Shake Shack (NYSE:SHAK) Stock Price Expected to Rise, Truist Financial Analyst Says

Shake Shack (NYSE:SHAK - Get Free Report) had its target price hoisted by investment analysts at Truist Financial from $140.00 to $150.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Truist Financial's price target indicates a potential upside of 6.06% from the stock's current price.

SHAK has been the topic of a number of other research reports. Bank of America boosted their price objective on shares of Shake Shack from $112.00 to $134.00 and gave the company a "neutral" rating in a research report on Wednesday, June 25th. UBS Group cut their price target 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. Stifel Nicolaus reduced their price objective on shares of Shake Shack from $120.00 to $97.00 and set a "hold" rating on the stock in a research report on Tuesday, April 15th. Wells Fargo & Company boosted their target price on 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, Barclays upped their target price on Shake Shack from $102.00 to $166.00 and gave the company an "overweight" rating in a research note on Thursday, June 26th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $124.43.

Shake Shack Price Performance

Shares of SHAK traded up $3.05 during midday trading on Wednesday, hitting $141.43. 1,406,457 shares of the company traded hands, compared to its average volume of 1,201,009. The stock has a market cap of $6.03 billion, a price-to-earnings ratio of 505.11, a PEG ratio of 3.27 and a beta of 1.77. The firm has a 50 day moving average of $118.76 and a 200-day moving average of $110.95. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.88 and a current ratio of 1.91. Shake Shack has a 52 week low of $72.93 and a 52 week high of $141.61.

Shake Shack (NYSE:SHAK - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.14 earnings per share (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 analysts' expectations of $330.24 million. Shake Shack had a net margin of 0.97% and a return on equity of 8.45%. The company's revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter last year, the company earned $0.13 earnings per share. On average, analysts forecast that Shake Shack will post 1.26 EPS for the current fiscal year.

Insider Activity at Shake Shack

In related news, CFO Katherine Irene Fogertey sold 3,956 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $127.49, for a total value of $504,350.44. Following the completion of the transaction, the chief financial officer owned 35,750 shares of the company's stock, valued at $4,557,767.50. The trade was a 9.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Daniel Harris Meyer sold 20,000 shares of the stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $140.07, for a total value of $2,801,400.00. Following the sale, the director directly owned 367,984 shares in the company, valued at $51,543,518.88. This trade represents a 5.15% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,698 shares of company stock worth $7,301,220. 9.73% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Shake Shack

Institutional investors have recently added to or reduced their stakes in the stock. Summit Financial LLC lifted its position in shares of Shake Shack by 0.7% during the first quarter. Summit Financial LLC now owns 13,180 shares of the company's stock valued at $1,162,000 after buying an additional 97 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of Shake Shack by 5.6% during the 4th quarter. Quadrant Capital Group LLC now owns 1,870 shares of the company's stock worth $243,000 after acquiring an additional 100 shares in the last quarter. Redwood Investments LLC lifted its position in Shake Shack by 0.5% during the first quarter. Redwood Investments LLC now owns 23,231 shares of the company's stock valued at $2,048,000 after acquiring an additional 110 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Shake Shack by 1.3% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,367 shares of the company's stock valued at $914,000 after acquiring an additional 133 shares during the last quarter. Finally, Xponance Inc. boosted its stake in Shake Shack by 5.9% in the first quarter. Xponance Inc. now owns 2,868 shares of the company's stock valued at $253,000 after acquiring an additional 159 shares in the last quarter. Institutional investors 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.