Shake Shack (NYSE:SHAK) Given New $60.00 Price Target at Stifel Nicolaus

Shake Shack (NYSE:SHAK) had its target price reduced by Stifel Nicolaus from $62.00 to $60.00 in a research report report published on Tuesday, Benzinga reports. They currently have a hold rating on the stock.

Other analysts have also issued reports about the company. Northcoast Research raised Shake Shack from a neutral rating to a buy rating and set a $85.00 price target on the stock in a research note on Friday, September 15th. TD Cowen boosted their target price on shares of Shake Shack from $75.00 to $78.00 and gave the company a market perform rating in a report on Friday, August 4th. Loop Capital upped their price target on shares of Shake Shack from $60.00 to $71.00 in a research report on Friday, August 4th. Truist Financial lifted their price target on shares of Shake Shack from $90.00 to $95.00 and gave the company a buy rating in a report on Friday, August 4th. Finally, Raymond James dropped their price objective on Shake Shack from $87.00 to $78.00 and set an outperform rating for the company in a report on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and an average price target of $71.65.

Shake Shack Price Performance

SHAK stock opened at $60.49 on Tuesday. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of 1,512.63 and a beta of 1.73. The company has a quick ratio of 2.09, a current ratio of 2.12 and a debt-to-equity ratio of 0.56. Shake Shack has a 52-week low of $40.83 and a 52-week high of $80.58. The stock’s fifty day simple moving average is $57.75 and its 200-day simple moving average is $66.81.

Insider Buying and Selling at Shake Shack

In other news, Director Jeffrey Flug sold 1,987 shares of the business’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $69.86, for a total transaction of $138,811.82. Following the transaction, the director now directly owns 6,511 shares of the company’s stock, valued at $454,858.46. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 10.06% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Shake Shack

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SHAK. Public Employees Retirement System of Ohio acquired a new stake in shares of Shake Shack during the third quarter valued at about $1,700,000. Ramirez Asset Management Inc. acquired a new stake in Shake Shack during the 3rd quarter valued at approximately $35,000. The Manufacturers Life Insurance Company increased its holdings in Shake Shack by 26.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 19,303 shares of the company’s stock worth $1,121,000 after purchasing an additional 4,021 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in Shake Shack during the 3rd quarter worth approximately $1,555,000. Finally, Lido Advisors LLC acquired a new position in shares of Shake Shack in the 3rd quarter valued at approximately $312,000. Hedge funds and other institutional investors own 91.70% of the company’s stock.

Shake Shack Company Profile

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.