Brokerages Set Shake Shack, Inc. (NYSE:SHAK) Target Price at $37.64

Shake Shack, Inc. (NYSE:SHAK) has earned an average recommendation of “Hold” from the seventeen brokerages that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $37.56.

A number of equities research analysts recently commented on the company. ValuEngine upgraded Shake Shack from a “sell” rating to a “hold” rating in a research report on Friday, May 19th. Vetr lowered Shake Shack from a “strong-buy” rating to a “buy” rating and set a $42.33 price target on the stock. in a research report on Wednesday, June 7th. Piper Jaffray Companies initiated coverage on Shake Shack in a report on Wednesday, May 24th. They set an “overweight” rating and a $44.00 price objective on the stock. Wedbush raised Shake Shack from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $33.00 to $43.00 in a report on Thursday, May 18th. Finally, Barclays PLC reduced their price objective on Shake Shack from $38.00 to $35.00 and set an “equal weight” rating on the stock in a report on Monday, May 8th.

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Shake Shack (SHAK) traded down 0.49% on Friday, reaching $32.44. The company had a trading volume of 387,368 shares. Shake Shack has a one year low of $30.36 and a one year high of $42.94. The stock has a market cap of $835.56 million, a price-to-earnings ratio of 60.30 and a beta of 1.29. The company has a 50-day moving average of $35.03 and a 200 day moving average of $34.96.

Shake Shack (NYSE:SHAK) last released its quarterly earnings results on Thursday, August 3rd. The company reported $0.20 EPS for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.04. The business had revenue of $91.30 million for the quarter, compared to analyst estimates of $89 million. Shake Shack had a return on equity of 8.71% and a net margin of 4.70%. Shake Shack’s revenue for the quarter was up 37.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.14 EPS. On average, equities research analysts predict that Shake Shack will post $0.52 EPS for the current year.

In other news, major shareholder Equity Group L.P. Select sold 19,452 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $32.01, for a total value of $622,658.52. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jeffrey Flug sold 51,000 shares of the stock in a transaction on Friday, May 12th. The shares were sold at an average price of $36.59, for a total value of $1,866,090.00. Following the completion of the transaction, the director now directly owns 3,240 shares in the company, valued at approximately $118,551.60. The disclosure for this sale can be found here. In the last three months, insiders sold 244,744 shares of company stock worth $8,958,396. 34.91% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. FNY Partners Fund LP acquired a new stake in shares of Shake Shack during the first quarter valued at approximately $100,000. BNP Paribas Arbitrage SA increased its stake in shares of Shake Shack by 206.3% in the first quarter. BNP Paribas Arbitrage SA now owns 3,666 shares of the company’s stock valued at $122,000 after buying an additional 2,469 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Shake Shack by 109.7% in the first quarter. Victory Capital Management Inc. now owns 3,715 shares of the company’s stock valued at $124,000 after buying an additional 1,943 shares during the last quarter. State of Alaska Department of Revenue increased its stake 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 buying an additional 1,670 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan acquired a new stake in shares of Shake Shack during the first quarter valued at approximately $137,000. 97.46% 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.

Analyst Recommendations for Shake Shack (NYSE:SHAK)

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