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

Shake Shack (NYSE:SHAK) had its target price raised by equities research analysts at Stifel Nicolaus from $115.00 to $128.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ target price would suggest a potential downside of 0.80% from the company’s previous close.

Several other equities analysts have also recently weighed in on SHAK. Gordon Haskett upgraded Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 price objective on the stock in a report on Wednesday. Barclays raised shares of Shake Shack from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $125.00 to $159.00 in a research note on Tuesday. Truist Financial increased their price objective on shares of Shake Shack from $147.00 to $149.00 and gave the stock a “buy” rating in a research report on Wednesday. UBS Group raised their price objective on shares of Shake Shack from $130.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Oppenheimer upped their target price on shares of Shake Shack from $145.00 to $155.00 and gave the stock an “outperform” rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $122.89.

Shake Shack Trading Down 2.8 %

NYSE:SHAK traded down $3.78 during trading hours on Friday, hitting $129.03. The stock had a trading volume of 344,474 shares, compared to its average volume of 943,953. The business’s 50 day moving average is $130.04 and its 200-day moving average is $109.89. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.98 and a current ratio of 2.01. The company has a market cap of $5.48 billion, a price-to-earnings ratio of 759.00, a P/E/G ratio of 2.83 and a beta of 1.86. Shake Shack has a one year low of $64.16 and a one year high of $139.89.

Shake Shack (NYSE:SHAK) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. The business had revenue of $316.92 million during the quarter, compared to analysts’ expectations of $316.03 million. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.17 EPS. Sell-side analysts anticipate that Shake Shack will post 0.82 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Daniel Harris Meyer sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $121.79, for a total transaction of $3,653,700.00. Following the transaction, the director now directly owns 407,646 shares of the company’s stock, valued at approximately $49,647,206.34. The trade was a 6.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Katherine Irene Fogertey sold 642 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $137.51, for a total value of $88,281.42. Following the sale, the chief financial officer now directly owns 30,717 shares of the company’s stock, valued at $4,223,894.67. This represents a 2.05 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,333 shares of company stock worth $6,566,330. Insiders own 9.73% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 Asset Management L.P. increased its position in Shake Shack by 154.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 650,685 shares of the company’s stock worth $67,157,000 after buying an additional 395,311 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Shake Shack during the third quarter worth about $39,677,000. Holocene Advisors LP increased its position in Shake Shack by 68.3% during the third quarter. Holocene Advisors LP now owns 946,350 shares of the company’s stock worth $97,673,000 after acquiring an additional 384,131 shares during the period. Marshall Wace LLP raised its stake in Shake Shack by 101.2% in the 2nd quarter. Marshall Wace LLP now owns 544,336 shares of the company’s stock worth $48,990,000 after purchasing an additional 273,822 shares in the last quarter. Finally, Armistice Capital LLC boosted its holdings in Shake Shack by 69.1% in the 2nd quarter. Armistice Capital LLC now owns 579,904 shares of the company’s stock valued at $52,191,000 after purchasing an additional 236,950 shares during the period. Institutional investors and hedge funds own 86.07% 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, 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.