Shake Shack, Inc. (NYSE:SHAK) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Shake Shack, Inc. (NYSE:SHAK) have been given a consensus recommendation of “Moderate Buy” by the twenty-seven research firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation and fifteen have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $91.00.

Several research firms have commented on SHAK. Citigroup reiterated a “buy” rating on shares of Shake Shack in a research note on Wednesday, June 3rd. Wall Street Zen lowered Shake Shack from a “hold” rating to a “strong sell” rating in a report on Saturday, May 16th. DA Davidson reaffirmed a “buy” rating and issued a $70.00 target price on shares of Shake Shack in a report on Monday, June 29th. Bank of America raised Shake Shack from an “underperform” rating to a “neutral” rating and increased their price target for the company from $88.00 to $101.00 in a research report on Tuesday, March 31st. Finally, Oppenheimer set a $82.00 price target on Shake Shack and gave the stock an “outperform” rating in a report on Tuesday, June 2nd.

Insider Activity

In related news, Director Jeffrey Flug purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were bought at an average cost of $61.30 per share, with a total value of $61,300.00. Following the acquisition, the director owned 5,470 shares of the company’s stock, valued at $335,311. This represents a 22.37% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel Harris Meyer purchased 32,258 shares of Shake Shack stock in a transaction that occurred on Friday, May 15th. The shares were bought at an average price of $61.88 per share, with a total value of $1,996,125.04. Following the transaction, the director owned 378,670 shares of the company’s stock, valued at $23,432,099.60. This trade represents a 9.31% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders bought 50,616 shares of company stock worth $3,109,782. 8.32% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE raised its holdings in shares of Shake Shack by 9.3% in the 1st quarter. Bank of America Corp DE now owns 899,013 shares of the company’s stock worth $79,536,000 after purchasing an additional 76,724 shares during the period. Amundi grew its holdings in Shake Shack by 19.8% during the first quarter. Amundi now owns 7,626 shares of the company’s stock valued at $675,000 after purchasing an additional 1,261 shares during the period. California State Teachers Retirement System increased its position in Shake Shack by 23.2% in the first quarter. California State Teachers Retirement System now owns 44,636 shares of the company’s stock worth $3,949,000 after buying an additional 8,409 shares during the last quarter. Quantinno Capital Management LP increased its position in Shake Shack by 655.6% in the first quarter. Quantinno Capital Management LP now owns 55,362 shares of the company’s stock worth $4,898,000 after buying an additional 48,035 shares during the last quarter. Finally, SummitTX Capital L.P. bought a new stake in shares of Shake Shack in the first quarter valued at $542,000. 86.07% of the stock is owned by institutional investors.

Shake Shack Stock Up 0.1%

SHAK opened at $56.54 on Friday. Shake Shack has a fifty-two week low of $51.60 and a fifty-two week high of $144.65. The firm has a market capitalization of $2.42 billion, a P/E ratio of 57.70, a PEG ratio of 2.50 and a beta of 1.63. The company’s 50-day moving average is $65.89 and its 200 day moving average is $82.67. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.69 and a quick ratio of 1.66.

About Shake Shack

Shake Shack, Inc (NYSE: SHAK) is a publicly traded hospitality company known for its modern take on the classic American roadside burger stand. The company operates a chain of quick-casual restaurants offering premium hamburgers, hot dogs, crinkle-cut fries, frozen custard, milkshakes and a curated selection of beer and wine. Shake Shack emphasizes high-quality ingredients, including 100% all-natural Angus beef with no hormones or antibiotics, and works with local suppliers where possible to maintain its commitment to fresh, responsibly sourced food.

Shake Shack traces its origins to a hot dog cart opened in New York City’s Madison Square Park in 2001 by Danny Meyer’s Union Square Hospitality Group.