Shake Shack (SHAK) Given “Equal Weight” Rating at Barclays

Barclays reiterated their equal weight rating on shares of Shake Shack (NYSE:SHAK) in a research report released on Tuesday. Barclays currently has a $49.00 price target on the stock, up from their prior price target of $36.00.

A number of other analysts have also recently commented on SHAK. BidaskClub upgraded shares of Shake Shack from a strong sell rating to a sell rating in a report on Saturday, September 23rd. Morgan Stanley boosted their target price on Shake Shack from $32.00 to $34.00 and gave the stock an equal weight rating in a research report on Thursday, November 2nd. Jefferies Group lowered Shake Shack from a hold rating to an underperform rating and set a $36.00 target price for the company. in a research report on Saturday, December 30th. Wedbush lowered shares of Shake Shack from an outperform rating to a neutral rating and reduced their price target for the company from $40.00 to $36.00 in a research report on Tuesday, September 26th. Finally, Cowen boosted their price objective on Shake Shack from $36.00 to $42.00 and gave the company a market perform rating in a research note on Tuesday, December 19th. 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 a consensus rating of Hold and a consensus target price of $38.94.

Shares of Shake Shack (NYSE:SHAK) traded down $0.59 on Tuesday, reaching $42.56. 742,300 shares of the company were exchanged, compared to its average volume of 691,810. The stock has a market capitalization of $1,600.00 and a P/E ratio of 68.65. Shake Shack has a 1-year low of $30.12 and a 1-year high of $47.39.

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

In other Shake Shack news, SVP Peggy Rubenzer sold 5,400 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $37.90, for a total value of $204,660.00. Following the completion of the sale, the senior vice president now owns 22,815 shares of the company’s stock, valued at $864,688.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Zach Koff sold 5,000 shares of the firm’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $37.00, for a total value of $185,000.00. Following the completion of the sale, the chief operating officer now directly owns 8,978 shares of the company’s stock, valued at approximately $332,186. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,058,737 shares of company stock worth $43,750,477. 34.91% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Ameriprise Financial Inc. boosted its holdings in Shake Shack by 4.6% in the second quarter. Ameriprise Financial Inc. now owns 108,715 shares of the company’s stock worth $3,792,000 after acquiring an additional 4,764 shares in the last quarter. FMR LLC boosted its holdings in Shake Shack by 5.7% in the second quarter. FMR LLC now owns 2,615,287 shares of the company’s stock worth $91,221,000 after acquiring an additional 142,140 shares in the last quarter. Wasatch Advisors Inc. purchased a new position in shares of Shake Shack in the third quarter worth about $1,994,000. Macquarie Group Ltd. raised its stake in shares of Shake Shack by 18.9% in the second quarter. Macquarie Group Ltd. now owns 844,390 shares of the company’s stock worth $29,452,000 after purchasing an additional 134,386 shares during the last quarter. Finally, Fred Alger Management Inc. raised its stake in shares of Shake Shack by 163.8% in the second quarter. Fred Alger Management Inc. now owns 592,963 shares of the company’s stock worth $20,683,000 after purchasing an additional 368,185 shares during the last quarter. 83.46% 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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