Shake Shack (NYSE:SHAK) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Shake Shack (NYSE:SHAK) from a sell rating to a hold rating in a research report report published on Saturday morning,Wall Street Zen reports.

Several other equities analysts have also issued reports on the company. Citigroup reaffirmed a “buy” rating on shares of Shake Shack in a research report on Wednesday, June 3rd. Robert W. Baird upgraded shares of Shake Shack to a “hold” rating in a research note on Monday, August 24th. Morgan Stanley set a $74.00 target price on shares of Shake Shack in a report on Thursday, August 6th. Mizuho set a $90.00 target price on shares of Shake Shack in a report on Thursday, August 6th. Finally, DA Davidson upped their target price on shares of Shake Shack from $70.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Sixteen analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $89.71.

Shake Shack Stock Performance

Shake Shack stock opened at $63.74 on Friday. Shake Shack has a twelve month low of $51.60 and a twelve month high of $107.46. The company has a quick ratio of 1.64, a current ratio of 1.67 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $2.73 billion, a P/E ratio of 67.81, a PEG ratio of 7.03 and a beta of 1.66. The stock’s 50 day moving average is $65.68 and its 200 day moving average is $74.10.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $417.18 million. During the same quarter in the previous year, the business earned $0.44 earnings per share. The firm’s quarterly revenue was up 17.2% compared to the same quarter last year. On average, equities research analysts predict that Shake Shack will post 1.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Shake Shack

Several institutional investors have recently modified their holdings of SHAK. Intech Investment Management LLC grew its position in Shake Shack by 40.1% during the fourth quarter. Intech Investment Management LLC now owns 77,916 shares of the company’s stock valued at $6,324,000 after buying an additional 22,287 shares during the period. Jefferies Financial Group Inc. bought a new position in Shake Shack in the fourth quarter worth approximately $2,898,000. Swedbank AB bought a new position in Shake Shack in the fourth quarter worth approximately $84,092,000. Sei Investments Co. boosted its stake in shares of Shake Shack by 187.7% during the 1st quarter. Sei Investments Co. now owns 41,683 shares of the company’s stock worth $3,688,000 after acquiring an additional 27,194 shares during the last quarter. Finally, Wasatch Advisors LP boosted its stake in shares of Shake Shack by 16.5% during the 1st quarter. Wasatch Advisors LP now owns 407,283 shares of the company’s stock worth $36,032,000 after acquiring an additional 57,612 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) operates a global chain of fast-casual restaurants known for made-to-order burgers, chicken sandwiches, hot dogs, crinkle-cut fries, frozen custard, shakes, and other beverages. Its menu also includes beer and wine at select locations, with an emphasis on premium ingredients and hospitality-focused service.

The company traces its origins to a hot dog cart opened in New York City’s Madison Square Park in 2001 as part of a park revitalization project. The first permanent Shake Shack restaurant opened in the park in 2004.