Wedbush Raises Shake Shack (NYSE:SHAK) Price Target to $110.00

Shake Shack (NYSE:SHAK) had its target price raised by Wedbush from $100.00 to $110.00 in a research report report published on Friday, Benzinga reports. Wedbush currently has a neutral rating on the stock.

SHAK has been the topic of several other reports. Oppenheimer raised their target price on Shake Shack from $108.00 to $120.00 and gave the company an outperform rating in a report on Friday, March 22nd. JPMorgan Chase & Co. boosted their price target on Shake Shack from $65.00 to $100.00 and gave the company an underweight rating in a report on Monday, March 4th. StockNews.com lowered shares of Shake Shack from a hold rating to a sell rating in a research note on Monday, March 4th. Morgan Stanley increased their price objective on shares of Shake Shack from $88.00 to $105.00 and gave the stock an equal weight rating in a research note on Friday, April 12th. Finally, Raymond James raised their target price on Shake Shack from $90.00 to $115.00 and gave the company a strong-buy rating in a research note on Friday, February 16th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $98.24.

Shake Shack Stock Down 1.7 %

SHAK stock opened at $105.59 on Friday. The company has a market cap of $4.47 billion, a price-to-earnings ratio of 191.99, a price-to-earnings-growth ratio of 3.79 and a beta of 1.78. The company has a fifty day moving average price of $102.46 and a 200 day moving average price of $81.12. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.03 and a quick ratio of 1.99. Shake Shack has a 12 month low of $52.79 and a 12 month high of $111.29.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.03. Shake Shack had a return on equity of 4.86% and a net margin of 2.08%. The business had revenue of $290.50 million for the quarter, compared to the consensus estimate of $291.00 million. During the same period in the prior year, the business earned ($0.01) earnings per share. The business’s revenue was up 14.7% on a year-over-year basis. Sell-side analysts expect that Shake Shack will post 0.72 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Daniel Harris Meyer sold 23,966 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $100.13, for a total transaction of $2,399,715.58. Following the completion of the sale, the director now owns 526,471 shares in the company, valued at approximately $52,715,541.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Daniel Harris Meyer sold 23,966 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $100.13, for a total transaction of $2,399,715.58. Following the sale, the director now owns 526,471 shares in the company, valued at $52,715,541.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey Flug sold 304 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $108.05, for a total transaction of $32,847.20. Following the transaction, the director now owns 4,058 shares in the company, valued at approximately $438,466.90. The disclosure for this sale can be found here. Insiders sold 100,608 shares of company stock worth $10,178,861 over the last three months. 10.06% of the stock is currently owned by corporate insiders.

Institutional Trading of Shake Shack

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its position in shares of Shake Shack by 43.6% in the 1st quarter. SG Americas Securities LLC now owns 3,389 shares of the company’s stock worth $353,000 after purchasing an additional 1,029 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Shake Shack during the 1st quarter worth about $344,000. Texas Permanent School Fund Corp raised its position in shares of Shake Shack by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 32,815 shares of the company’s stock valued at $3,414,000 after acquiring an additional 439 shares during the period. GSA Capital Partners LLP acquired a new stake in Shake Shack in the first quarter worth $675,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Shake Shack in the 1st quarter valued at $97,000. 86.07% of the stock is currently owned by institutional investors and hedge funds.

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.