Shake Shack (NYSE:SHAK) Shares Up 7.1% Following Analyst Upgrade

Shake Shack Inc (NYSE:SHAK)’s stock price rose 7.1% during trading on Thursday after SunTrust Banks raised their price target on the stock to $102.00. SunTrust Banks currently has a buy rating on the stock. Shake Shack traded as high as $96.17 and last traded at $95.79, approximately 1,734,131 shares traded hands during trading. An increase of 124% from the average daily volume of 773,261 shares. The stock had previously closed at $89.45.

A number of other research analysts have also weighed in on SHAK. Goldman Sachs Group initiated coverage on Shake Shack in a research report on Monday, July 29th. They set a “buy” rating and a $95.00 price objective for the company. Piper Jaffray Companies raised their price objective on Shake Shack from $84.00 to $86.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. TheStreet upgraded Shake Shack from a “c” rating to a “b” rating in a research report on Friday, May 3rd. ValuEngine upgraded Shake Shack from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 6th. Finally, Stifel Nicolaus raised their price objective on Shake Shack from $45.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, May 3rd. Seven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $74.99.

In related news, Director Jeffrey Flug sold 8,794 shares of Shake Shack stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $90.31, for a total value of $794,186.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel Harris Meyer sold 75,000 shares of Shake Shack stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $59.61, for a total value of $4,470,750.00. Following the completion of the transaction, the director now owns 1,032 shares of the company’s stock, valued at approximately $61,517.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 769,761 shares of company stock valued at $56,217,732. 21.85% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the business. Captrust Financial Advisors purchased a new position in shares of Shake Shack during the second quarter valued at approximately $42,000. Kistler Tiffany Companies LLC purchased a new position in shares of Shake Shack during the second quarter valued at approximately $68,000. Point72 Hong Kong Ltd purchased a new position in shares of Shake Shack during the second quarter valued at approximately $135,000. National Asset Management Inc. purchased a new position in shares of Shake Shack during the second quarter valued at approximately $203,000. Finally, Aperio Group LLC purchased a new position in shares of Shake Shack during the second quarter valued at approximately $230,000. Institutional investors and hedge funds own 85.09% of the company’s stock.

The firm’s 50-day moving average is $76.24. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of 134.92, a PEG ratio of 6.24 and a beta of 1.41. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.08 and a current ratio of 1.10.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.05. Shake Shack had a net margin of 2.96% and a return on equity of 9.01%. The firm had revenue of $152.71 million during the quarter, compared to the consensus estimate of $149.77 million. During the same quarter in the previous year, the firm posted $0.29 earnings per share. The company’s revenue was up 31.3% on a year-over-year basis. Equities analysts anticipate that Shake Shack Inc will post 0.64 EPS for the current year.

Shake Shack Company Profile (NYSE:SHAK)

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.

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