Shake Shack (NYSE:SHAK) Reaches New 52-Week High After Analyst Upgrade

Shake Shack Inc. (NYSE:SHAK) reached a new 52-week high during mid-day trading on Monday after BTIG Research raised their price target on the stock from $120.00 to $125.00. BTIG Research currently has a buy rating on the stock. Shake Shack traded as high as $111.29 and last traded at $109.09, with a volume of 388089 shares. The stock had previously closed at $107.47.

Other equities research analysts also recently issued research reports about the stock. Wedbush increased their price objective on shares of Shake Shack from $100.00 to $110.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. UBS Group increased their target price on Shake Shack from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Raymond James boosted 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. Robert W. Baird increased their price objective on shares of Shake Shack from $102.00 to $105.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Finally, Truist Financial raised their target price on shares of Shake Shack from $115.00 to $124.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Shake Shack currently has a consensus rating of “Hold” and a consensus target price of $98.24.

Insiders Place Their Bets

In other news, Director Daniel Harris Meyer sold 23,966 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now directly owns 526,471 shares of the company’s stock, valued at $52,715,541.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Shake Shack news, Director Jeffrey Flug sold 304 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $103.01, for a total transaction of $31,315.04. Following the sale, the director now directly owns 3,754 shares in the company, valued at $386,699.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel Harris Meyer sold 23,966 shares of the firm’s 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 transaction, the director now directly owns 526,471 shares in the company, valued at $52,715,541.23. The disclosure for this sale can be found here. Insiders have sold 100,608 shares of company stock worth $10,178,861 in the last 90 days. Company insiders own 10.06% of the company’s stock.

Institutional Trading of Shake Shack

Several large investors have recently made changes to their positions in the company. 12 West Capital Management LP lifted its stake in Shake Shack by 82.2% during the third quarter. 12 West Capital Management LP now owns 1,659,600 shares of the company’s stock worth $96,373,000 after purchasing an additional 748,789 shares during the last quarter. Van Berkom & Associates Inc. lifted its position in shares of Shake Shack by 19.3% during the 3rd quarter. Van Berkom & Associates Inc. now owns 1,046,339 shares of the company’s stock worth $60,761,000 after buying an additional 168,947 shares during the last quarter. Linonia Partnership LP acquired a new stake in Shake Shack in the fourth quarter valued at about $41,046,000. Qube Research & Technologies Ltd grew its position in Shake Shack by 130.0% in the third quarter. Qube Research & Technologies Ltd now owns 436,888 shares of the company’s stock valued at $25,370,000 after acquiring an additional 246,952 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Shake Shack by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 309,641 shares of the company’s stock worth $22,951,000 after acquiring an additional 12,362 shares in the last quarter. Institutional investors and hedge funds own 86.07% of the company’s stock.

Shake Shack Price Performance

The business’s fifty day moving average price is $102.51 and its 200 day moving average price is $81.47. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.03 and a quick ratio of 1.99. The stock has a market cap of $4.45 billion, a P/E ratio of 191.06, a PEG ratio of 3.79 and a beta of 1.78.

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

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.