Stifel Nicolaus Issues Positive Forecast for Shake Shack (NYSE:SHAK) Stock Price

Shake Shack (NYSE:SHAK) had its price target boosted by Stifel Nicolaus from $115.00 to $128.00 in a research report report published on Friday,Benzinga reports. They currently have a hold rating on the stock.

SHAK has been the subject of a number of other reports. Gordon Haskett raised Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 price target for the company in a report on Wednesday. JPMorgan Chase & Co. restated an “underweight” rating and issued a $102.00 target price (down from $105.00) on shares of Shake Shack in a report on Tuesday, September 24th. Oppenheimer lifted their price target on shares of Shake Shack from $145.00 to $155.00 and gave the stock an “outperform” rating in a report on Tuesday. Truist Financial boosted their price objective on shares of Shake Shack from $147.00 to $149.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, TD Cowen restated a “buy” rating and set a $125.00 target price on shares of Shake Shack in a research report on Wednesday, September 18th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Shake Shack has an average rating of “Hold” and a consensus target price of $122.89.

Shake Shack Trading Down 3.2 %

NYSE:SHAK opened at $128.61 on Friday. The company has a market capitalization of $5.46 billion, a PE ratio of 756.53, a price-to-earnings-growth ratio of 2.83 and a beta of 1.86. Shake Shack has a 52-week low of $64.16 and a 52-week high of $139.89. The stock has a fifty day simple moving average of $130.04 and a 200-day simple moving average of $109.89. The company has a quick ratio of 1.98, a current ratio of 2.01 and a debt-to-equity ratio of 0.51.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.05. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The company had revenue of $316.92 million for the quarter, compared to the consensus estimate of $316.03 million. During the same quarter in the prior year, the firm earned $0.17 earnings per share. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. On average, equities research analysts expect that Shake Shack will post 0.82 earnings per share for the current fiscal year.

Insider Buying and Selling at Shake Shack

In other news, CFO Katherine Irene Fogertey sold 642 shares of Shake Shack stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $137.51, for a total transaction of $88,281.42. Following the sale, the chief financial officer now directly owns 30,717 shares in the company, valued at approximately $4,223,894.67. The trade was a 2.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel Harris Meyer sold 30,000 shares of Shake Shack stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $121.79, for a total value of $3,653,700.00. Following the sale, the director now directly owns 407,646 shares in the company, valued at $49,647,206.34. The trade was a 6.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 53,333 shares of company stock worth $6,566,330 over the last ninety days. Company insiders own 9.73% of the company’s stock.

Institutional Trading of Shake Shack

Hedge funds and other institutional investors have recently modified their holdings of the stock. Point72 Asset Management L.P. lifted its stake in Shake Shack by 154.8% in the third quarter. Point72 Asset Management L.P. now owns 650,685 shares of the company’s stock valued at $67,157,000 after buying an additional 395,311 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Shake Shack in the 3rd quarter valued at approximately $39,677,000. Holocene Advisors LP boosted its stake in Shake Shack by 68.3% during the 3rd quarter. Holocene Advisors LP now owns 946,350 shares of the company’s stock worth $97,673,000 after acquiring an additional 384,131 shares during the last quarter. Marshall Wace LLP boosted its stake in Shake Shack by 101.2% during the 2nd quarter. Marshall Wace LLP now owns 544,336 shares of the company’s stock worth $48,990,000 after acquiring an additional 273,822 shares during the last quarter. Finally, Armistice Capital LLC grew its holdings in Shake Shack by 69.1% during the second quarter. Armistice Capital LLC now owns 579,904 shares of the company’s stock valued at $52,191,000 after purchasing an additional 236,950 shares during the period. Institutional investors and hedge funds own 86.07% of the company’s stock.

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.