Shake Shack (NYSE:SHAK) Price Target Raised to $79.00

Shake Shack (NYSE:SHAK) had its price objective upped by equities research analysts at Morgan Stanley from $74.00 to $79.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 13.16% from the stock’s previous close.

Several other brokerages also recently issued reports on SHAK. Weiss Ratings raised Shake Shack from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, September 9th. Piper Sandler decreased their target price on Shake Shack from $79.00 to $66.00 and set a “neutral” rating for the company in a research note on Tuesday, July 14th. Wall Street Zen raised Shake Shack from a “sell” rating to a “hold” rating in a report on Saturday, September 12th. Mizuho set a $90.00 target price on Shake Shack in a report on Thursday, August 6th. Finally, Zacks Research raised Shake Shack from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 5th. Sixteen analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, Shake Shack currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.00.

Shake Shack Stock Performance

Shares of NYSE SHAK traded up $1.04 during trading hours on Thursday, hitting $69.81. 700,548 shares of the stock were exchanged, compared to its average volume of 1,753,373. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.67 and a quick ratio of 1.64. The company’s 50 day moving average is $66.22 and its 200 day moving average is $69.02. The firm has a market capitalization of $2.99 billion, a P/E ratio of 74.27, a P/E/G ratio of 7.78 and a beta of 1.68. Shake Shack has a one year low of $51.60 and a one year high of $107.46.

Shake Shack (NYSE:SHAK) last announced its earnings results on Wednesday, August 5th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.31 by $0.12. The firm had revenue of $417.62 million for the quarter, compared to the consensus estimate of $417.18 million. Shake Shack had a net margin of 2.56% and a return on equity of 9.29%. The business’s quarterly revenue was up 17.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.44 EPS. On average, research analysts expect that Shake Shack will post 1.13 EPS for the current year.

Institutional Trading of Shake Shack

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Hilton Head Capital Partners LLC increased its holdings in shares of Shake Shack by 65.0% during the 1st quarter. Hilton Head Capital Partners LLC now owns 513 shares of the company’s stock worth $45,000 after purchasing an additional 202 shares during the period. Murphy & Mullick Capital Management Corp raised its position in shares of Shake Shack by 42.5% during the first quarter. Murphy & Mullick Capital Management Corp now owns 738 shares of the company’s stock valued at $65,000 after buying an additional 220 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Shake Shack in the second quarter valued at about $47,000. IFP Advisors Inc lifted its stake in shares of Shake Shack by 43.0% in the second quarter. IFP Advisors Inc now owns 924 shares of the company’s stock valued at $52,000 after buying an additional 278 shares during the period. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych bought a new stake in shares of Shake Shack in the first quarter valued at about $88,000. 86.07% of the stock is currently owned by institutional investors and hedge funds.

About Shake Shack

Shake Shack Inc operates a fast-casual restaurant brand known for made-to-order burgers, chicken sandwiches, hot dogs, crinkle-cut fries, frozen custard, milkshakes, and beverages including beer and wine at select locations. Its menu emphasizes premium ingredients and includes vegetarian and other non-meat options.

The company began as a seasonal hot dog cart in Madison Square Park in New York City in 2001 and opened its first permanent restaurant there in 2004. Shake Shack has since expanded through a combination of company-operated and licensed restaurants, with locations across the United States and in international markets, including parts of Asia, Europe and the Middle East.

Shake Shack also offers digital ordering, delivery, catering and merchandise.