Shake Shack (NYSE:SHAK) Upgraded by Royal Bank Of Canada to Moderate Buy Rating

Royal Bank Of Canada upgraded shares of Shake Shack (NYSE:SHAK) to a moderate buy rating in a report released on Tuesday morning,Zacks reports.

Several other brokerages also recently issued reports on SHAK. Deutsche Bank Aktiengesellschaft decreased their target price on Shake Shack from $105.00 to $93.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Piper Sandler cut their price objective on shares of Shake Shack from $79.00 to $66.00 and set a “neutral” rating for the company in a report on Tuesday, July 14th. Raymond James Financial cut shares of Shake Shack from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the company from $125.00 to $85.00 in a research report on Wednesday, June 3rd. Oppenheimer set a $82.00 target price on shares of Shake Shack and gave the stock an “outperform” rating in a report on Tuesday, June 2nd. Finally, Gordon Haskett dropped their target price on shares of Shake Shack from $90.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, June 3rd. Sixteen investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $89.71.

Shake Shack Trading Down 2.9%

Shares of Shake Shack stock opened at $67.41 on Tuesday. Shake Shack has a fifty-two week low of $51.60 and a fifty-two week high of $107.46. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.64 and a current ratio of 1.67. The company has a market capitalization of $2.89 billion, a P/E ratio of 71.71, a P/E/G ratio of 7.59 and a beta of 1.66. The company has a fifty day moving average of $65.31 and a 200 day moving average of $74.61.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.31 by $0.12. The business had revenue of $417.62 million for the quarter, compared to the consensus estimate of $417.18 million. Shake Shack had a return on equity of 9.29% and a net margin of 2.56%.The business’s revenue was up 17.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.44 earnings per share. On average, sell-side analysts anticipate that Shake Shack will post 1.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Shake Shack

Several institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Shake Shack by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,627 shares of the company’s stock worth $1,995,000 after acquiring an additional 976 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Shake Shack by 4,210.3% in the first quarter. Jones Financial Companies Lllp now owns 2,500 shares of the company’s stock valued at $220,000 after purchasing an additional 2,442 shares in the last quarter. United Services Automobile Association bought a new stake in Shake Shack in the first quarter worth $219,000. Geneos Wealth Management Inc. bought a new stake in Shake Shack in the first quarter worth $26,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Shake Shack by 159.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 748 shares of the company’s stock valued at $105,000 after purchasing an additional 460 shares in the last quarter. Hedge funds and other institutional investors own 86.07% of the company’s stock.

About Shake Shack

Shake Shack, Inc (NYSE: SHAK) is a publicly traded hospitality company known for its modern take on the classic American roadside burger stand. The company operates a chain of quick-casual restaurants offering premium hamburgers, hot dogs, crinkle-cut fries, frozen custard, milkshakes and a curated selection of beer and wine. Shake Shack emphasizes high-quality ingredients, including 100% all-natural Angus beef with no hormones or antibiotics, and works with local suppliers where possible to maintain its commitment to fresh, responsibly sourced food.

Shake Shack traces its origins to a hot dog cart opened in New York City’s Madison Square Park in 2001 by Danny Meyer’s Union Square Hospitality Group.