Shake Shack (NYSE:SHAK) Raised to “Moderate Buy” at Royal Bank Of Canada

Shake Shack (NYSE:SHAK) was upgraded by analysts at Royal Bank Of Canada to a “moderate buy” rating in a research note issued on Tuesday, Zacks reports.

SHAK has been the subject of a number of other research reports. Wall Street Zen raised Shake Shack from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. TD Cowen restated a “hold” rating on shares of Shake Shack in a research note on Wednesday, August 5th. UBS Group decreased their price target on shares of Shake Shack from $79.00 to $68.00 and set a “neutral” rating on the stock in a research note on Monday, August 3rd. Jefferies Financial Group reaffirmed a “hold” rating and set a $66.00 price target on shares of Shake Shack in a research report on Tuesday, June 2nd. Finally, Robert W. Baird upgraded shares of Shake Shack to a “hold” rating in a research note on Monday, August 24th. Sixteen investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $89.71.

Shake Shack Price Performance

Shares of NYSE SHAK opened at $67.41 on Tuesday. The firm has a market cap of $2.89 billion, a P/E ratio of 71.71, a price-to-earnings-growth ratio of 7.59 and a beta of 1.66. The business’s 50 day moving average is $65.31 and its 200-day moving average is $74.61. The company has a current ratio of 1.67, a quick ratio of 1.64 and a debt-to-equity ratio of 0.43. Shake Shack has a 1-year low of $51.60 and a 1-year high of $107.46.

Shake Shack (NYSE:SHAK) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.12. Shake Shack had a return on equity of 9.29% and a net margin of 2.56%.The business had revenue of $417.62 million during the quarter, compared to the consensus estimate of $417.18 million. During the same period in the previous year, the company posted $0.44 EPS. The firm’s quarterly revenue was up 17.2% on a year-over-year basis. Equities research analysts predict that Shake Shack will post 1.13 earnings per share for the current year.

Hedge Funds Weigh In On Shake Shack

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SHAK. California State Teachers Retirement System lifted its position in shares of Shake Shack by 5,410.3% during the 2nd quarter. California State Teachers Retirement System now owns 2,459,558 shares of the company’s stock valued at $137,784,000 after acquiring an additional 2,414,922 shares during the period. Swedbank AB acquired a new stake in shares of Shake Shack during the 4th quarter worth $84,092,000. Adage Capital Partners GP L.L.C. bought a new position in shares of Shake Shack in the fourth quarter worth $40,829,000. Wellington Management Group LLP increased its position in shares of Shake Shack by 21.0% in the third quarter. Wellington Management Group LLP now owns 2,590,911 shares of the company’s stock worth $242,535,000 after purchasing an additional 450,406 shares during the period. Finally, Marshall Wace LLP raised its stake in Shake Shack by 285.2% in the third quarter. Marshall Wace LLP now owns 586,999 shares of the company’s stock valued at $54,949,000 after purchasing an additional 434,625 shares in the last quarter. 86.07% of the stock is owned by institutional investors and hedge funds.

Shake Shack Company Profile

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.