Brokerages Set Shake Shack, Inc. (NYSE:SHAK) Price Target at $116.64

Shake Shack, Inc. (NYSE:SHAK) has been assigned an average rating of “Hold” from the twenty-six ratings firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, fourteen have issued a hold recommendation, ten have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $116.6364.

A number of research analysts recently commented on SHAK shares. Raymond James Financial set a $140.00 target price on shares of Shake Shack in a research report on Wednesday, January 21st. Wells Fargo & Company upped their price objective on shares of Shake Shack from $90.00 to $100.00 and gave the company an “equal weight” rating in a research note on Friday, February 27th. Robert W. Baird raised their price objective on Shake Shack from $104.00 to $108.00 and gave the stock a “neutral” rating in a report on Friday, February 27th. Truist Financial lifted their target price on Shake Shack from $144.00 to $148.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Finally, JPMorgan Chase & Co. raised Shake Shack from an “underweight” rating to a “neutral” rating and reduced their target price for the company from $95.00 to $90.00 in a report on Thursday, December 18th.

Institutional Investors Weigh In On Shake Shack

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SHAK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Shake Shack by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,627 shares of the company’s stock worth $1,995,000 after buying an additional 976 shares during the period. Jones Financial Companies Lllp lifted its position in Shake Shack by 4,210.3% during the 1st quarter. Jones Financial Companies Lllp now owns 2,500 shares of the company’s stock worth $220,000 after acquiring an additional 2,442 shares during the period. United Services Automobile Association purchased a new position in shares of Shake Shack in the 1st quarter valued at approximately $219,000. Geneos Wealth Management Inc. purchased a new position in shares of Shake Shack in the 1st quarter valued at approximately $26,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Shake Shack by 8.6% in the second quarter. PNC Financial Services Group Inc. now owns 5,335 shares of the company’s stock valued at $750,000 after purchasing an additional 422 shares during the period. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Shake Shack Stock Down 0.7%

Shake Shack stock opened at $87.55 on Friday. The stock has a market cap of $3.74 billion, a PE ratio of 80.32, a P/E/G ratio of 4.72 and a beta of 1.73. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 1.73. The stock’s fifty day moving average is $93.19 and its two-hundred day moving average is $91.23. Shake Shack has a 1-year low of $72.93 and a 1-year high of $144.65.

Shake Shack (NYSE:SHAK) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. Shake Shack had a return on equity of 11.08% and a net margin of 3.16%.The business had revenue of $400.53 million for the quarter, compared to the consensus estimate of $402.06 million. During the same quarter in the prior year, the business posted $0.26 EPS. The business’s revenue for the quarter was up 21.8% on a year-over-year basis. On average, sell-side analysts expect that Shake Shack will post 1.26 EPS for the current fiscal year.

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.