Barclays Boosts Shake Shack (NYSE:SHAK) Price Target to $108.00

Shake Shack (NYSE:SHAK) had its price objective boosted by Barclays from $92.00 to $108.00 in a report released on Friday morning, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other research firms have also recently issued reports on SHAK. UBS Group lifted their price objective on shares of Shake Shack from $80.00 to $88.00 and gave the stock a neutral rating in a research report on Monday, February 12th. TD Cowen reaffirmed a buy rating and set a $125.00 price objective on shares of Shake Shack in a research report on Thursday. Robert W. Baird raised their target price on Shake Shack from $102.00 to $105.00 and gave the stock a neutral rating in a research report on Friday. StockNews.com downgraded Shake Shack from a hold rating to a sell rating in a report on Monday, March 4th. Finally, BTIG Research raised their price objective on shares of Shake Shack from $110.00 to $120.00 and gave the stock a buy rating in a report on Thursday, March 14th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $98.24.

Shake Shack Stock Down 1.7 %

SHAK traded down $1.85 on Friday, hitting $105.62. 1,152,480 shares of the company were exchanged, compared to its average volume of 954,618. The firm has a 50-day moving average price of $102.37 and a two-hundred day moving average price of $80.77. The company has a current ratio of 2.03, a quick ratio of 1.99 and a debt-to-equity ratio of 0.52. Shake Shack has a twelve month low of $52.79 and a twelve month high of $111.29. The company has a market cap of $4.47 billion, a price-to-earnings ratio of 197.80, a price-to-earnings-growth ratio of 3.79 and a beta of 1.78.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. The business had revenue of $290.50 million during the quarter, compared to the consensus estimate of $291.00 million. Shake Shack had a return on equity of 4.86% and a net margin of 2.08%. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.01) earnings per share. On average, equities analysts predict that Shake Shack will post 0.72 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Daniel Harris Meyer sold 23,966 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $100.13, for a total value of $2,399,715.58. Following the completion of the sale, the director now owns 526,471 shares in the company, valued at $52,715,541.23. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Jeffrey Flug sold 304 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $108.05, for a total transaction of $32,847.20. Following the transaction, the director now directly owns 4,058 shares of the company’s stock, valued at approximately $438,466.90. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Daniel Harris Meyer sold 23,966 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $100.13, for a total transaction of $2,399,715.58. Following the completion of the sale, the director now owns 526,471 shares of the company’s stock, valued at approximately $52,715,541.23. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,608 shares of company stock worth $10,178,861. 10.06% of the stock is owned by insiders.

Institutional Investors Weigh In On Shake Shack

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. 12 West Capital Management LP increased its stake in Shake Shack by 82.2% in the 3rd quarter. 12 West Capital Management LP now owns 1,659,600 shares of the company’s stock valued at $96,373,000 after purchasing an additional 748,789 shares in the last quarter. Van Berkom & Associates Inc. raised its stake in shares of Shake Shack by 19.3% during the 3rd quarter. Van Berkom & Associates Inc. now owns 1,046,339 shares of the company’s stock worth $60,761,000 after buying an additional 168,947 shares during the last quarter. Linonia Partnership LP purchased a new stake in shares of Shake Shack in the 4th quarter worth about $41,046,000. Qube Research & Technologies Ltd increased its holdings in Shake Shack by 130.0% during the 3rd quarter. Qube Research & Technologies Ltd now owns 436,888 shares of the company’s stock valued at $25,370,000 after acquiring an additional 246,952 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Shake Shack by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 309,641 shares of the company’s stock worth $22,951,000 after buying an additional 12,362 shares in the last quarter. 86.07% of the stock is currently owned by institutional investors and hedge funds.

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.