Morgan Stanley Increases Shake Shack (SHAK) Price Target to $56.00

Shake Shack (NYSE:SHAK) had its price objective upped by Morgan Stanley from $52.00 to $56.00 in a research report released on Friday morning, BenzingaRatingsTable reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other equities research analysts have also weighed in on SHAK. Wedbush reduced their price objective on Shake Shack from $56.00 to $54.00 and set a neutral rating for the company in a research note on Tuesday, February 26th. Zacks Investment Research lowered Shake Shack from a hold rating to a sell rating in a report on Friday, March 1st. Longbow Research lowered Shake Shack from a buy rating to a neutral rating and set a $58.80 target price for the company. in a report on Wednesday, April 17th. They noted that the move was a valuation call. SunTrust Banks increased their target price on Shake Shack to $70.00 and gave the company a buy rating in a report on Friday. Finally, Stifel Nicolaus increased their target price on Shake Shack from $45.00 to $50.00 and gave the company a hold rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. Shake Shack presently has an average rating of Hold and an average price target of $55.09.

SHAK opened at $59.33 on Friday. The firm has a market cap of $2.23 billion, a PE ratio of 83.56, a P/E/G ratio of 4.32 and a beta of 1.44. Shake Shack has a fifty-two week low of $40.67 and a fifty-two week high of $70.12.

Shake Shack (NYSE:SHAK) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.13 earnings per share for the quarter, hitting the consensus estimate of $0.13. The business had revenue of $132.60 million during the quarter, compared to analyst estimates of $127.23 million. Shake Shack had a return on equity of 9.81% and a net margin of 2.88%. The company’s revenue was up 33.7% compared to the same quarter last year. During the same period last year, the company posted $0.15 EPS. On average, research analysts anticipate that Shake Shack will post 0.59 earnings per share for the current year.

In related news, COO Zach Koff sold 10,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $54.25, for a total transaction of $542,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel Harris Meyer sold 75,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $61.55, for a total value of $4,616,250.00. Following the sale, the director now owns 1,032 shares of the company’s stock, valued at $63,519.60. The disclosure for this sale can be found here. Insiders sold 962,886 shares of company stock valued at $54,179,276 in the last 90 days. Corporate insiders own 30.18% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Squarepoint Ops LLC purchased a new stake in shares of Shake Shack during the fourth quarter worth $2,613,000. Man Group plc raised its holdings in shares of Shake Shack by 347.0% during the third quarter. Man Group plc now owns 52,294 shares of the company’s stock worth $3,296,000 after acquiring an additional 40,594 shares in the last quarter. MetLife Investment Advisors LLC purchased a new stake in shares of Shake Shack during the third quarter worth $1,084,000. Geode Capital Management LLC raised its holdings in shares of Shake Shack by 9.0% during the fourth quarter. Geode Capital Management LLC now owns 262,094 shares of the company’s stock worth $11,904,000 after acquiring an additional 21,649 shares in the last quarter. Finally, Rothschild & Co. Asset Management US Inc. purchased a new stake in shares of Shake Shack during the fourth quarter worth $1,608,000. Institutional investors and hedge funds own 82.88% 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 26, 2018, it operated 208 Shacks, including 124 domestic company-operated Shacks, 12 domestic licensed Shacks, and 72 international licensed Shacks.

Further Reading: Market Capitalization in the Stock Market

Analyst Recommendations for Shake Shack (NYSE:SHAK)

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