Shake Shack (NYSE:SHAK) Given New $100.00 Price Target at JPMorgan Chase & Co.

Shake Shack (NYSE:SHAK) had its target price upped by investment analysts at JPMorgan Chase & Co. from $95.00 to $100.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential downside of 2.77% from the stock’s current price.

SHAK has been the topic of several other research reports. TD Cowen lifted their target price on Shake Shack from $100.00 to $105.00 and gave the company a “hold” rating in a research report on Thursday, February 26th. BNP Paribas Exane started coverage on Shake Shack in a research report on Monday, March 30th. They issued an “outperform” rating and a $124.00 price target for the company. Morgan Stanley upgraded Shake Shack from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $115.00 to $125.00 in a research note on Tuesday, January 20th. Wolfe Research initiated coverage on shares of Shake Shack in a report on Monday, March 9th. They set an “outperform” rating and a $118.00 price objective on the stock. Finally, Mizuho upgraded shares of Shake Shack from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $100.00 to $120.00 in a research note on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and fourteen have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $119.67.

Shake Shack Stock Up 5.4%

NYSE SHAK traded up $5.26 during trading hours on Friday, hitting $102.85. The company’s stock had a trading volume of 406,357 shares, compared to its average volume of 1,394,895. Shake Shack has a 52 week low of $76.51 and a 52 week high of $144.65. The company has a market capitalization of $4.39 billion, a PE ratio of 94.38, a price-to-earnings-growth ratio of 3.89 and a beta of 1.75. The company has a current ratio of 1.76, a quick ratio of 1.73 and a debt-to-equity ratio of 0.45. The company’s 50-day simple moving average is $93.29 and its two-hundred day simple moving average is $90.79.

Shake Shack (NYSE:SHAK) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. The business had revenue of $400.53 million during the quarter, compared to the consensus estimate of $402.06 million. Shake Shack had a return on equity of 11.08% and a net margin of 3.16%.The company’s quarterly revenue was up 21.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.26 EPS. Research analysts anticipate that Shake Shack will post 1.39 EPS for the current fiscal year.

Insider Activity at Shake Shack

In related news, insider Stephanie Ann Sentell sold 258 shares of Shake Shack stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $102.21, for a total transaction of $26,370.18. Following the sale, the insider directly owned 15,084 shares in the company, valued at approximately $1,541,735.64. This trade represents a 1.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Shake Shack

Several large investors have recently made changes to their positions in SHAK. Nordea Investment Management AB grew its position in Shake Shack by 36.6% during the third quarter. Nordea Investment Management AB now owns 106,317 shares of the company’s stock valued at $9,851,000 after buying an additional 28,487 shares during the period. Divisadero Street Capital Management LP increased its holdings in Shake Shack by 407.8% during the third quarter. Divisadero Street Capital Management LP now owns 56,985 shares of the company’s stock worth $5,334,000 after buying an additional 45,762 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Shake Shack in the third quarter worth about $8,416,000. Public Sector Pension Investment Board raised its position in Shake Shack by 14.5% in the third quarter. Public Sector Pension Investment Board now owns 156,998 shares of the company’s stock worth $14,697,000 after acquiring an additional 19,889 shares during the period. Finally, 12 West Capital Management LP boosted its stake in Shake Shack by 13.6% in the third quarter. 12 West Capital Management LP now owns 1,753,595 shares of the company’s stock valued at $164,154,000 after acquiring an additional 210,000 shares during the last quarter. 86.07% of the stock is owned by hedge funds and other institutional investors.

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.