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

Shake Shack (NYSE:SHAK) had its target price boosted by equities research analysts at Truist Financial from $147.00 to $149.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective indicates a potential upside of 13.51% from the stock’s previous close.

Several other analysts have also issued reports on SHAK. Oppenheimer increased their price objective on Shake Shack from $145.00 to $155.00 and gave the stock an “outperform” rating in a report on Tuesday. Gordon Haskett raised Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 price target for the company in a research note on Wednesday. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $102.00 price objective (down previously from $105.00) on shares of Shake Shack in a research report on Tuesday, September 24th. Barclays upgraded shares of Shake Shack from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $125.00 to $159.00 in a research note on Tuesday. Finally, UBS Group lifted their price objective on shares of Shake Shack from $130.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $122.59.

Shake Shack Trading Down 0.6 %

Shake Shack stock traded down $0.76 during midday trading on Wednesday, reaching $131.27. The stock had a trading volume of 223,346 shares, compared to its average volume of 908,433. The firm’s fifty day simple moving average is $129.61 and its two-hundred day simple moving average is $109.57. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.01 and a quick ratio of 1.98. Shake Shack has a twelve month low of $64.16 and a twelve month high of $139.89. The firm has a market cap of $5.58 billion, a price-to-earnings ratio of 772.18, a PEG ratio of 2.83 and a beta of 1.86.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. The business had revenue of $316.92 million for the quarter, compared to the consensus estimate of $316.03 million. Shake Shack had a return on equity of 6.28% and a net margin of 0.68%. Shake Shack’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 earnings per share. Equities analysts anticipate that Shake Shack will post 0.82 EPS for the current fiscal year.

Insiders Place Their Bets

In other Shake Shack news, Director Daniel Harris Meyer sold 30,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $121.79, for a total value of $3,653,700.00. Following the completion of the sale, the director now owns 407,646 shares in the company, valued at approximately $49,647,206.34. This trade represents a 6.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Katherine Irene Fogertey sold 642 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $137.51, for a total transaction of $88,281.42. Following the transaction, the chief financial officer now owns 30,717 shares in the company, valued at $4,223,894.67. The trade was a 2.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 53,333 shares of company stock worth $6,566,330 over the last 90 days. Corporate insiders own 9.73% of the company’s stock.

Institutional Investors Weigh In On Shake Shack

Several hedge funds and other institutional investors have recently made changes to their positions in SHAK. Hsbc Holdings PLC lifted its stake in Shake Shack by 303.3% in the second quarter. Hsbc Holdings PLC now owns 16,604 shares of the company’s stock valued at $1,460,000 after buying an additional 12,487 shares during the period. Fisher Asset Management LLC boosted its stake in Shake Shack by 4.8% during the 3rd quarter. Fisher Asset Management LLC now owns 354,114 shares of the company’s stock worth $36,548,000 after acquiring an additional 16,097 shares during the last quarter. GDS Wealth Management acquired a new position in Shake Shack during the third quarter valued at approximately $417,000. Charles Schwab Investment Management Inc. increased its stake in Shake Shack by 7.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 353,501 shares of the company’s stock valued at $36,485,000 after purchasing an additional 24,813 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of Shake Shack by 3.6% in the 3rd quarter. FMR LLC now owns 243,549 shares of the company’s stock valued at $25,137,000 after buying an additional 8,512 shares during the period. 86.07% of the stock is owned by institutional investors and hedge funds.

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.