Shake Shack (NYSE:SHAK) Given New $80.00 Price Target at Mizuho

Shake Shack (NYSE:SHAK) had its price objective cut by stock analysts at Mizuho from $90.00 to $80.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho‘s target price indicates a potential upside of 13.65% from the stock’s current price.

Several other research analysts have also recently commented on the stock. TD Cowen restated a “hold” rating on shares of Shake Shack in a report on Wednesday, August 5th. Royal Bank Of Canada began coverage on shares of Shake Shack in a research note on Tuesday, September 8th. They issued an “outperform” rating and a $89.00 price target on the stock. DA Davidson boosted their price target on shares of Shake Shack from $70.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Robert W. Baird upgraded shares of Shake Shack to a “hold” rating in a research note on Monday, August 24th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Shake Shack from $105.00 to $93.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Sixteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.00.

Shake Shack Stock Performance

SHAK opened at $70.39 on Friday. The business’s 50-day moving average price is $65.35 and its two-hundred day moving average price is $75.20. Shake Shack has a 1 year low of $51.60 and a 1 year high of $107.46. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of 74.88, a P/E/G ratio of 7.20 and a beta of 1.68. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.67 and a quick ratio of 1.64.

Shake Shack (NYSE:SHAK) last released its earnings results on Wednesday, August 5th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.31 by $0.12. The firm had revenue of $417.62 million for the quarter, compared to analysts’ expectations of $417.18 million. Shake Shack had a return on equity of 9.29% and a net margin of 2.56%. The business’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.44 EPS. Equities analysts expect that Shake Shack will post 1.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Shake Shack

Several large investors have recently made changes to their positions in SHAK. IFP Advisors Inc grew its holdings in Shake Shack by 43.0% during the second quarter. IFP Advisors Inc now owns 924 shares of the company’s stock worth $52,000 after purchasing an additional 278 shares during the period. Gamco Investors INC. ET AL increased its position in Shake Shack by 6.7% during the first quarter. Gamco Investors INC. ET AL now owns 6,743 shares of the company’s stock worth $597,000 after buying an additional 426 shares during the last quarter. GAMMA Investing LLC raised its stake in Shake Shack by 50.5% in the third quarter. GAMMA Investing LLC now owns 1,437 shares of the company’s stock valued at $84,000 after buying an additional 482 shares during the period. Root Financial Partners LLC bought a new stake in Shake Shack in the third quarter valued at approximately $31,000. Finally, CI Investments Inc. raised its stake in Shake Shack by 0.5% in the first quarter. CI Investments Inc. now owns 116,755 shares of the company’s stock valued at $10,329,000 after buying an additional 599 shares during the period. Institutional investors and hedge funds own 86.07% of the company’s stock.

About Shake Shack

Shake Shack Inc operates a fast-casual restaurant chain known for made-to-order burgers, chicken sandwiches, hot dogs, crinkle-cut fries, frozen custard, milkshakes and beverages. Its menu also includes vegetarian and other specialty items, with offerings varying by location. The company emphasizes hospitality, quality ingredients and restaurant designs intended to support both dine-in and takeout service.

The business began as a temporary hot dog cart in Madison Square Park in New York City in 2001 and opened its first permanent restaurant there in 2004.