Shake Shack Inc. (NYSE:SHAK) Given Average Rating of “Hold” by Brokerages

Posted by MarketBeat News on Aug 3rd, 2022

Shares of Shake Shack Inc. (NYSE:SHAK – Get Rating) have received an average recommendation of “Hold” from the twenty ratings firms that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $69.22.

Several equities research analysts have weighed in on the company. Truist Financial cut their target price on Shake Shack from $86.00 to $67.00 and set a “buy” rating for the company in a research note on Friday, July 1st. Cowen dropped their price target on Shake Shack from $70.00 to $52.00 in a research note on Wednesday, July 13th. Barclays dropped their price target on Shake Shack from $57.00 to $46.00 and set an “equal weight” rating for the company in a research note on Thursday, June 9th. Gordon Haskett began coverage on Shake Shack in a research note on Tuesday, July 19th. They issued a “hold” rating and a $50.00 price target for the company. Finally, Morgan Stanley dropped their price target on Shake Shack from $63.00 to $48.00 and set an “equal weight” rating for the company in a research note on Monday, July 18th.

Insiders Place Their Bets

In related news, Director Daniel Harris Meyer acquired 21,000 shares of the business’s stock in a transaction dated Monday, July 11th. The shares were bought at an average price of $39.58 per share, with a total value of $831,180.00. Following the transaction, the director now directly owns 576,364 shares of the company’s stock, valued at $22,812,487.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, COO Zach Koff sold 5,000 shares of the stock in a transaction dated Thursday, July 14th. The shares were sold at an average price of $45.00, for a total transaction of $225,000.00. Following the transaction, the chief operating officer now owns 31,085 shares of the company’s stock, valued at approximately $1,398,825. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel Harris Meyer acquired 21,000 shares of the business’s stock in a transaction dated Monday, July 11th. The shares were bought at an average cost of $39.58 per share, for a total transaction of $831,180.00. Following the transaction, the director now directly owns 576,364 shares in the company, valued at $22,812,487.12. The disclosure for this purchase can be found here. Company insiders own 9.98% of the company’s stock.

Hedge Funds Weigh In On Shake Shack

A number of institutional investors and hedge funds have recently made changes to their positions in SHAK. Profund Advisors LLC lifted its position in Shake Shack by 4.3% in the 4th quarter. Profund Advisors LLC now owns 3,898 shares of the company’s stock valued at $281,000 after acquiring an additional 159 shares in the last quarter. Private Advisor Group LLC lifted its position in Shake Shack by 6.5% in the 4th quarter. Private Advisor Group LLC now owns 2,834 shares of the company’s stock valued at $205,000 after acquiring an additional 174 shares in the last quarter. Point72 Hong Kong Ltd lifted its position in Shake Shack by 2.8% in the 4th quarter. Point72 Hong Kong Ltd now owns 6,523 shares of the company’s stock valued at $471,000 after acquiring an additional 180 shares in the last quarter. Maryland State Retirement & Pension System lifted its position in shares of Shake Shack by 1.3% during the 4th quarter. Maryland State Retirement & Pension System now owns 15,604 shares of the company’s stock worth $1,126,000 after buying an additional 205 shares in the last quarter. Finally, Ellis Investment Partners LLC lifted its position in shares of Shake Shack by 100.0% during the 4th quarter. Ellis Investment Partners LLC now owns 460 shares of the company’s stock worth $33,000 after buying an additional 230 shares in the last quarter. Institutional investors own 81.03% of the company’s stock.

Shake Shack Stock Up 1.8 %

NYSE SHAK opened at $50.39 on Wednesday. The business has a fifty day moving average price of $44.15 and a two-hundred day moving average price of $56.73. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.07 and a quick ratio of 3.04. Shake Shack has a fifty-two week low of $37.72 and a fifty-two week high of $101.89. The stock has a market capitalization of $2.12 billion, a PE ratio of -96.90 and a beta of 1.60.

Shake Shack (NYSE:SHAK – Get Rating) last released its earnings results on Thursday, May 5th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.03. Shake Shack had a negative return on equity of 2.87% and a negative net margin of 2.55%. The firm had revenue of $203.39 million during the quarter, compared to analysts’ expectations of $200.64 million. During the same period in the prior year, the company earned $0.04 earnings per share. The company’s quarterly revenue was up 31.0% on a year-over-year basis. Equities analysts expect that Shake Shack will post -0.32 earnings per share for the current fiscal year.

About Shake Shack

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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.