Shake Shack (NYSE:SHAK) Upgraded at Zacks Investment Research

Shake Shack (NYSE:SHAK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday, Zacks.com reports. The firm presently has a $83.00 price objective on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 11.86% from the company’s previous close.

According to Zacks, “Shake Shack Inc. is engaged in owning and operating restaurants. The company offers burgers, hot dogs, frozen custard, crinkle cut fries, beer and wine. It operates primarily in New York, New Jersey, Washington, D.C., Connecticut, Georgia, Illinois, Pennsylvania, Florida, Massachusetts, Virginia, Nevada, London, Istanbul and Dubai. Shake Shack Inc. is headquartered in New York. “

Other equities research analysts also recently issued research reports about the company. ValuEngine upgraded Zuora from a “hold” rating to a “buy” rating in a research report on Saturday, July 6th. SunTrust Banks increased their price objective on shares of Paylocity to $108.00 and gave the stock a “positive” rating in a research note on Friday, May 3rd. Morgan Stanley set a $226.00 price objective on shares of S&P Global and gave the company a “hold” rating in a report on Friday, May 3rd. Stifel Nicolaus set a $95.00 price objective on shares of C.H. Robinson Worldwide and gave the company a “buy” rating in a report on Friday, May 3rd. Finally, Piper Jaffray Companies set a $173.00 price target on shares of DexCom and gave the stock a “buy” rating in a research note on Monday. Seven equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Shake Shack has an average rating of “Buy” and a consensus price target of $63.17.

Shares of NYSE SHAK opened at $74.20 on Friday. Shake Shack has a twelve month low of $40.67 and a twelve month high of $76.49. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.17 and a quick ratio of 1.15. The business has a 50 day simple moving average of $68.30. The stock has a market cap of $2.75 billion, a P/E ratio of 104.51, a PEG ratio of 5.60 and a beta of 1.41.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. The business had revenue of $132.60 million for the quarter, compared to the consensus estimate of $127.23 million. Shake Shack had a return on equity of 9.64% and a net margin of 2.88%. Shake Shack’s revenue for the quarter was up 33.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.15 earnings per share. Research analysts expect that Shake Shack will post 0.59 earnings per share for the current fiscal year.

In related news, Director Jonathan D. Sokoloff sold 229,962 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $60.20, for a total transaction of $13,843,712.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel Harris Meyer sold 1,000 shares of the stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $60.11, for a total transaction of $60,110.00. Following the sale, the director now directly owns 1,032 shares of the company’s stock, valued at approximately $62,033.52. The disclosure for this sale can be found here. Insiders sold a total of 1,176,979 shares of company stock worth $77,618,060 over the last quarter. Insiders own 21.85% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of SHAK. Oregon Public Employees Retirement Fund boosted its position in Shake Shack by 1.8% during the first quarter. Oregon Public Employees Retirement Fund now owns 10,010 shares of the company’s stock valued at $592,000 after purchasing an additional 181 shares during the last quarter. LS Investment Advisors LLC increased its stake in Shake Shack by 4.7% during the 1st quarter. LS Investment Advisors LLC now owns 4,372 shares of the company’s stock worth $259,000 after acquiring an additional 196 shares during the period. LPL Financial LLC increased its stake in Shake Shack by 5.2% during the 4th quarter. LPL Financial LLC now owns 5,015 shares of the company’s stock worth $228,000 after acquiring an additional 248 shares during the period. Arizona State Retirement System increased its stake in Shake Shack by 0.7% during the 1st quarter. Arizona State Retirement System now owns 40,097 shares of the company’s stock worth $2,372,000 after acquiring an additional 294 shares during the period. Finally, Mason Street Advisors LLC increased its stake in shares of Shake Shack by 4.0% in the 1st quarter. Mason Street Advisors LLC now owns 8,348 shares of the company’s stock valued at $494,000 after purchasing an additional 321 shares during the last quarter. 84.37% of the stock is owned by hedge funds and other institutional investors.

Shake Shack Company Profile

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.

Further Reading: How To Calculate Debt-to-Equity Ratio

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