Shake Shack (NYSE:SHAK) Price Target Raised to $79.00

Shake Shack (NYSE:SHAK) had its price objective boosted by Morgan Stanley from $74.00 to $79.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other equities research analysts have also recently weighed in on the company. TD Cowen restated a “hold” rating on shares of Shake Shack in a research note on Wednesday, August 5th. Mizuho set a $90.00 price target on Shake Shack in a research note on Thursday, August 6th. Weiss Ratings raised Shake Shack from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, September 9th. Royal Bank Of Canada assumed coverage on Shake Shack in a research report on Tuesday, September 8th. They set an “outperform” rating and a $89.00 price objective for the company. Finally, UBS Group dropped their price objective on Shake Shack from $79.00 to $68.00 and set a “neutral” rating for the company in a research report on Monday, August 3rd. Sixteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $87.00.

Shake Shack Price Performance

Shares of NYSE:SHAK opened at $70.23 on Thursday. The firm has a 50 day moving average of $66.21 and a 200-day moving average of $68.95. The stock has a market capitalization of $3.01 billion, a PE ratio of 74.71, a PEG ratio of 7.66 and a beta of 1.68. The company has a current ratio of 1.67, a quick ratio of 1.64 and a debt-to-equity ratio of 0.43. Shake Shack has a 12 month low of $51.60 and a 12 month high of $107.46.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.12. The business had revenue of $417.62 million for the quarter, compared to analyst estimates of $417.18 million. Shake Shack had a net margin of 2.56% and a return on equity of 9.29%. The firm’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same quarter last year, the business posted $0.44 EPS. On average, equities research analysts predict that Shake Shack will post 1.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. IFP Advisors Inc raised its position in Shake Shack by 35.7% in the third quarter. IFP Advisors Inc now owns 1,254 shares of the company’s stock valued at $74,000 after purchasing an additional 330 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Shake Shack by 48.7% during the third quarter. Assenagon Asset Management S.A. now owns 323,692 shares of the company’s stock worth $18,994,000 after purchasing an additional 106,075 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Shake Shack by 50.5% during the third quarter. GAMMA Investing LLC now owns 1,437 shares of the company’s stock worth $84,000 after purchasing an additional 482 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Shake Shack during the second quarter worth about $47,000. Finally, Hedeker Wealth LLC acquired a new position in shares of Shake Shack in the second quarter valued at approximately $2,843,000. 86.07% of the stock is currently owned by institutional investors.

Shake Shack Company Profile

Shake Shack Inc operates a fast-casual restaurant brand known for made-to-order burgers, chicken sandwiches, hot dogs, crinkle-cut fries, frozen custard, milkshakes, and beverages including beer and wine at select locations. Its menu emphasizes premium ingredients and includes vegetarian and other non-meat options.

The company began as a seasonal hot dog cart in Madison Square Park in New York City in 2001 and opened its first permanent restaurant there in 2004. Shake Shack has since expanded through a combination of company-operated and licensed restaurants, with locations across the United States and in international markets, including parts of Asia, Europe and the Middle East.

Shake Shack also offers digital ordering, delivery, catering and merchandise.