Shake Shack (NYSE:SHAK) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Shake Shack (NYSE:SHAK - Get Free Report) had its target price boosted by research analysts at JPMorgan Chase & Co. from $100.00 to $110.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s target price indicates a potential downside of 18.37% from the company's previous close.

SHAK has been the subject of several other research reports. TD Securities restated a "hold" rating and issued a $105.00 target price on shares of Shake Shack in a research report on Monday, May 19th. BTIG Research downgraded Shake Shack from a "buy" rating to a "neutral" rating in a research report on Monday, June 2nd. Robert W. Baird raised their target price on Shake Shack from $85.00 to $90.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Barclays cut their target price on Shake Shack from $155.00 to $100.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Finally, KeyCorp initiated coverage on Shake Shack in a research note on Monday, June 2nd. They issued a "sector weight" rating for the company. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $116.80.

Shake Shack Stock Performance

Shares of Shake Shack stock traded up $0.83 during trading hours on Wednesday, reaching $134.76. The company's stock had a trading volume of 158,545 shares, compared to its average volume of 1,188,899. Shake Shack has a one year low of $72.93 and a one year high of $139.89. The company's 50 day simple moving average is $112.20 and its 200 day simple moving average is $110.61. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.88 and a current ratio of 1.91. The stock has a market cap of $5.75 billion, a P/E ratio of 481.29, a price-to-earnings-growth ratio of 3.21 and a beta of 1.77.

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

Insider Transactions at Shake Shack

In other Shake Shack news, Director Daniel Harris Meyer sold 10,000 shares of the company's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $130.10, for a total transaction of $1,301,000.00. Following the completion of the sale, the director now directly owns 396,636 shares of the company's stock, valued at approximately $51,602,343.60. This represents a 2.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Katherine Irene Fogertey sold 562 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $124.84, for a total transaction of $70,160.08. Following the completion of the transaction, the chief financial officer now owns 35,188 shares of the company's stock, valued at approximately $4,392,869.92. The trade was a 1.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,698 shares of company stock valued at $4,499,820 in the last three months. 9.73% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Shake Shack

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nemes Rush Group LLC purchased a new stake in shares of Shake Shack in the fourth quarter valued at $29,000. Harvest Fund Management Co. Ltd acquired a new position in Shake Shack during the fourth quarter valued at $32,000. Farther Finance Advisors LLC raised its position in Shake Shack by 939.3% during the first quarter. Farther Finance Advisors LLC now owns 291 shares of the company's stock valued at $26,000 after buying an additional 263 shares during the period. Geneos Wealth Management Inc. purchased a new stake in Shake Shack in the 1st quarter worth about $26,000. Finally, Garde Capital Inc. acquired a new stake in Shake Shack during the 1st quarter worth about $35,000. 86.07% of the stock is currently owned by hedge funds and other institutional investors.

About Shake Shack

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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