Shake Shack (NYSE:SHAK) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of Shake Shack (NYSE:SHAK) from an underweight rating to an equal weight rating in a research report report published on Thursday, December 7th, MarketBeat.com reports. Morgan Stanley currently has $34.00 target price on the stock, down from their prior target price of $43.04.

SHAK has been the topic of a number of other research reports. BidaskClub raised Shake Shack from a buy rating to a strong-buy rating in a research report on Tuesday, November 14th. SunTrust Banks restated a buy rating and issued a $48.00 price target on shares of Shake Shack in a research note on Thursday, October 12th. Cowen boosted their target price on shares of Shake Shack from $35.00 to $36.00 and gave the stock a market perform rating in a research note on Thursday, November 2nd. Wedbush reiterated a buy rating on shares of Shake Shack in a research note on Thursday, August 17th. Finally, Barclays upped their price objective on shares of Shake Shack from $34.00 to $36.00 and gave the company an equal weight rating in a research note on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. Shake Shack presently has an average rating of Hold and an average price target of $37.76.

Shake Shack (NYSE:SHAK) traded down $1.30 during trading hours on Thursday, hitting $43.20. The stock had a trading volume of 577,468 shares, compared to its average volume of 712,413. Shake Shack has a 52-week low of $30.12 and a 52-week high of $46.90. The firm has a market cap of $1,634.44, a PE ratio of 69.68, a PEG ratio of 3.81 and a beta of 1.43.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings data on Wednesday, November 1st. The company reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.02. Shake Shack had a return on equity of 9.42% and a net margin of 4.78%. The company had revenue of $94.60 million for the quarter, compared to analysts’ expectations of $94.17 million. During the same period in the previous year, the firm posted $0.15 EPS. Shake Shack’s revenue was up 26.8% compared to the same quarter last year. equities research analysts anticipate that Shake Shack will post 0.52 earnings per share for the current year.

In other Shake Shack news, COO Zach Koff sold 5,000 shares of the stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $37.00, for a total transaction of $185,000.00. Following the transaction, the chief operating officer now owns 8,978 shares of the company’s stock, valued at $332,186. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Randall J. Garutti sold 8,000 shares of the stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $35.62, for a total transaction of $284,960.00. Following the transaction, the chief executive officer now directly owns 18,961 shares in the company, valued at approximately $675,390.82. The disclosure for this sale can be found here. Insiders sold 906,461 shares of company stock worth $37,017,489 over the last quarter. Company insiders own 34.91% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of SHAK. Alps Advisors Inc. boosted its stake in Shake Shack by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 15,588 shares of the company’s stock valued at $544,000 after purchasing an additional 41 shares during the period. Municipal Employees Retirement System of Michigan raised its position in shares of Shake Shack by 6.8% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 4,380 shares of the company’s stock worth $153,000 after buying an additional 280 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of Shake Shack by 4.1% during the 2nd quarter. Louisiana State Employees Retirement System now owns 7,600 shares of the company’s stock worth $265,000 after buying an additional 300 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Shake Shack by 0.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 101,162 shares of the company’s stock worth $3,529,000 after buying an additional 320 shares in the last quarter. Finally, Arizona State Retirement System raised its position in shares of Shake Shack by 4.3% during the 2nd quarter. Arizona State Retirement System now owns 9,700 shares of the company’s stock worth $338,000 after buying an additional 400 shares in the last quarter. 83.16% of the stock is owned by institutional investors and hedge funds.

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Shake Shack Company Profile

Shake Shack Inc operates roadside burger stands. The Company serves an American menu of burgers, hot dogs, crispy chicken, frozen custard, crinkle cut fries, shakes, beer and wine, among others. The Company’s signature items are its all-natural, hormone and antibiotic-free burgers, hot dogs, crispy chicken, crinkle cut fries, shakes and frozen custard.

Analyst Recommendations for Shake Shack (NYSE:SHAK)

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