Shake Shack Inc. owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, hot dogs, chicken, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. As of December 29, 2021, it operated 369 Shacks, including 218 domestic company-operated Shacks, 25 domestic licensed Shacks, and 126 international licensed Shacks. Shake Shack Inc. was founded in 2001 and is headquartered in New York, New York.
Analyst Ratings Changes
A number of research firms have recently commented on SHAK. Northcoast Research upgraded Shake Shack from a "neutral" rating to a "buy" rating and set a $70.00 price objective for the company in a research report on Monday, May 16th. BTIG Research reduced their price target on shares of Shake Shack to $65.00 in a research report on Tuesday. Gordon Haskett began coverage on shares of Shake Shack in a research note on Tuesday, July 19th. They issued a "hold" rating and a $50.00 price target on the stock. Oppenheimer reduced their target price on Shake Shack from $75.00 to $69.00 and set an "outperform" rating for the company in a report on Monday, August 8th. Finally, Barclays lowered their price target on Shake Shack to $44.00 in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $66.39.
Shake Shack Price Performance
Shares of Shake Shack stock opened at $53.11 on Friday. Shake Shack has a 12-month low of $37.72 and a 12-month high of $100.85. The company has a quick ratio of 2.86, a current ratio of 2.89 and a debt-to-equity ratio of 0.57. The stock's fifty day moving average is $44.83 and its 200-day moving average is $56.02.
Insider Buying and Selling
In other news, Director Daniel Harris Meyer bought 21,000 shares of the firm's stock in a transaction on Monday, July 11th. The stock was bought at an average cost of $39.58 per share, for a total transaction of $831,180.00. Following the completion of the acquisition, the director now directly owns 576,364 shares in the company, valued at approximately $22,812,487.12. The purchase was disclosed in a document filed with the SEC, which is available at this link. In other Shake Shack news, COO Zach Koff sold 5,000 shares of the firm's stock in a transaction dated Thursday, July 14th. The stock was sold at an average price of $45.00, for a total transaction of $225,000.00. Following the completion of the sale, the chief operating officer now directly owns 31,085 shares in the company, valued at approximately $1,398,825. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel Harris Meyer bought 21,000 shares of the company's stock in a transaction dated Monday, July 11th. The stock was acquired at an average price of $39.58 per share, for a total transaction of $831,180.00. Following the acquisition, the director now directly owns 576,364 shares in the company, valued at $22,812,487.12. The disclosure for this purchase can be found here. 9.98% of the stock is currently owned by company insiders.