Shake Shack (NYSE:SHAK) Earns “Buy” Rating from DA Davidson

Shake Shack (NYSE:SHAK)‘s stock had its “buy” rating reaffirmed by stock analysts at DA Davidson in a research note issued on Monday,Benzinga reports. They presently have a $70.00 price objective on the stock. DA Davidson’s price target would indicate a potential upside of 26.26% from the stock’s current price.

Several other equities analysts also recently commented on the company. Raymond James Financial downgraded Shake Shack from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the company from $125.00 to $85.00 in a research note on Wednesday, June 3rd. Morgan Stanley reiterated an “equal weight” rating and set a $76.00 price target (down from $115.00) on shares of Shake Shack in a research note on Wednesday, June 3rd. Wells Fargo & Company lowered their price objective on Shake Shack from $80.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 3rd. Zacks Research raised shares of Shake Shack from a “strong sell” rating to a “hold” rating in a research report on Monday, March 9th. Finally, UBS Group reissued a “neutral” rating and set a $79.00 target price on shares of Shake Shack in a report on Wednesday, June 3rd. Fifteen equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Shake Shack has a consensus rating of “Moderate Buy” and a consensus target price of $91.00.

Shake Shack Stock Performance

NYSE SHAK opened at $55.44 on Monday. The company has a market capitalization of $2.37 billion, a PE ratio of 57.56, a price-to-earnings-growth ratio of 2.52 and a beta of 1.63. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.66 and a current ratio of 1.69. Shake Shack has a 52-week low of $51.60 and a 52-week high of $144.65. The company has a 50-day simple moving average of $70.46 and a 200 day simple moving average of $83.52.

Insider Activity

In related news, Director Jeffrey Flug purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were bought at an average price of $61.30 per share, for a total transaction of $61,300.00. Following the purchase, the director directly owned 5,470 shares of the company’s stock, valued at approximately $335,311. This represents a 22.37% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert Lynch purchased 5,000 shares of the stock in a transaction dated Friday, May 15th. The stock was bought at an average cost of $60.39 per share, with a total value of $301,950.00. Following the transaction, the chief executive officer owned 77,845 shares in the company, valued at $4,701,059.55. The trade was a 6.86% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders bought 50,616 shares of company stock valued at $3,109,782. 8.32% of the stock is currently owned by insiders.

Institutional Trading of Shake Shack

A number of institutional investors and hedge funds have recently modified their holdings of SHAK. Hilton Head Capital Partners LLC purchased a new stake in shares of Shake Shack during the fourth quarter valued at $25,000. Geneos Wealth Management Inc. bought a new position in Shake Shack during the 1st quarter valued at about $26,000. Assetmark Inc. boosted its holdings in shares of Shake Shack by 457.6% during the 4th quarter. Assetmark Inc. now owns 368 shares of the company’s stock valued at $30,000 after acquiring an additional 302 shares during the last quarter. UMB Bank n.a. grew its stake in shares of Shake Shack by 42.2% in the fourth quarter. UMB Bank n.a. now owns 391 shares of the company’s stock worth $32,000 after acquiring an additional 116 shares during the period. Finally, Advisory Services Network LLC purchased a new position in shares of Shake Shack during the third quarter valued at approximately $38,000. Institutional investors 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.