Shake Shack, Inc. (SHAK) PT Raised to $36.00 at Cowen and Company
Shake Shack, Inc. (NYSE:SHAK) had its target price raised by equities researchers at Cowen and Company from $35.00 to $36.00 in a report released on Thursday. The brokerage currently has a “market perform” rating on the stock. Cowen and Company’s price target would indicate a potential downside of 2.65% from the company’s current price.
Other analysts also recently issued research reports about the stock. Wedbush reaffirmed a “hold” rating and set a $36.00 target price on shares of Shake Shack in a report on Thursday. Barclays PLC cut their price objective on shares of Shake Shack from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Friday, August 4th. BidaskClub raised shares of Shake Shack from a “strong sell” rating to a “sell” rating in a report on Saturday, September 23rd. SunTrust Banks, Inc. reissued a “buy” rating on shares of Shake Shack in a report on Monday, August 21st. Finally, TheStreet raised shares of Shake Shack from a “d” rating to a “c-” rating in a report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Shake Shack has an average rating of “Hold” and an average price target of $37.61.
Shares of Shake Shack (NYSE SHAK) traded up $1.08 during mid-day trading on Thursday, hitting $36.98. 874,351 shares of the company traded hands, compared to its average volume of 687,470. The company has a market cap of $1,360.00 and a P/E ratio of 64.11. Shake Shack has a 1-year low of $30.12 and a 1-year high of $39.70.
Shake Shack (NYSE:SHAK) last announced its earnings results on Wednesday, November 1st. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.15 by $0.02. The business had revenue of $94.60 million during the quarter, compared to the consensus estimate of $94.17 million. Shake Shack had a net margin of 4.78% and a return on equity of 9.65%. Shake Shack’s revenue was up 26.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.15 EPS. equities research analysts forecast that Shake Shack will post 0.52 EPS for the current year.
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In other news, SVP Peggy Rubenzer sold 7,000 shares of the company’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $32.17, for a total value of $225,190.00. Following the sale, the senior vice president now directly owns 24,415 shares of the company’s stock, valued at approximately $785,430.55. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Equity Group L.P. Select sold 19,452 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $32.01, for a total transaction of $622,658.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 142,452 shares of company stock valued at $4,507,321. Corporate insiders own 34.91% of the company’s stock.
Several large investors have recently bought and sold shares of SHAK. Russell Investments Group Ltd. boosted its stake in Shake Shack by 16.6% during the first quarter. Russell Investments Group Ltd. now owns 7,429 shares of the company’s stock worth $248,000 after acquiring an additional 1,057 shares in the last quarter. Swiss National Bank boosted its stake in Shake Shack by 5.8% during the first quarter. Swiss National Bank now owns 23,700 shares of the company’s stock worth $792,000 after acquiring an additional 1,300 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Shake Shack by 985.1% during the first quarter. Ameriprise Financial Inc. now owns 103,951 shares of the company’s stock worth $3,472,000 after acquiring an additional 94,371 shares in the last quarter. Prudential Financial Inc. bought a new position in Shake Shack during the first quarter worth $1,087,000. Finally, Victory Capital Management Inc. boosted its stake in Shake Shack by 109.7% during the first quarter. Victory Capital Management Inc. now owns 3,715 shares of the company’s stock worth $124,000 after acquiring an additional 1,943 shares in the last quarter. 83.92% of the stock is currently owned by institutional investors.
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’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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