Shake Shack, Inc. (SHAK) Receives “Buy” Rating from SunTrust Banks, Inc.
SHAK has been the subject of several other research reports. Wedbush restated a buy rating on shares of Shake Shack in a research note on Thursday, August 17th. TheStreet upgraded Shake Shack from a d rating to a c- rating in a research note on Thursday, August 3rd. Cowen and Company boosted their target price on Shake Shack from $35.00 to $36.00 and gave the stock a market perform rating in a research note on Thursday. Zacks Investment Research cut Shake Shack from a hold rating to a sell rating in a research note on Wednesday, July 19th. Finally, BidaskClub upgraded Shake Shack from a strong sell rating to a sell rating in a research note on Saturday, September 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $37.61.
Shares of Shake Shack (NYSE:SHAK) traded down $0.17 on Friday, reaching $36.98. The company had a trading volume of 874,351 shares, compared to its average volume of 678,145. The stock has a market cap of $1,317.93, a PE ratio of 64.11, a P/E/G ratio of 3.10 and a beta of 1.39.
Shake Shack (NYSE:SHAK) last announced its quarterly earnings data on Wednesday, November 1st. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.02. The business had revenue of $94.60 million during the quarter, compared to analysts’ expectations of $94.17 million. Shake Shack had a return on equity of 9.65% and a net margin of 4.78%. The business’s quarterly revenue was up 26.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.15 EPS. equities analysts forecast that Shake Shack will post 0.52 earnings per share for the current fiscal year.
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In other news, Director Jeffrey Flug sold 4,800 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $30.96, for a total value of $148,608.00. Following the transaction, the director now owns 4,415 shares of the company’s stock, valued at $136,688.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Randall J. Garutti sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 25th. The shares were sold at an average price of $35.62, for a total value of $284,960.00. Following the completion of the transaction, the chief executive officer now directly owns 18,961 shares in the company, valued at approximately $675,390.82. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 142,452 shares of company stock worth $4,507,321. 34.91% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue increased its holdings in shares of Shake Shack by 85.2% in the second quarter. State of Alaska Department of Revenue now owns 3,630 shares of the company’s stock valued at $126,000 after purchasing an additional 1,670 shares during the period. Municipal Employees Retirement System of Michigan acquired a new position in shares of Shake Shack in the first quarter valued at approximately $137,000. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Shake Shack in the first quarter valued at approximately $137,000. US Bancorp DE increased its holdings in shares of Shake Shack by 34.1% in the second quarter. US Bancorp DE now owns 4,111 shares of the company’s stock valued at $143,000 after purchasing an additional 1,046 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in shares of Shake Shack by 17.7% in the second quarter. Victory Capital Management Inc. now owns 4,371 shares of the company’s stock valued at $152,000 after purchasing an additional 656 shares during the period. 83.92% of the stock is currently owned by institutional investors and hedge funds.
Shake Shack Company Profile
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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