Shake Shack (NYSE:SHAK) Given New $105.00 Price Target at Morgan Stanley

Shake Shack (NYSE:SHAK) had its price target boosted by Morgan Stanley from $88.00 to $105.00 in a report released on Friday, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other equities research analysts have also issued reports on SHAK. StockNews.com lowered shares of Shake Shack from a hold rating to a sell rating in a research note on Monday, March 4th. Raymond James increased their price objective on shares of Shake Shack from $90.00 to $115.00 and gave the stock a strong-buy rating in a research note on Friday, February 16th. TD Cowen reiterated a buy rating and set a $125.00 price objective on shares of Shake Shack in a research note on Wednesday, April 10th. Oppenheimer increased their price objective on shares of Shake Shack from $108.00 to $120.00 and gave the stock an outperform rating in a research note on Friday, March 22nd. Finally, Robert W. Baird increased their price objective on shares of Shake Shack from $67.00 to $82.00 and gave the stock a neutral rating in a research note on Tuesday, February 13th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Shake Shack has a consensus rating of Hold and an average target price of $88.67.

Shake Shack Stock Performance

NYSE:SHAK opened at $97.11 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.04 and a quick ratio of 2.01. The firm has a 50-day moving average of $98.74 and a two-hundred day moving average of $76.39. The stock has a market cap of $4.11 billion, a P/E ratio of 211.10, a PEG ratio of 3.66 and a beta of 1.80. Shake Shack has a 1-year low of $52.64 and a 1-year high of $110.90.

Shake Shack (NYSE:SHAK) last issued its earnings results on Thursday, February 15th. The company reported $0.02 earnings per share (EPS) for the quarter. The business had revenue of $286.20 million for the quarter, compared to analyst estimates of $280.45 million. Shake Shack had a net margin of 1.82% and a return on equity of 3.67%. The company’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.06) EPS. On average, research analysts expect that Shake Shack will post 0.71 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Daniel Harris Meyer sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $95.25, for a total transaction of $2,857,500.00. Following the completion of the sale, the director now directly owns 550,437 shares in the company, valued at $52,429,124.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Jeffrey Flug sold 304 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $103.01, for a total value of $31,315.04. Following the completion of the sale, the director now owns 3,754 shares in the company, valued at approximately $386,699.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Daniel Harris Meyer sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $95.25, for a total transaction of $2,857,500.00. Following the completion of the sale, the director now owns 550,437 shares of the company’s stock, valued at approximately $52,429,124.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 100,912 shares of company stock worth $10,201,834. Corporate insiders own 10.06% of the company’s stock.

Institutional Investors Weigh In On Shake Shack

Several hedge funds have recently made changes to their positions in SHAK. GAMMA Investing LLC purchased a new stake in shares of Shake Shack in the 4th quarter valued at approximately $32,000. Ramirez Asset Management Inc. purchased a new stake in Shake Shack in the 3rd quarter worth approximately $35,000. Natixis purchased a new stake in Shake Shack in the 4th quarter worth approximately $53,000. Tower Research Capital LLC TRC lifted its position in Shake Shack by 67.9% in the 1st quarter. Tower Research Capital LLC TRC now owns 989 shares of the company’s stock worth $55,000 after buying an additional 400 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. lifted its position in Shake Shack by 122.6% in the 3rd quarter. C M Bidwell & Associates Ltd. now owns 1,111 shares of the company’s stock worth $65,000 after buying an additional 612 shares in the last quarter. Hedge funds and other institutional investors 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.