Shake Shack (NYSE:SHAK) Price Target Lowered to $46.00 at Barclays

Shake Shack (NYSE:SHAKGet Rating) had its price objective cut by research analysts at Barclays from $57.00 to $46.00 in a report released on Thursday, The Fly reports. Barclays‘s price target would suggest a potential downside of 2.48% from the company’s previous close.

Several other brokerages have also commented on SHAK. Northcoast Research upgraded shares of Shake Shack from a “neutral” rating to a “buy” rating and set a $70.00 target price on the stock in a research report on Monday, May 16th. Truist Financial decreased their target price on shares of Shake Shack from $102.00 to $86.00 in a research report on Friday, May 6th. Morgan Stanley decreased their target price on shares of Shake Shack from $81.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 14th. Oppenheimer decreased their target price on shares of Shake Shack from $90.00 to $75.00 in a research report on Friday, May 6th. Finally, BTIG Research decreased their price objective on shares of Shake Shack from $85.00 to $70.00 in a research report on Friday, May 6th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $75.75.

Shares of SHAK opened at $47.17 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.04 and a current ratio of 3.07. The stock has a market capitalization of $1.98 billion, a P/E ratio of -90.71 and a beta of 1.47. The company’s fifty day moving average is $54.73 and its two-hundred day moving average is $65.03. Shake Shack has a 1 year low of $40.34 and a 1 year high of $111.49.

Shake Shack (NYSE:SHAKGet Rating) last issued its earnings results on Thursday, May 5th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.04. The company had revenue of $203.39 million for the quarter, compared to analyst estimates of $200.64 million. Shake Shack had a negative net margin of 2.55% and a negative return on equity of 2.87%. The business’s revenue was up 31.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.04 EPS. Sell-side analysts predict that Shake Shack will post -0.3 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Teachers Retirement System of The State of Kentucky increased its position in Shake Shack by 16.7% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 11,199 shares of the company’s stock worth $760,000 after purchasing an additional 1,600 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Shake Shack by 12.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,749 shares of the company’s stock worth $3,310,000 after acquiring an additional 5,329 shares during the period. Walleye Capital LLC boosted its holdings in Shake Shack by 1,181.4% in the 1st quarter. Walleye Capital LLC now owns 57,178 shares of the company’s stock worth $3,882,000 after acquiring an additional 52,716 shares during the period. Gamco Investors INC. ET AL boosted its holdings in Shake Shack by 13.3% in the 1st quarter. Gamco Investors INC. ET AL now owns 15,423 shares of the company’s stock worth $1,047,000 after acquiring an additional 1,807 shares during the period. Finally, Virtu Financial LLC boosted its holdings in Shake Shack by 72.8% in the 1st quarter. Virtu Financial LLC now owns 13,384 shares of the company’s stock worth $909,000 after acquiring an additional 5,640 shares during the period. 81.03% of the stock is owned by hedge funds and other institutional investors.

Shake Shack Company Profile (Get Rating)

Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, hot dogs, chicken, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. As of December 29, 2021, it operated 369 Shacks, including 218 domestic company-operated Shacks, 25 domestic licensed Shacks, and 126 international licensed Shacks.

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