Shake Shack (NYSE:SHAK) Price Target Raised to $70.00

Shake Shack (NYSE:SHAK) had its price objective upped by Wells Fargo & Company from $65.00 to $70.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other research firms have also recently commented on SHAK. DA Davidson boosted their target price on Shake Shack from $70.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Guggenheim restated a “buy” rating and issued a $90.00 target price on shares of Shake Shack in a research note on Thursday, October 15th. Robert W. Baird upgraded Shake Shack to a “hold” rating in a research note on Monday, August 24th. BNP Paribas Exane raised their price target on Shake Shack from $77.00 to $81.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Shake Shack from $105.00 to $93.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Sixteen equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $87.43.

Shake Shack Stock Down 4.1%

Shares of NYSE:SHAK opened at $65.11 on Wednesday. The firm has a fifty day moving average price of $65.78 and a two-hundred day moving average price of $68.25. The company has a market cap of $2.79 billion, a price-to-earnings ratio of 69.26, a PEG ratio of 7.40 and a beta of 1.68. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.67 and a quick ratio of 1.64. Shake Shack has a one year low of $51.60 and a one year high of $107.46.

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

Hedge Funds Weigh In On Shake Shack

A number of institutional investors have recently made changes to their positions in SHAK. Wedbush Securities Inc. lifted its holdings in shares of Shake Shack by 269.6% during the 3rd quarter. Wedbush Securities Inc. now owns 14,520 shares of the company’s stock worth $852,000 after acquiring an additional 10,591 shares during the last quarter. Sterling Capital Management LLC grew its position in Shake Shack by 838.8% in the third quarter. Sterling Capital Management LLC now owns 1,305 shares of the company’s stock worth $77,000 after acquiring an additional 1,166 shares in the last quarter. Root Financial Partners LLC purchased a new position in Shake Shack in the third quarter worth $31,000. IFP Advisors Inc increased its stake in Shake Shack by 35.7% in the third quarter. IFP Advisors Inc now owns 1,254 shares of the company’s stock valued at $74,000 after acquiring an additional 330 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Shake Shack by 48.7% in the third quarter. Assenagon Asset Management S.A. now owns 323,692 shares of the company’s stock valued at $18,994,000 after acquiring an additional 106,075 shares during the last quarter. Institutional investors own 86.07% of the company’s stock.

Shake Shack Company Profile

Shake Shack Inc operates a fast-casual restaurant chain known for made-to-order burgers, chicken sandwiches, hot dogs, crinkle-cut fries, frozen custard, milkshakes and beverages. Its menu also includes vegetarian and other specialty items, with offerings varying by location. The company emphasizes hospitality, quality ingredients and restaurant designs intended to support both dine-in and takeout service.

The business began as a temporary hot dog cart in Madison Square Park in New York City in 2001 and opened its first permanent restaurant there in 2004.