Shake Shack (NYSE:SHAK) was downgraded by investment analysts at TheStreet from a “c” rating to a “d+” rating in a report released on Friday.
A number of other research firms have also recently commented on SHAK. Morgan Stanley raised shares of Shake Shack from an “underweight” rating to an “equal weight” rating and lowered their price target for the stock from $43.04 to $34.00 in a report on Thursday, December 7th. Barclays reaffirmed an “equal weight” rating and issued a $49.00 price target (up previously from $36.00) on shares of Shake Shack in a report on Tuesday, January 16th. Cowen lifted their price target on shares of Shake Shack from $36.00 to $42.00 and gave the stock a “market perform” rating in a report on Tuesday, December 19th. Jefferies Group cut shares of Shake Shack from a “hold” rating to an “underperform” rating and set a $36.00 price target on the stock. in a report on Saturday, December 30th. Finally, Wedbush reaffirmed a “hold” rating and issued a $38.00 price target on shares of Shake Shack in a report on Friday, February 16th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $39.73.
Shake Shack stock opened at $41.08 on Friday. Shake Shack has a 12 month low of $30.12 and a 12 month high of $47.39. The firm has a market capitalization of $1,508.68, a P/E ratio of -513.44, a PEG ratio of 3.99 and a beta of 1.41.
Shake Shack (NYSE:SHAK) last announced its earnings results on Thursday, February 15th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.04. Shake Shack had a positive return on equity of 9.47% and a negative net margin of 0.63%. The firm had revenue of $96.14 million for the quarter, compared to the consensus estimate of $92.80 million. During the same quarter in the previous year, the business earned $0.09 EPS. The company’s revenue was up 31.2% compared to the same quarter last year. analysts forecast that Shake Shack will post 0.46 earnings per share for the current year.
In other Shake Shack news, COO Zach Koff sold 3,000 shares of the business’s stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $40.98, for a total transaction of $122,940.00. Following the sale, the chief operating officer now owns 6,978 shares of the company’s stock, valued at approximately $285,958.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey Flug sold 25,000 shares of the business’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $42.36, for a total transaction of $1,059,000.00. Following the sale, the director now directly owns 4,415 shares in the company, valued at approximately $187,019.40. The disclosure for this sale can be found here. Insiders sold a total of 531,276 shares of company stock worth $22,352,826 in the last ninety days. 34.91% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the business. Wasatch Advisors Inc. bought a new stake in Shake Shack during the 3rd quarter valued at $1,994,000. OxFORD Asset Management LLP bought a new stake in Shake Shack during the 3rd quarter valued at $1,423,000. Sylebra HK Co Ltd raised its holdings in Shake Shack by 2.6% during the 3rd quarter. Sylebra HK Co Ltd now owns 1,001,849 shares of the company’s stock valued at $33,291,000 after acquiring an additional 25,546 shares during the period. OppenheimerFunds Inc. raised its holdings in Shake Shack by 39.1% during the 4th quarter. OppenheimerFunds Inc. now owns 1,005,241 shares of the company’s stock valued at $43,427,000 after acquiring an additional 282,404 shares during the period. Finally, Maverick Capital Ltd. bought a new stake in Shake Shack during the 4th quarter valued at $7,601,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.
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.
Receive News & Ratings for Shake Shack Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shake Shack and related companies with MarketBeat.com's FREE daily email newsletter.