Shake Shack (NYSE:SHAK) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Shake Shack (NYSE:SHAK) had its target price boosted by analysts at JPMorgan Chase & Co. from $75.00 to $77.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 0.21% from the company’s previous close.

A number of other equities analysts also recently commented on SHAK. Robert W. Baird raised shares of Shake Shack to a “hold” rating in a research note on Monday, August 24th. Royal Bank Of Canada assumed coverage on Shake Shack in a report on Tuesday, September 8th. They issued an “outperform” rating and a $89.00 price target for the company. TD Cowen reissued a “hold” rating on shares of Shake Shack in a research report on Wednesday, August 5th. Wells Fargo & Company boosted their price objective on Shake Shack from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 21st. Finally, Zacks Research raised Shake Shack from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 5th. Sixteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $87.09.

Shake Shack Trading Down 0.4%

Shares of Shake Shack stock traded down $0.31 during mid-day trading on Tuesday, hitting $76.84. 309,273 shares of the stock were exchanged, compared to its average volume of 1,720,997. Shake Shack has a twelve month low of $51.60 and a twelve month high of $107.46. The stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of 74.79, a price-to-earnings-growth ratio of 7.82 and a beta of 1.75. The company has a 50-day simple moving average of $65.19 and a 200 day simple moving average of $74.29. The company has a current ratio of 1.67, a quick ratio of 1.64 and a debt-to-equity ratio of 0.43.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings results on Thursday, November 5th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.34 by $0.06. The company had revenue of $423.27 million during the quarter, compared to analysts’ expectations of $426.41 million. Shake Shack had a return on equity of 9.29% and a net margin of 2.56%. The firm’s revenue was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.36 EPS. Research analysts forecast that Shake Shack will post 1.14 EPS for the current year.

Institutional Trading of Shake Shack

A number of large investors have recently modified their holdings of SHAK. Assenagon Asset Management S.A. grew its position in Shake Shack by 48.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 323,692 shares of the company’s stock valued at $18,994,000 after buying an additional 106,075 shares in the last quarter. Sei Investments Co. lifted its position 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 valued at $3,688,000 after acquiring an additional 27,194 shares during the last quarter. Fund 1 Investments LLC acquired a new position in shares of Shake Shack in the 2nd quarter valued at $840,000. Raiffeisen Bank International AG purchased a new position in shares of Shake Shack in the second quarter worth approximately $1,644,000. Finally, Bank of America Corp DE raised its stake in Shake Shack by 9.3% during the 1st quarter. Bank of America Corp DE now owns 899,013 shares of the company’s stock valued at $79,536,000 after purchasing an additional 76,724 shares during the period. Institutional investors and hedge funds own 86.07% of the company’s stock.

About Shake Shack

Shake Shack operates a fast-casual restaurant business focused on burgers, chicken, hot dogs, crinkle-cut fries, shakes and frozen custard. Some locations also serve beer and wine. The company serves customers through restaurants and digital ordering, including delivery.

The business grew from a hot dog cart opened in New York City’s Madison Square Park in 2001. Shake Shack opened its first permanent kiosk in the park in 2004 and has since expanded its restaurant operations.

Shake Shack serves customers in the United States and internationally.