Shake Shack (NYSE:SHAK) Shares Gap Down to $48.08

Shake Shack Inc. (NYSE:SHAKGet Rating)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $48.08, but opened at $47.00. Shake Shack shares last traded at $46.49, with a volume of 2,389 shares.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SHAK shares. Wedbush cut Shake Shack from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $58.00 to $49.00 in a research note on Wednesday, December 21st. StockNews.com initiated coverage on Shake Shack in a research note on Wednesday, October 12th. They issued a “sell” rating for the company. Barclays reduced their price target on Shake Shack from $46.00 to $42.00 and set an “equal weight” rating for the company in a research report on Thursday, January 5th. Credit Suisse Group reduced their price target on Shake Shack from $61.00 to $57.00 and set a “neutral” rating for the company in a research report on Monday, November 7th. Finally, Morgan Stanley reduced their price target on Shake Shack from $52.00 to $50.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 11th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $60.07.

Shake Shack Stock Performance

The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 2.51. The firm has a fifty day simple moving average of $47.80 and a 200 day simple moving average of $47.94. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of -91.05 and a beta of 1.58.

Shake Shack (NYSE:SHAKGet Rating) last issued its quarterly earnings results on Thursday, November 3rd. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.06). The firm had revenue of $227.81 million for the quarter, compared to analyst estimates of $226.79 million. Shake Shack had a negative return on equity of 3.52% and a negative net margin of 2.67%. On average, analysts anticipate that Shake Shack Inc. will post -0.42 earnings per share for the current fiscal year.

Insider Transactions at Shake Shack

In other news, COO Zach Koff sold 3,900 shares of Shake Shack stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $55.00, for a total value of $214,500.00. Following the sale, the chief operating officer now directly owns 31,085 shares of the company’s stock, valued at $1,709,675. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate 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 added to or reduced their stakes in SHAK. Interval Partners LP acquired a new position in Shake Shack during the third quarter worth $19,656,000. Van Berkom & Associates Inc. boosted its stake in Shake Shack by 43.7% during the second quarter. Van Berkom & Associates Inc. now owns 1,047,116 shares of the company’s stock worth $41,340,000 after buying an additional 318,266 shares during the last quarter. Balyasny Asset Management LLC boosted its stake in Shake Shack by 61.8% during the third quarter. Balyasny Asset Management LLC now owns 821,070 shares of the company’s stock worth $36,932,000 after buying an additional 313,623 shares during the last quarter. Vanguard Group Inc. boosted its stake in Shake Shack by 5.2% during the third quarter. Vanguard Group Inc. now owns 4,044,682 shares of the company’s stock worth $181,929,000 after buying an additional 200,222 shares during the last quarter. Finally, Millennium Management LLC raised its position in Shake Shack by 2,372.2% in the second quarter. Millennium Management LLC now owns 176,739 shares of the company’s stock valued at $6,978,000 after purchasing an additional 169,590 shares during the period. Institutional investors and hedge funds own 83.55% of the company’s stock.

About Shake Shack

(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.

See Also

Receive News & Ratings for Shake Shack Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shake Shack and related companies with MarketBeat.com's FREE daily email newsletter.