Shake Shack (NYSE:SHAK) Receives “Buy” Rating from Oppenheimer


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Oppenheimer reaffirmed their buy rating on shares of Shake Shack (NYSE:SHAK) in a research report report published on Wednesday, The Fly reports. They currently have a $115.00 target price on the stock, up from their prior target price of $110.00. Oppenheimer also issued estimates for Shake Shack’s Q4 2020 earnings at ($0.16) EPS and FY2020 earnings at ($0.70) EPS.

A number of other equities analysts have also commented on SHAK. JPMorgan Chase & Co. boosted their price objective on shares of Shake Shack from $51.00 to $55.00 and gave the stock an underweight rating in a report on Tuesday, October 20th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Shake Shack from $55.00 to $70.00 and gave the stock a buy rating in a report on Monday, November 2nd. ValuEngine lowered shares of Shake Shack from a buy rating to a hold rating in a report on Wednesday, December 2nd. BidaskClub lowered shares of Shake Shack from a strong-buy rating to a buy rating in a report on Thursday, December 31st. Finally, Wedbush lowered shares of Shake Shack from an outperform rating to a neutral rating and set a $77.00 price objective on the stock. in a report on Friday, November 20th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company. Shake Shack currently has an average rating of Hold and an average target price of $70.16.

NYSE:SHAK opened at $109.33 on Wednesday. The firm has a market capitalization of $4.53 billion, a price-to-earnings ratio of -520.62 and a beta of 1.71. The firm’s fifty day simple moving average is $86.68 and its 200 day simple moving average is $68.77. Shake Shack has a twelve month low of $30.01 and a twelve month high of $113.00.

Shake Shack (NYSE:SHAK) last posted its earnings results on Thursday, October 29th. The company reported ($0.11) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.10. The business had revenue of $130.40 million for the quarter, compared to analyst estimates of $125.43 million. Shake Shack had a negative net margin of 1.64% and a negative return on equity of 1.40%. The business’s quarterly revenue was down 17.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.26 EPS. Equities research analysts forecast that Shake Shack will post -0.77 EPS for the current year.

In related news, Director Daniel Harris Meyer sold 125,000 shares of the business’s stock in a transaction dated Tuesday, December 1st. The shares were sold at an average price of $80.97, for a total transaction of $10,121,250.00. Following the completion of the sale, the director now owns 985 shares of the company’s stock, valued at approximately $79,755.45. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Zach Koff sold 700 shares of the business’s stock in a transaction dated Thursday, December 10th. The shares were sold at an average price of $84.86, for a total transaction of $59,402.00. Following the sale, the chief operating officer now directly owns 18,845 shares of the company’s stock, valued at approximately $1,599,186.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 440,756 shares of company stock valued at $34,137,582. Insiders own 14.98% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of SHAK. Bank of Montreal Can grew its position in Shake Shack by 88.1% in the 2nd quarter. Bank of Montreal Can now owns 17,480 shares of the company’s stock worth $844,000 after purchasing an additional 8,187 shares during the last quarter. Advisor Group Holdings Inc. grew its position in Shake Shack by 73.4% in the 2nd quarter. Advisor Group Holdings Inc. now owns 5,044 shares of the company’s stock worth $267,000 after purchasing an additional 2,135 shares during the last quarter. Vanguard Group Inc. grew its position in Shake Shack by 20.8% in the 2nd quarter. Vanguard Group Inc. now owns 3,743,135 shares of the company’s stock worth $198,312,000 after purchasing an additional 644,910 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in Shake Shack by 204.9% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 20,523 shares of the company’s stock worth $1,087,000 after purchasing an additional 13,792 shares during the last quarter. Finally, Man Group plc grew its position in Shake Shack by 193.8% in the 2nd quarter. Man Group plc now owns 18,764 shares of the company’s stock worth $994,000 after purchasing an additional 12,378 shares during the last quarter. Hedge funds and other institutional investors own 92.25% of the company’s stock.

About Shake Shack

Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, hot dogs, chicken, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. As of December 26, 2018, it operated 208 Shacks, including 124 domestic company-operated Shacks, 12 domestic licensed Shacks, and 72 international licensed Shacks.

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Analyst Recommendations for Shake Shack (NYSE:SHAK)

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