Shake Shack (NYSE:SHAK) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of Shake Shack (NYSE:SHAK) from a strong sell rating to a hold rating in a research report released on Monday morning,Zacks.com reports.

SHAK has been the topic of several other research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Shake Shack in a research report on Wednesday, January 21st. Loop Capital upgraded Shake Shack from a “hold” rating to a “buy” rating and boosted their price target for the company from $98.00 to $127.00 in a research note on Friday, November 14th. Wolfe Research assumed coverage on Shake Shack in a report on Monday. They issued an “outperform” rating and a $118.00 price objective on the stock. Deutsche Bank Aktiengesellschaft upgraded Shake Shack from a “hold” rating to a “buy” rating and set a $105.00 price objective on the stock in a research report on Tuesday, January 6th. Finally, DA Davidson began coverage on Shake Shack in a report on Friday, March 6th. They set a “buy” rating and a $125.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Shake Shack currently has a consensus rating of “Hold” and an average target price of $116.64.

Shake Shack Price Performance

Shares of SHAK opened at $95.59 on Monday. The firm has a market capitalization of $4.08 billion, a PE ratio of 87.70, a PEG ratio of 5.11 and a beta of 1.73. The company’s 50-day moving average is $92.89 and its 200-day moving average is $92.18. Shake Shack has a fifty-two week low of $72.93 and a fifty-two week high of $144.65. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 1.73.

Shake Shack (NYSE:SHAK) last announced its earnings results on Thursday, February 26th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.35 by $0.02. Shake Shack had a net margin of 3.16% and a return on equity of 11.08%. The business had revenue of $400.53 million during the quarter, compared to the consensus estimate of $402.06 million. During the same quarter in the previous year, the firm posted $0.26 EPS. Shake Shack’s revenue was up 21.8% compared to the same quarter last year. Equities analysts forecast that Shake Shack will post 1.26 EPS for the current year.

Hedge Funds Weigh In On Shake Shack

A number of hedge funds have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. acquired a new position in Shake Shack in the 1st quarter valued at $26,000. Hilton Head Capital Partners LLC acquired a new stake in shares of Shake Shack during the 4th quarter worth $25,000. Global Retirement Partners LLC increased its position in shares of Shake Shack by 83.7% in the third quarter. Global Retirement Partners LLC now owns 327 shares of the company’s stock worth $31,000 after purchasing an additional 149 shares during the period. Assetmark Inc. increased its position in shares of Shake Shack by 457.6% in the fourth quarter. Assetmark Inc. now owns 368 shares of the company’s stock worth $30,000 after purchasing an additional 302 shares during the period. Finally, UMB Bank n.a. raised its stake in Shake Shack by 42.2% in the fourth quarter. UMB Bank n.a. now owns 391 shares of the company’s stock valued at $32,000 after purchasing an additional 116 shares in the last quarter. Institutional investors own 86.07% of the company’s stock.

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.