Shake Shack (NYSE:SHAK) Earns “Outperform” Rating from TD Cowen

Shake Shack (NYSE:SHAKGet Free Report)‘s stock had its “outperform” rating reaffirmed by TD Cowen in a report released on Thursday, Benzinga reports. They currently have a $125.00 price objective on the stock. TD Cowen’s price target would indicate a potential upside of 15.52% from the company’s current price.

A number of other analysts have also recently weighed in on the stock. Oppenheimer boosted their target price on shares of Shake Shack from $80.00 to $108.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. Truist Financial boosted their target price on shares of Shake Shack from $90.00 to $112.00 and gave the company a “buy” rating in a report on Friday, February 16th. Robert W. Baird boosted their target price on shares of Shake Shack from $67.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, February 13th. HSBC started coverage on shares of Shake Shack in a report on Wednesday, December 20th. They issued a “hold” rating and a $74.00 target price on the stock. Finally, Wedbush reiterated a “neutral” rating and set a $80.00 price objective on shares of Shake Shack in a report on Wednesday, February 14th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $85.56.

Read Our Latest Report on SHAK

Shake Shack Price Performance

SHAK traded down $1.01 during trading on Thursday, hitting $108.21. 754,307 shares of the stock traded hands, compared to its average volume of 1,016,312. Shake Shack has a twelve month low of $52.40 and a twelve month high of $109.25. The company has a market cap of $4.58 billion, a price-to-earnings ratio of 236.04, a PEG ratio of 3.97 and a beta of 1.81. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.04 and a quick ratio of 2.01. The business has a 50 day moving average price of $87.61 and a 200 day moving average price of $71.21.

Shake Shack (NYSE:SHAKGet Free Report) last posted its earnings results on Thursday, February 15th. The company reported $0.02 earnings per share for the quarter. The firm had revenue of $286.20 million for the quarter, compared to analysts’ expectations of $280.45 million. Shake Shack had a net margin of 1.82% and a return on equity of 3.67%. The company’s revenue was up 20.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.06) earnings per share. Equities research analysts forecast that Shake Shack will post 0.71 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Daniel Harris Meyer sold 40,000 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $106.34, for a total transaction of $4,253,600.00. Following the sale, the director now owns 480,437 shares in the company, valued at approximately $51,089,670.58. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Daniel Harris Meyer sold 40,000 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $106.34, for a total transaction of $4,253,600.00. Following the transaction, the director now owns 480,437 shares of the company’s stock, valued at approximately $51,089,670.58. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jeffrey Flug sold 304 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $108.05, for a total transaction of $32,847.20. Following the transaction, the director now directly owns 4,058 shares in the company, valued at approximately $438,466.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 101,379 shares of company stock worth $10,228,398. 10.06% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Shake Shack

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Shake Shack by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 4,071,207 shares of the company’s stock valued at $276,435,000 after purchasing an additional 48,614 shares in the last quarter. 12 West Capital Management LP lifted its position in Shake Shack by 82.2% during the 3rd quarter. 12 West Capital Management LP now owns 1,659,600 shares of the company’s stock valued at $96,373,000 after acquiring an additional 748,789 shares during the period. State Street Corp lifted its position in Shake Shack by 2.4% during the 2nd quarter. State Street Corp now owns 1,318,230 shares of the company’s stock valued at $102,453,000 after acquiring an additional 30,401 shares during the period. Van Berkom & Associates Inc. lifted its position in Shake Shack by 19.3% during the 3rd quarter. Van Berkom & Associates Inc. now owns 1,046,339 shares of the company’s stock valued at $60,761,000 after acquiring an additional 168,947 shares during the period. Finally, Geode Capital Management LLC lifted its position in Shake Shack by 4.4% during the 2nd quarter. Geode Capital Management LLC now owns 723,269 shares of the company’s stock valued at $56,212,000 after acquiring an additional 30,739 shares during the period. Institutional investors own 91.70% of the company’s stock.

About Shake Shack

(Get Free Report)

Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, chicken, hot dogs, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. The company was founded in 2001 and is headquartered in New York, New York.

Further Reading

Analyst Recommendations for Shake Shack (NYSE:SHAK)

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