Shake Shack (NYSE:SHAK) Raised to Hold at Zacks Research

Shake Shack (NYSE:SHAK) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other equities analysts also recently commented on the stock. Wells Fargo & Company increased their target price on shares of Shake Shack from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Friday, February 27th. Wolfe Research started coverage on Shake Shack in a research note on Monday. They set an “outperform” rating and a $118.00 price target for the company. TD Cowen increased their price objective on Shake Shack from $100.00 to $105.00 and gave the company a “hold” rating in a report on Thursday, February 26th. Barclays reduced their target price on Shake Shack from $115.00 to $110.00 and set an “overweight” rating for the company in a report on Wednesday, January 7th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of Shake Shack in a research report on Tuesday, November 25th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $116.64.

Shake Shack Stock Performance

SHAK stock opened at $95.59 on Monday. The company has a quick ratio of 1.73, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of 87.70, a P/E/G ratio of 5.11 and a beta of 1.73. Shake Shack has a 12 month low of $72.93 and a 12 month high of $144.65. The firm has a 50 day moving average of $92.89 and a two-hundred day moving average of $92.18.

Shake Shack (NYSE:SHAK) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. Shake Shack had a net margin of 3.16% and a return on equity of 11.08%. The business had revenue of $400.53 million for the quarter, compared to the consensus estimate of $402.06 million. During the same quarter last year, the firm earned $0.26 EPS. Shake Shack’s revenue for the quarter was up 21.8% on a year-over-year basis. As a group, equities analysts anticipate that Shake Shack will post 1.26 EPS for the current fiscal year.

Institutional Trading of Shake Shack

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Corient Private Wealth LLC increased its position in Shake Shack by 216.9% in the 4th quarter. Corient Private Wealth LLC now owns 13,076 shares of the company’s stock worth $1,061,000 after buying an additional 8,950 shares during the period. Alberta Investment Management Corp bought a new stake in shares of Shake Shack in the fourth quarter valued at approximately $1,201,000. Empowered Funds LLC acquired a new stake in shares of Shake Shack in the fourth quarter worth $100,000. XTX Topco Ltd increased its position in Shake Shack by 1,485.4% during the fourth quarter. XTX Topco Ltd now owns 39,745 shares of the company’s stock worth $3,226,000 after acquiring an additional 37,238 shares during the period. Finally, Susquehanna Portfolio Strategies LLC increased its position in Shake Shack by 53.5% during the fourth quarter. Susquehanna Portfolio Strategies LLC now owns 99,778 shares of the company’s stock worth $8,099,000 after acquiring an additional 34,776 shares during the period. Institutional investors and hedge funds own 86.07% of the company’s stock.

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.