Barclays Issues Positive Forecast for Shake Shack (NYSE:SHAK) Stock Price

Shake Shack (NYSE:SHAK) had its price objective hoisted by equities researchers at Barclays from $115.00 to $125.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price would indicate a potential upside of 2.40% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on SHAK. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $115.00 target price on shares of Shake Shack in a research report on Wednesday, August 28th. Piper Sandler cut Shake Shack from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $121.00 to $114.00 in a report on Monday, August 19th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $102.00 price objective (down from $105.00) on shares of Shake Shack in a report on Tuesday, September 24th. Oppenheimer raised their target price on Shake Shack from $122.00 to $135.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Morgan Stanley lowered their target price on Shake Shack from $108.00 to $100.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $109.06.

Shake Shack Stock Performance

Shares of SHAK traded down $0.40 during midday trading on Thursday, hitting $122.07. 760,009 shares of the stock traded hands, compared to its average volume of 939,736. Shake Shack has a 1-year low of $54.06 and a 1-year high of $130.20. The firm has a market capitalization of $5.16 billion, a PE ratio of 221.93, a price-to-earnings-growth ratio of 3.23 and a beta of 1.83. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.03 and a current ratio of 2.06. The business’s 50 day moving average price is $105.57 and its two-hundred day moving average price is $98.49.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.20 by $0.05. The firm had revenue of $316.92 million for the quarter, compared to analysts’ expectations of $316.03 million. Shake Shack had a net margin of 2.23% and a return on equity of 5.63%. Shake Shack’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.17 earnings per share. Equities research analysts predict that Shake Shack will post 0.74 EPS for the current fiscal year.

Insider Activity

In other Shake Shack news, CFO Katherine Irene Fogertey sold 963 shares of Shake Shack stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $96.03, for a total transaction of $92,476.89. Following the completion of the sale, the chief financial officer now owns 37,464 shares of the company’s stock, valued at $3,597,667.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Shake Shack news, CFO Katherine Irene Fogertey sold 963 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $96.03, for a total transaction of $92,476.89. Following the transaction, the chief financial officer now owns 37,464 shares in the company, valued at approximately $3,597,667.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey Flug sold 304 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $90.39, for a total value of $27,478.56. Following the completion of the sale, the director now owns 3,347 shares in the company, valued at $302,535.33. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,330 shares of company stock worth $2,429,690. 9.73% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Shake Shack

Institutional investors have recently bought and sold shares of the stock. Hsbc Holdings PLC raised its holdings in Shake Shack by 303.3% in the 2nd quarter. Hsbc Holdings PLC now owns 16,604 shares of the company’s stock worth $1,460,000 after purchasing an additional 12,487 shares during the period. Virtu Financial LLC purchased a new stake in Shake Shack in the 1st quarter worth $653,000. Janney Montgomery Scott LLC purchased a new stake in Shake Shack in the 1st quarter worth $853,000. Jennison Associates LLC purchased a new stake in Shake Shack in the 1st quarter worth $16,365,000. Finally, CANADA LIFE ASSURANCE Co increased its stake in Shake Shack by 20.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 37,535 shares of the company’s stock worth $3,903,000 after buying an additional 6,411 shares in the last quarter. 86.07% of the stock is owned by institutional investors.

About Shake Shack

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.