Shake Shack (NYSE:SHAK) Sets New 1-Year High After Analyst Upgrade

Shake Shack, Inc. (NYSE:SHAK - Get Free Report) shares reached a new 52-week high on Wednesday after Truist Financial raised their price target on the stock from $140.00 to $150.00. Truist Financial currently has a buy rating on the stock. Shake Shack traded as high as $141.65 and last traded at $141.43, with a volume of 1405809 shares. The stock had previously closed at $138.38.

A number of other equities research analysts have also recently issued reports on SHAK. Robert W. Baird upped their price objective on shares of Shake Shack from $85.00 to $90.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. UBS Group lowered their target price on shares of Shake Shack from $140.00 to $100.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Oppenheimer reaffirmed an "outperform" rating and set a $160.00 price target (up from $125.00) on shares of Shake Shack in a report on Thursday, June 26th. Wells Fargo & Company raised their price objective on shares of Shake Shack from $95.00 to $115.00 and gave the company an "equal weight" rating in a research report on Friday, May 30th. Finally, Raymond James Financial restated a "strong-buy" rating and set a $140.00 target price (down from $145.00) on shares of Shake Shack in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Shake Shack has an average rating of "Hold" and a consensus price target of $124.43.

Insider Activity

In other Shake Shack news, Director Daniel Harris Meyer sold 20,000 shares of the stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $140.07, for a total value of $2,801,400.00. Following the transaction, the director owned 367,984 shares in the company, valued at approximately $51,543,518.88. This represents a 5.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Katherine Irene Fogertey sold 3,956 shares of Shake Shack stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $127.49, for a total transaction of $504,350.44. Following the transaction, the chief financial officer owned 35,750 shares of the company's stock, valued at $4,557,767.50. This represents a 9.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,698 shares of company stock worth $7,301,220 in the last quarter. Company insiders own 9.73% of the company's stock.

Hedge Funds Weigh In On Shake Shack

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Shake Shack by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 4,426,015 shares of the company's stock valued at $574,497,000 after purchasing an additional 49,883 shares during the last quarter. Invesco Ltd. raised its position in shares of Shake Shack by 2.0% during the 1st quarter. Invesco Ltd. now owns 1,269,876 shares of the company's stock valued at $111,965,000 after buying an additional 24,783 shares in the last quarter. Balyasny Asset Management L.P. lifted its holdings in shares of Shake Shack by 17.7% during the 4th quarter. Balyasny Asset Management L.P. now owns 894,286 shares of the company's stock worth $116,078,000 after acquiring an additional 134,475 shares during the last quarter. Ameriprise Financial Inc. grew its position in Shake Shack by 144.3% in the first quarter. Ameriprise Financial Inc. now owns 791,857 shares of the company's stock worth $69,805,000 after acquiring an additional 467,748 shares in the last quarter. Finally, Van Berkom & Associates Inc. grew its position in Shake Shack by 19.0% in the first quarter. Van Berkom & Associates Inc. now owns 785,594 shares of the company's stock worth $69,266,000 after acquiring an additional 125,357 shares in the last quarter. Institutional investors own 86.07% of the company's stock.

Shake Shack Stock Performance

The stock has a market cap of $6.03 billion, a P/E ratio of 505.11, a price-to-earnings-growth ratio of 3.32 and a beta of 1.77. The company has a 50 day simple moving average of $117.69 and a 200-day simple moving average of $110.74. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.91 and a quick ratio of 1.88.

Shake Shack (NYSE:SHAK - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.02). Shake Shack had a return on equity of 8.45% and a net margin of 0.97%. The firm had revenue of $320.90 million during the quarter, compared to analysts' expectations of $330.24 million. During the same period in the previous year, the firm earned $0.13 earnings per share. The firm's quarterly revenue was up 10.5% compared to the same quarter last year. On average, equities analysts expect that Shake Shack, Inc. will post 1.26 earnings per share for the current fiscal year.

Shake Shack Company Profile

Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, chicken, hot dogs, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. The company was founded in 2001 and is headquartered in New York, New York.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.