Shake Shack (SHAK) Raised to Equal Weight at Morgan Stanley

Shake Shack (NYSE:SHAK) was upgraded by research analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research report issued to clients and investors on Thursday. The firm presently has a $34.00 price objective on the stock. Morgan Stanley’s target price would indicate a potential downside of 18.62% from the stock’s current price.

Other analysts have also issued reports about the company. Wedbush reissued a “buy” rating on shares of Shake Shack in a report on Thursday, August 17th. SunTrust Banks restated a “buy” rating on shares of Shake Shack in a research note on Monday, August 21st. Cowen restated a “hold” rating and issued a $35.00 target price on shares of Shake Shack in a research note on Tuesday, September 12th. BidaskClub upgraded Shake Shack from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 23rd. Finally, Barclays boosted their price objective on Shake Shack from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $38.03.

Shake Shack (SHAK) traded down $0.53 during trading hours on Thursday, reaching $41.78. The company’s stock had a trading volume of 657,500 shares, compared to its average volume of 715,686. Shake Shack has a one year low of $30.12 and a one year high of $43.04. The stock has a market capitalization of $1,554.00, a price-to-earnings ratio of 75.55, a PEG ratio of 3.66 and a beta of 1.43.

Shake Shack (NYSE:SHAK) last announced its earnings results on Wednesday, November 1st. The company reported $0.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.02. Shake Shack had a return on equity of 9.42% and a net margin of 4.78%. The business had revenue of $94.60 million for the quarter, compared to analyst estimates of $94.17 million. During the same period in the previous year, the company earned $0.15 earnings per share. The company’s revenue for the quarter was up 26.8% compared to the same quarter last year. equities research analysts expect that Shake Shack will post 0.52 EPS for the current fiscal year.

In related news, Director Jonathan D. Sokoloff sold 522,867 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $40.32, for a total value of $21,081,997.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Zach Koff sold 5,000 shares of the stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $37.00, for a total transaction of $185,000.00. Following the completion of the transaction, the chief operating officer now directly owns 8,978 shares of the company’s stock, valued at approximately $332,186. The disclosure for this sale can be found here. Insiders sold 748,566 shares of company stock valued at $29,047,300 over the last quarter. 34.91% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of SHAK. State of Alaska Department of Revenue grew its stake in shares of Shake Shack by 85.2% during 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 last quarter. Teachers Retirement System of The State of Kentucky bought a new position in Shake Shack in the first quarter valued at approximately $137,000. US Bancorp DE boosted its stake in 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 acquiring an additional 1,046 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Shake Shack by 17.7% during the second quarter. Victory Capital Management Inc. now owns 4,371 shares of the company’s stock worth $152,000 after purchasing an additional 656 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan boosted its position in shares of Shake Shack by 6.8% during the second quarter. Municipal Employees Retirement System of Michigan now owns 4,380 shares of the company’s stock worth $153,000 after purchasing an additional 280 shares in the last quarter. 83.51% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Shake Shack (NYSE:SHAK)

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