Longbow Research downgraded shares of Shake Shack (NYSE:SHAK) from a buy rating to a neutral rating in a research report released on Wednesday morning, Marketbeat.com reports. Longbow Research currently has $57.96 target price on the stock. The analysts noted that the move was a valuation call.
Several other equities analysts have also issued reports on the company. TheStreet lowered Shake Shack from a c rating to a d+ rating in a research note on Friday, March 16th. SunTrust Banks set a $54.00 price target on Shake Shack and gave the company a buy rating in a research note on Friday, February 16th. ValuEngine upgraded Shake Shack from a hold rating to a buy rating in a research note on Saturday, April 7th. JPMorgan Chase & Co. lowered Shake Shack from a neutral rating to an underweight rating and set a $49.00 price target on the stock. in a research note on Monday, May 7th. Finally, Barclays decreased their price target on Shake Shack from $49.00 to $45.00 and set an equal weight rating on the stock in a research note on Friday, February 16th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and three have given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $46.75.
Shake Shack stock opened at $57.89 on Wednesday. Shake Shack has a one year low of $30.12 and a one year high of $59.91. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of 101.56, a P/E/G ratio of 4.77 and a beta of 1.26.
Shake Shack (NYSE:SHAK) last issued its quarterly earnings results on Thursday, May 3rd. The company reported $0.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.07. Shake Shack had a positive return on equity of 9.17% and a negative net margin of 0.27%. The company had revenue of $99.20 million for the quarter, compared to analyst estimates of $96.77 million. During the same quarter last year, the company posted $0.10 EPS. The company’s revenue for the quarter was up 29.3% compared to the same quarter last year. equities analysts forecast that Shake Shack will post 0.54 earnings per share for the current year.
In related news, Director Jeffrey Flug sold 41,376 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $39.14, for a total transaction of $1,619,456.64. Following the sale, the director now owns 4,415 shares in the company, valued at approximately $172,803.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Zach Koff sold 3,000 shares of the business’s stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $40.98, for a total value of $122,940.00. Following the sale, the chief operating officer now owns 6,978 shares in the company, valued at approximately $285,958.44. The disclosure for this sale can be found here. Insiders have sold a total of 963,440 shares of company stock worth $51,397,444 in the last 90 days. 30.18% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Swiss National Bank grew its position in Shake Shack by 6.6% during the 4th quarter. Swiss National Bank now owns 35,400 shares of the company’s stock worth $1,529,000 after acquiring an additional 2,200 shares during the last quarter. Maverick Capital Ltd. acquired a new position in Shake Shack during the 4th quarter worth about $7,601,000. OppenheimerFunds Inc. lifted 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 worth $43,427,000 after buying an additional 282,404 shares during the period. BlackRock Inc. lifted its holdings in Shake Shack by 3.3% during the 4th quarter. BlackRock Inc. now owns 2,429,663 shares of the company’s stock worth $104,963,000 after buying an additional 77,844 shares during the period. Finally, Ellington Management Group LLC lifted its holdings in Shake Shack by 16.1% during the 4th quarter. Ellington Management Group LLC now owns 46,800 shares of the company’s stock worth $2,022,000 after buying an additional 6,500 shares during the period. Institutional investors and hedge funds own 85.89% of the company’s stock.
Shake Shack Company Profile
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 27, 2017, it had 159 Shacks, including 90 domestic company-operated Shacks, 10 domestic licensed Shacks, and 59 international licensed Shacks.
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