Shake Shack Inc. (SHAK) Rating Reiterated by Buckingham Research
Shake Shack Inc. (NYSE:SHAK)‘s stock had its “buy” rating restated by Buckingham Research in a research note issued to investors on Friday. They presently have a $45.00 target price on the stock. Buckingham Research’s price objective indicates a potential upside of 29.35% from the stock’s current price.
SHAK has been the topic of a number of other research reports. Vetr raised Shake Shack from a “buy” rating to a “strong-buy” rating and set a $39.64 price target on the stock in a research report on Monday, September 5th. Zacks Investment Research raised Shake Shack from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research report on Saturday, July 23rd. SunTrust Banks Inc. initiated coverage on Shake Shack in a research report on Wednesday, June 1st. They issued a “neutral” rating on the stock. Jefferies Group reaffirmed a “hold” rating and issued a $40.00 price target on shares of Shake Shack in a research report on Friday, May 27th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $38.00 price target (up previously from $35.00) on shares of Shake Shack in a research report on Thursday, August 11th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $40.56.
Shares of Shake Shack (NYSE:SHAK) opened at 34.79 on Friday. The company has a 50-day moving average price of $36.70 and a 200-day moving average price of $36.63. Shake Shack has a 12 month low of $30.00 and a 12 month high of $53.50. The stock has a market cap of $833.32 million, a price-to-earnings ratio of 85.90 and a beta of 1.15.
Shake Shack (NYSE:SHAK) last posted its earnings results on Wednesday, August 10th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.01. Shake Shack had a return on equity of 8.09% and a net margin of 3.35%. The firm had revenue of $66.50 million for the quarter, compared to analyst estimates of $63.07 million. During the same quarter in the prior year, the company earned $0.09 EPS. Shake Shack’s revenue was up 37.1% on a year-over-year basis. On average, analysts expect that Shake Shack will post $0.45 EPS for the current fiscal year.
In related news, insider Equity Group L.P. Select sold 36,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $34.26, for a total transaction of $1,233,360.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Jeffrey Flug sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $34.51, for a total value of $862,750.00. Following the transaction, the director now owns 33,240 shares in the company, valued at approximately $1,147,112.40. The disclosure for this sale can be found here. Corporate insiders own 44.69% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its position in Shake Shack by 110.3% in the second quarter. Royal Bank of Canada now owns 11,990 shares of the company’s stock worth $437,000 after buying an additional 6,289 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in Shake Shack by 220.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 30,960 shares of the company’s stock worth $1,128,000 after buying an additional 21,310 shares in the last quarter. Numeric Investors LLC increased its position in Shake Shack by 0.6% in the second quarter. Numeric Investors LLC now owns 94,268 shares of the company’s stock worth $3,434,000 after buying an additional 600 shares in the last quarter. Weiss Multi Strategy Advisers LLC purchased a new position in Shake Shack during the second quarter worth about $1,366,000. Finally, A.R.T. Advisors LLC purchased a new position in Shake Shack during the second quarter worth about $843,000. Hedge funds and other institutional investors own 93.72% of the company’s stock.
About Shake Shack
Shake Shack Inc operates roadside burger stands. The Company serves an American menu of burgers, hot dogs, crispy chicken, frozen custard, crinkle cut fries, shakes, beer and wine, among others. The Company has approximately 84 Shacks in over 10 countries and approximately 45 cities. The Company’s signature items are its all-natural, hormone and antibiotic-free burgers, hot dogs, crispy chicken, crinkle cut fries, shakes and frozen custard.
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