Wedbush reaffirmed their underperform rating on shares of Shake Shack Inc. (NYSE:SHAK) in a report released on Saturday. They currently have a $28.00 price objective on the stock, down from their previous price objective of $39.00.
Several other equities analysts have also weighed in on SHAK. Vetr lowered Shake Shack from a buy rating to a hold rating and set a $37.50 price objective for the company. in a report on Wednesday, July 6th. Zacks Investment Research downgraded Shake Shack from a buy rating to a hold rating in a research report on Wednesday, July 13th. SunTrust Banks Inc. upgraded Shake Shack from a neutral rating to a buy rating and increased their target price for the stock from $40.87 to $48.00 in a research report on Thursday, August 11th. Jefferies Group restated a hold rating and set a $36.00 target price (down previously from $38.00) on shares of Shake Shack in a research report on Thursday, August 11th. Finally, JPMorgan Chase & Co. restated a neutral rating and set a $38.00 target price (up previously from $35.00) on shares of Shake Shack in a research report on Thursday, August 11th. Three analysts have rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Hold and an average price target of $39.73.
Shares of Shake Shack (NYSE:SHAK) traded up 0.28% during midday trading on Friday, reaching $32.30. The company had a trading volume of 370,113 shares. The company has a 50 day moving average of $34.51 and a 200 day moving average of $36.42. Shake Shack has a one year low of $30.00 and a one year high of $53.50. The company has a market capitalization of $773.68 million, a PE ratio of 79.75 and a beta of 1.15.
Shake Shack (NYSE:SHAK) last announced its quarterly earnings data on Wednesday, August 10th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. Shake Shack had a return on equity of 8.09% and a net margin of 3.35%. The business earned $66.50 million during the quarter, compared to analyst estimates of $63.07 million. During the same period in the prior year, the company earned $0.09 earnings per share. Shake Shack’s revenue was up 37.1% compared to the same quarter last year. Analysts predict that Shake Shack will post $0.45 EPS for the current fiscal year.
In other Shake Shack news, major shareholder Richard D. Coraine sold 59,362 shares of the firm’s stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $40.00, for a total transaction of $2,374,480.00. Following the sale, the insider now owns 5,000 shares in the company, valued at $200,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Karen Kochevar sold 15,875 shares of the firm’s stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $40.72, for a total value of $646,430.00. The disclosure for this sale can be found here. Company insiders own 44.69% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Gilder Gagnon Howe & Co. LLC increased its stake in Shake Shack by 20.6% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,720,760 shares of the company’s stock worth $62,687,000 after buying an additional 294,113 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in Shake Shack by 223.7% in the second quarter. Lord Abbett & CO. LLC now owns 1,061,520 shares of the company’s stock worth $38,671,000 after buying an additional 733,625 shares during the last quarter. Vanguard Group Inc. increased its stake in Shake Shack by 270.0% in the second quarter. Vanguard Group Inc. now owns 937,625 shares of the company’s stock worth $34,157,000 after buying an additional 684,234 shares during the last quarter. Blair William & Co. IL boosted its position in shares of Shake Shack by 111.6% in the second quarter. Blair William & Co. IL now owns 489,933 shares of the company’s stock worth $17,848,000 after buying an additional 258,341 shares during the period. Finally, BlackRock Fund Advisors boosted its position in shares of Shake Shack by 168.6% in the second quarter. BlackRock Fund Advisors now owns 368,818 shares of the company’s stock worth $13,436,000 after buying an additional 231,532 shares during the period. Institutional investors and hedge funds own 93.41% of the company’s stock.
Shake Shack Company Profile
Shake Shack Inc operates roadside burger stands. The Company serves an American menu of burgers, hot dogs, crispy chicken, frozen custard, crinkle cut fries, shakes, beer and wine, among others. The Company has approximately 84 Shacks in over 10 countries and approximately 45 cities. The Company’s signature items are its all-natural, hormone and antibiotic-free burgers, hot dogs, crispy chicken, crinkle cut fries, shakes and frozen custard.
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