Truist Financial Issues Pessimistic Forecast for Shake Shack (NYSE:SHAK) Stock Price

Shake Shack (NYSE:SHAK) had its price target lowered by research analysts at Truist Financial from $149.00 to $143.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 21.33% from the company’s previous close.

Other analysts have also issued reports about the stock. UBS Group increased their price target on shares of Shake Shack from $130.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. JPMorgan Chase & Co. restated an “underweight” rating and set a $102.00 price objective (down previously from $105.00) on shares of Shake Shack in a report on Tuesday, September 24th. Stifel Nicolaus increased their price target on shares of Shake Shack from $115.00 to $128.00 and gave the stock a “hold” rating in a report on Friday. Oppenheimer increased 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, January 7th. Finally, Barclays upgraded shares of Shake Shack from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $125.00 to $159.00 in a report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Shake Shack presently has an average rating of “Hold” and an average price target of $122.56.

Shake Shack Trading Down 3.1 %

SHAK stock traded down $3.73 during mid-day trading on Tuesday, reaching $117.86. 349,823 shares of the stock traded hands, compared to its average volume of 1,257,284. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.98 and a current ratio of 2.01. Shake Shack has a one year low of $64.16 and a one year high of $139.89. The stock has a market capitalization of $5.01 billion, a PE ratio of 693.29, a PEG ratio of 2.83 and a beta of 1.86. The business has a 50-day moving average price of $130.09 and a two-hundred day moving average price of $110.72.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. The firm had revenue of $316.92 million for the quarter, compared to analysts’ expectations of $316.03 million. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.17 earnings per share. Equities research analysts expect that Shake Shack will post 0.82 EPS for the current year.

Insiders Place Their Bets

In other Shake Shack news, Director Daniel Harris Meyer sold 22,691 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $124.47, for a total value of $2,824,348.77. Following the completion of the sale, the director now owns 437,646 shares of the company’s stock, valued at $54,473,797.62. The trade was a 4.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Katherine Irene Fogertey sold 642 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $137.51, for a total value of $88,281.42. Following the sale, the chief financial officer now owns 30,717 shares of the company’s stock, valued at approximately $4,223,894.67. The trade was a 2.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 53,333 shares of company stock valued at $6,566,330 in the last quarter. Insiders own 9.73% of the company’s stock.

Institutional Trading of Shake Shack

Several hedge funds have recently added to or reduced their stakes in SHAK. Point72 Asset Management L.P. raised its position in Shake Shack by 154.8% during the third quarter. Point72 Asset Management L.P. now owns 650,685 shares of the company’s stock valued at $67,157,000 after purchasing an additional 395,311 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Shake Shack during the 3rd quarter worth about $39,677,000. Holocene Advisors LP raised its holdings in shares of Shake Shack by 68.3% in 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 raised its holdings in shares of Shake Shack by 101.2% in 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 increased its stake in Shake Shack by 69.1% in the 2nd quarter. Armistice Capital LLC now owns 579,904 shares of the company’s stock valued at $52,191,000 after buying an additional 236,950 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.