Shake Shack (SHAK) Given New $42.00 Price Target at Cowen

Shake Shack (NYSE:SHAK) had its target price raised by Cowen from $36.00 to $42.00 in a research report released on Tuesday. The firm currently has a market perform rating on the stock.

A number of other research firms have also recently issued reports on SHAK. Morgan Stanley upgraded shares of Shake Shack from an underweight rating to an equal weight rating and decreased their price target for the company from $43.04 to $34.00 in a report on Thursday, December 7th. BidaskClub upgraded shares of Shake Shack from a buy rating to a strong-buy rating in a report on Tuesday, November 14th. Barclays upped their price target on shares of Shake Shack from $34.00 to $36.00 and gave the company an equal weight rating in a report on Thursday, November 2nd. Wedbush restated a hold rating and set a $36.00 price target on shares of Shake Shack in a report on Thursday, November 2nd. Finally, SunTrust Banks restated a buy rating and set a $50.00 price target on shares of Shake Shack in a report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $37.93.

Shares of Shake Shack (NYSE:SHAK) opened at $46.03 on Tuesday. Shake Shack has a fifty-two week low of $30.12 and a fifty-two week high of $46.90. The stock has a market cap of $1,671.90, a price-to-earnings ratio of 81.29, a P/E/G ratio of 3.93 and a beta of 1.43.

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

In related news, major shareholder Equity Group L.P. Select sold 95,564 shares of the stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $45.43, for a total value of $4,341,472.52. 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. In the last quarter, insiders sold 795,461 shares of company stock valued at $31,933,449. 34.91% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. US Bancorp DE increased its holdings in shares of Shake Shack by 34.1% during the second quarter. US Bancorp DE now owns 4,111 shares of the company’s stock worth $143,000 after buying an additional 1,046 shares in the last quarter. Victory Capital Management Inc. grew its stake 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 valued at $152,000 after purchasing an additional 656 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its stake 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 valued at $153,000 after purchasing an additional 280 shares during the last quarter. Pacad Investment Ltd. grew its stake in shares of Shake Shack by 1,225.0% during the second quarter. Pacad Investment Ltd. now owns 5,300 shares of the company’s stock valued at $185,000 after purchasing an additional 4,900 shares during the last quarter. Finally, Cipher Capital LP bought a new stake in shares of Shake Shack during the third quarter valued at approximately $211,000. 83.16% of the stock is owned by hedge funds and other 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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