Shake Shack (NYSE:SHAK) Coverage Initiated at BNP Paribas Exane

Equities researchers at BNP Paribas Exane assumed coverage on shares of Shake Shack (NYSE:SHAK) in a research note issued on Monday. The firm set an “outperform” rating and a $124.00 price target on the stock. BNP Paribas Exane’s price target indicates a potential upside of 52.42% from the stock’s previous close.

Several other brokerages also recently issued reports on SHAK. Deutsche Bank Aktiengesellschaft raised shares of Shake Shack from a “hold” rating to a “buy” rating and set a $105.00 price target on the stock in a report on Tuesday, January 6th. TD Cowen lifted their price objective on Shake Shack from $100.00 to $105.00 and gave the stock a “hold” rating in a research report on Thursday, February 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Shake Shack in a research note on Wednesday, January 21st. Raymond James Financial set a $140.00 target price on Shake Shack in a report on Wednesday, January 21st. Finally, Wells Fargo & Company raised their price target on Shake Shack from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Shake Shack currently has a consensus rating of “Hold” and a consensus target price of $116.96.

Shake Shack Trading Up 0.0%

NYSE:SHAK opened at $81.35 on Monday. Shake Shack has a 52-week low of $72.93 and a 52-week high of $144.65. The company has a quick ratio of 1.73, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. The stock has a fifty day simple moving average of $92.03 and a 200-day simple moving average of $90.82. The company has a market capitalization of $3.47 billion, a PE ratio of 74.64, a price-to-earnings-growth ratio of 4.38 and a beta of 1.73.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. Shake Shack had a net margin of 3.16% and a return on equity of 11.08%. The firm had revenue of $400.53 million for the quarter, compared to analysts’ expectations of $402.06 million. During the same period in the prior year, the company earned $0.26 EPS. The firm’s revenue was up 21.8% on a year-over-year basis. On average, equities research analysts expect that Shake Shack will post 1.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Shake Shack

Institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Shake Shack by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,627 shares of the company’s stock worth $1,995,000 after acquiring an additional 976 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in Shake Shack by 4,210.3% in the 1st quarter. Jones Financial Companies Lllp now owns 2,500 shares of the company’s stock valued at $220,000 after acquiring an additional 2,442 shares during the last quarter. United Services Automobile Association acquired a new position in Shake Shack in the 1st quarter valued at $219,000. Geneos Wealth Management Inc. purchased a new position in shares of Shake Shack during the 1st quarter worth $26,000. Finally, CreativeOne Wealth LLC purchased a new position in shares of Shake Shack during the 2nd quarter worth $315,000. Institutional investors and hedge funds own 86.07% of the company’s stock.

About Shake Shack

Shake Shack, Inc (NYSE: SHAK) is a publicly traded hospitality company known for its modern take on the classic American roadside burger stand. The company operates a chain of quick-casual restaurants offering premium hamburgers, hot dogs, crinkle-cut fries, frozen custard, milkshakes and a curated selection of beer and wine. Shake Shack emphasizes high-quality ingredients, including 100% all-natural Angus beef with no hormones or antibiotics, and works with local suppliers where possible to maintain its commitment to fresh, responsibly sourced food.

Shake Shack traces its origins to a hot dog cart opened in New York City’s Madison Square Park in 2001 by Danny Meyer’s Union Square Hospitality Group.