Shake Shack (NYSE:SHAK) Stock Price Expected to Rise, Bank of America Analyst Says

Shake Shack (NYSE:SHAK - Get Free Report) had its price objective boosted by equities research analysts at Bank of America from $134.00 to $148.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Bank of America's price target would suggest a potential upside of 10.70% from the stock's previous close.

SHAK has been the subject of several other reports. Morgan Stanley boosted their target price on Shake Shack from $109.00 to $122.00 and gave the stock an "equal weight" rating in a report on Monday. UBS Group dropped their price target on Shake Shack from $140.00 to $100.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. Truist Financial lifted their price target on Shake Shack from $150.00 to $160.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $140.00 price target (down from $145.00) on shares of Shake Shack in a research report on Friday, May 2nd. Finally, KeyCorp began coverage on Shake Shack in a research report on Monday, June 2nd. They issued a "sector weight" rating on the stock. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $126.86.

Shake Shack Stock Performance

SHAK traded down $1.24 on Friday, hitting $133.69. The company had a trading volume of 72,924 shares, compared to its average volume of 1,203,122. The company's fifty day moving average price is $128.80 and its 200 day moving average price is $111.64. Shake Shack has a 1-year low of $72.93 and a 1-year high of $144.65. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.91 and a quick ratio of 1.88. The stock has a market cap of $5.70 billion, a price-to-earnings ratio of 477.95, a price-to-earnings-growth ratio of 3.20 and a beta of 1.77.

Shake Shack (NYSE:SHAK - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.14 earnings per share 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 company had revenue of $320.90 million during the quarter, compared to analyst estimates of $330.24 million. During the same quarter last year, the firm posted $0.13 earnings per share. The firm's revenue for the quarter was up 10.5% compared to the same quarter last year. Equities analysts predict that Shake Shack will post 1.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Shake Shack news, CFO Katherine Irene Fogertey sold 670 shares of the company's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $140.03, for a total value of $93,820.10. Following the sale, the chief financial officer directly owned 32,495 shares in the company, valued at $4,550,274.85. This represents a 2.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Daniel Harris Meyer sold 14,200 shares of the business's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $140.31, for a total value of $1,992,402.00. Following the completion of the transaction, the director directly owned 337,984 shares in the company, valued at approximately $47,422,535.04. This represents a 4.03% decrease in their position. The disclosure for this sale can be found here. Insiders sold 87,391 shares of company stock worth $11,869,925 over the last quarter. Company insiders own 9.73% of the company's stock.

Hedge Funds Weigh In On Shake Shack

Several hedge funds have recently added to or reduced their stakes in SHAK. Janney Montgomery Scott LLC raised its position in shares of Shake Shack by 38.2% during the second quarter. Janney Montgomery Scott LLC now owns 18,849 shares of the company's stock worth $2,650,000 after purchasing an additional 5,213 shares during the period. State of Alaska Department of Revenue lifted its position in shares of Shake Shack by 8.1% in the second quarter. State of Alaska Department of Revenue now owns 23,965 shares of the company's stock valued at $3,368,000 after buying an additional 1,786 shares during the last quarter. Dakota Wealth Management acquired a new stake in shares of Shake Shack in the second quarter valued at approximately $206,000. Magnus Financial Group LLC acquired a new stake in shares of Shake Shack in the second quarter valued at approximately $356,000. Finally, GAMMA Investing LLC lifted its holdings in Shake Shack by 38.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,559 shares of the company's stock worth $219,000 after purchasing an additional 436 shares during the last quarter. Institutional investors and hedge funds own 86.07% of the company's stock.

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.

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