Shake Shack (NYSE:SHAK) Stock Rating Upgraded by Northcoast Research

Shake Shack (NYSE:SHAK) was upgraded by Northcoast Research from a “neutral” rating to a “buy” rating in a research note issued on Friday, FlyOnTheWall reports.

SHAK has been the topic of several other reports. Loop Capital increased their price target on shares of Shake Shack from $60.00 to $71.00 in a research note on Friday, August 4th. Truist Financial raised their target price on shares of Shake Shack from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. JPMorgan Chase & Co. raised their target price on shares of Shake Shack from $66.00 to $71.00 in a research report on Monday, August 7th. TD Cowen raised their target price on Shake Shack from $75.00 to $78.00 and gave the company a “market perform” rating in a report on Friday, August 4th. Finally, Robert W. Baird raised their target price on Shake Shack from $74.00 to $78.00 and gave the company a “neutral” rating in a report on Friday, August 4th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $72.93.

Shake Shack Stock Up 1.3 %

Shares of SHAK opened at $62.06 on Friday. The company’s 50-day simple moving average is $73.29 and its 200-day simple moving average is $66.24. The stock has a market capitalization of $2.63 billion, a PE ratio of -310.28 and a beta of 1.72. Shake Shack has a 1 year low of $40.83 and a 1 year high of $80.58. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.16 and a current ratio of 2.19.

Shake Shack (NYSE:SHAK) last issued its earnings results on Thursday, August 3rd. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.09. The firm had revenue of $271.80 million for the quarter, compared to analysts’ expectations of $274.55 million. Shake Shack had a negative net margin of 0.74% and a positive return on equity of 0.64%. The business’s revenue for the quarter was up 17.8% on a year-over-year basis. Analysts forecast that Shake Shack will post 0.25 earnings per share for the current fiscal year.

Insider Transactions at Shake Shack

In related news, Director Jeffrey Flug sold 1,987 shares of Shake Shack stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $69.86, for a total transaction of $138,811.82. Following the completion of the sale, the director now owns 6,511 shares in the company, valued at approximately $454,858.46. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Jeffrey Flug sold 1,987 shares of Shake Shack stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $69.86, for a total transaction of $138,811.82. Following the completion of the sale, the director now owns 6,511 shares in the company, valued at approximately $454,858.46. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Zach Koff sold 5,000 shares of Shake Shack stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $75.00, for a total value of $375,000.00. Following the sale, the chief operating officer now owns 38,682 shares of the company’s stock, valued at approximately $2,901,150. The disclosure for this sale can be found here. Corporate insiders own 10.06% of the company’s stock.

Institutional Trading of Shake Shack

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SHAK. Virginia Retirement Systems ET AL purchased a new stake in Shake Shack in the 2nd quarter valued at about $396,000. Comerica Bank purchased a new stake in Shake Shack in the 2nd quarter valued at about $26,000. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Shake Shack by 5.5% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 12,528 shares of the company’s stock worth $973,000 after purchasing an additional 655 shares during the period. Legato Capital Management LLC grew its holdings in shares of Shake Shack by 88.9% during the 2nd quarter. Legato Capital Management LLC now owns 17,314 shares of the company’s stock worth $1,346,000 after purchasing an additional 8,150 shares during the period. Finally, GTS Securities LLC purchased a new stake in shares of Shake Shack during the 2nd quarter worth about $2,027,000. Hedge funds and other institutional investors own 91.70% of the company’s stock.

About Shake Shack

Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, chicken, hot dogs, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. The company was founded in 2001 and is headquartered in New York, New York.