Shake Shack (NYSE:SHAK) had its price objective increased by SunTrust Banks to $70.00 in a research note published on Friday morning, The Fly reports. SunTrust Banks currently has a buy rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Shake Shack from a sell rating to a hold rating in a research note on Friday, March 29th. Longbow Research cut shares of Shake Shack from a buy rating to a neutral rating and set a $58.80 price objective on the stock. in a research note on Wednesday, April 17th. They noted that the move was a valuation call. Finally, Wedbush dropped their price objective on shares of Shake Shack from $56.00 to $54.00 and set a neutral rating on the stock in a research note on Tuesday, February 26th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $55.09.

Shares of NYSE SHAK opened at $59.33 on Friday. The company has a market cap of $2.23 billion, a PE ratio of 83.56, a PEG ratio of 4.32 and a beta of 1.44. Shake Shack has a 12 month low of $40.67 and a 12 month high of $70.12.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.13 EPS for the quarter, hitting analysts’ consensus estimates of $0.13. The business had revenue of $132.60 million for the quarter, compared to analysts’ expectations of $127.23 million. Shake Shack had a net margin of 2.88% and a return on equity of 9.81%. The business’s revenue was up 33.7% on a year-over-year basis. During the same quarter last year, the company earned $0.15 EPS. Research analysts forecast that Shake Shack will post 0.59 earnings per share for the current fiscal year.

In related news, COO Zach Koff sold 10,000 shares of Shake Shack stock in a transaction on Friday, March 1st. The shares were sold at an average price of $54.25, for a total value of $542,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Daniel Harris Meyer sold 75,000 shares of Shake Shack stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $61.55, for a total transaction of $4,616,250.00. Following the completion of the sale, the director now directly owns 1,032 shares in the company, valued at approximately $63,519.60. The disclosure for this sale can be found here. Insiders sold a total of 962,886 shares of company stock worth $54,179,276 in the last three months. 30.18% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. LS Investment Advisors LLC grew its stake in Shake Shack by 4.7% in the 1st quarter. LS Investment Advisors LLC now owns 4,372 shares of the company’s stock valued at $259,000 after acquiring an additional 196 shares during the period. Piedmont Investment Advisors Inc. grew its stake in Shake Shack by 4.0% in the 4th quarter. Piedmont Investment Advisors Inc. now owns 6,130 shares of the company’s stock valued at $278,000 after acquiring an additional 233 shares during the period. LPL Financial LLC lifted its holdings in Shake Shack by 5.2% in the 4th quarter. LPL Financial LLC now owns 5,015 shares of the company’s stock valued at $228,000 after purchasing an additional 248 shares in the last quarter. Markel Corp lifted its holdings in Shake Shack by 0.8% in the 4th quarter. Markel Corp now owns 31,350 shares of the company’s stock valued at $1,424,000 after purchasing an additional 250 shares in the last quarter. Finally, Sapphire Star Partners LP lifted its holdings in Shake Shack by 2.8% in the 4th quarter. Sapphire Star Partners LP now owns 9,212 shares of the company’s stock valued at $419,000 after purchasing an additional 253 shares in the last quarter. 82.88% of the stock is currently owned by hedge funds and other institutional investors.

About Shake Shack

Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, hot dogs, chicken, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. As of December 26, 2018, it operated 208 Shacks, including 124 domestic company-operated Shacks, 12 domestic licensed Shacks, and 72 international licensed Shacks.

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Analyst Recommendations for Shake Shack (NYSE:SHAK)

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