Shake Shack (NYSE:SHAK) Reaches New 52-Week High – Here’s What Happened

Shares of Shake Shack Inc. (NYSE:SHAK) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $132.17 and last traded at $132.12, with a volume of 13217 shares changing hands. The stock had previously closed at $126.80.

Analysts Set New Price Targets

A number of research firms recently weighed in on SHAK. Barclays upped their price target on Shake Shack from $115.00 to $125.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Piper Sandler downgraded Shake Shack from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $121.00 to $114.00 in a research note on Monday, August 19th. Oppenheimer increased their price target on shares of Shake Shack from $122.00 to $135.00 and gave the company an “outperform” rating in a research report on Monday, October 28th. Truist Financial upped their target price on Shake Shack from $127.00 to $144.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and set a $102.00 price target (down previously from $105.00) on shares of Shake Shack in a research report on Tuesday, September 24th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, six have issued a buy rating and one has given 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 $110.00.

Shake Shack Price Performance

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’s fifty day moving average price is $106.88 and its 200 day moving average price is $99.31. The firm has a market capitalization of $5.66 billion, a price-to-earnings ratio of 746.41, a price-to-earnings-growth ratio of 2.84 and a beta of 1.81.

Shake Shack (NYSE:SHAK) last released 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 business had revenue of $316.92 million during the quarter, compared to analyst estimates of $316.03 million. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The company’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.17 earnings per share. Equities research analysts expect that Shake Shack Inc. will post 0.81 earnings per share for the current year.

Insider Transactions at Shake Shack

In related news, Director Daniel Harris Meyer sold 30,000 shares of the company’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 of the company’s stock, valued at $49,647,206.34. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Katherine Irene Fogertey sold 321 shares of Shake Shack stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $103.93, for a total transaction of $33,361.53. Following the transaction, the chief financial officer now directly owns 36,180 shares in the company, valued at approximately $3,760,187.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel Harris Meyer sold 30,000 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $49,647,206.34. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,433 shares of company stock valued at $8,757,256. 9.73% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Shake Shack

Several hedge funds and other institutional investors have recently bought and sold shares of SHAK. Allspring Global Investments Holdings LLC bought a new stake in shares of Shake Shack in the 1st quarter worth approximately $25,000. Quest Partners LLC bought a new stake in shares of Shake Shack during the 2nd quarter worth $38,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Shake Shack during the 3rd quarter worth $41,000. Kimelman & Baird LLC acquired a new position in shares of Shake Shack in the 2nd quarter worth $45,000. Finally, Covestor Ltd raised its position in shares of Shake Shack by 32,150.0% during the first quarter. Covestor Ltd now owns 645 shares of the company’s stock worth $67,000 after purchasing an additional 643 shares during the period. 86.07% of the stock is currently 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.