Shake Shack’s (SHAK) “Buy” Rating Reaffirmed at TD Cowen

TD Cowen reiterated their buy rating on shares of Shake Shack (NYSE:SHAK) in a report released on Thursday, Benzinga reports. They currently have a $125.00 target price on the stock.

A number of other equities analysts also recently commented on the company. Robert W. Baird lifted their target price on Shake Shack from $102.00 to $105.00 and gave the company a neutral rating in a research note on Friday, May 3rd. Barclays lifted their target price on Shake Shack from $92.00 to $108.00 and gave the company an equal weight rating in a research note on Friday, May 3rd. JPMorgan Chase & Co. lifted their target price on Shake Shack from $102.00 to $105.00 and gave the company an underweight rating in a research note on Monday, June 3rd. The Goldman Sachs Group began coverage on Shake Shack in a research report on Thursday. They set a buy rating and a $110.00 price objective for the company. Finally, Oppenheimer boosted their price objective on Shake Shack from $108.00 to $120.00 and gave the stock an outperform rating in a research report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $99.17.

Shake Shack Stock Down 4.3 %

Shares of Shake Shack stock opened at $89.00 on Thursday. The company has a quick ratio of 1.99, a current ratio of 2.03 and a debt-to-equity ratio of 0.52. The firm has a market cap of $3.77 billion, a P/E ratio of 161.82, a P/E/G ratio of 3.52 and a beta of 1.79. Shake Shack has a fifty-two week low of $52.79 and a fifty-two week high of $111.29. The business has a 50-day moving average price of $98.49 and a 200 day moving average price of $89.03.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.03. Shake Shack had a return on equity of 4.86% and a net margin of 2.08%. The firm had revenue of $290.50 million during the quarter, compared to analyst estimates of $291.00 million. During the same period in the previous year, the company earned ($0.01) earnings per share. Shake Shack’s quarterly revenue was up 14.7% on a year-over-year basis. On average, sell-side analysts forecast that Shake Shack will post 0.74 earnings per share for the current fiscal year.

Insider Buying and Selling at Shake Shack

In other Shake Shack news, Director Jeffrey Flug sold 304 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $103.01, for a total transaction of $31,315.04. Following the sale, the director now directly owns 3,754 shares of the company’s stock, valued at approximately $386,699.54. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 9.73% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Shake Shack

Institutional investors and hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio purchased a new position in shares of Shake Shack during the 3rd quarter valued at $1,700,000. Madison Asset Management LLC boosted its holdings in Shake Shack by 52.6% in the fourth quarter. Madison Asset Management LLC now owns 84,062 shares of the company’s stock worth $6,231,000 after purchasing an additional 28,975 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in Shake Shack by 60.7% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 77,901 shares of the company’s stock worth $5,774,000 after purchasing an additional 29,431 shares in the last quarter. Lisanti Capital Growth LLC bought a new stake in Shake Shack in the fourth quarter worth $2,784,000. Finally, Principal Financial Group Inc. boosted its holdings in Shake Shack by 31.4% in the fourth quarter. Principal Financial Group Inc. now owns 263,256 shares of the company’s stock worth $19,513,000 after purchasing an additional 62,897 shares in the last quarter. 86.07% of the stock is currently owned by hedge funds and other 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.