Shake Shack (NYSE:SHAK) Price Target Raised to $86.00

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Shake Shack (NYSE:SHAK) had its price target lifted by Piper Jaffray Companies from $84.00 to $86.00 in a research note published on Monday morning, The Fly reports. Piper Jaffray Companies currently has an overweight rating on the stock. Piper Jaffray Companies also issued estimates for Shake Shack’s Q2 2020 earnings at $0.27 EPS and FY2021 earnings at $0.91 EPS.

Several other research firms also recently issued reports on SHAK. Longbow Research downgraded shares of Texas Instruments from a buy rating to a neutral rating and set a $116.20 price target for the company. in a research report on Wednesday, April 17th. Zacks Investment Research raised shares of HB Fuller from a sell rating to a hold rating in a research report on Wednesday, July 3rd. TheStreet downgraded shares of Viewray from a c- rating to a d rating in a research report on Friday, May 3rd. Credit Suisse Group started coverage on shares of Arco Platform in a research report on Tuesday, June 25th. They issued a neutral rating for the company. Finally, Morgan Stanley set a $226.00 price target on shares of S&P Global and gave the company a hold rating in a research report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $60.44.

Shares of SHAK stock opened at $73.90 on Monday. The firm has a market cap of $2.79 billion, a P/E ratio of 104.08, a price-to-earnings-growth ratio of 5.71 and a beta of 1.41. Shake Shack has a 52 week low of $40.67 and a 52 week high of $76.49. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.94. The stock’s 50 day moving average is $68.00.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.13. Shake Shack had a net margin of 2.88% and a return on equity of 9.64%. The business had revenue of $132.60 million during the quarter, compared to the consensus estimate of $127.23 million. During the same quarter last year, the firm posted $0.15 EPS. Shake Shack’s revenue was up 33.7% compared to the same quarter last year. As a group, equities analysts expect that Shake Shack will post 0.58 EPS for the current year.

In other news, CEO Randall J. Garutti sold 25,000 shares of Shake Shack stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $67.03, for a total transaction of $1,675,750.00. Following the sale, the chief executive officer now directly owns 98,555 shares in the company, valued at approximately $6,606,141.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Randall J. Garutti sold 15,000 shares of Shake Shack stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $61.10, for a total value of $916,500.00. Following the sale, the chief executive officer now owns 38,555 shares in the company, valued at $2,355,710.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,151,282 shares of company stock worth $75,717,767. Company insiders own 21.85% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund raised its stake in shares of Shake Shack by 1.8% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 10,010 shares of the company’s stock worth $592,000 after purchasing an additional 181 shares during the period. LS Investment Advisors LLC raised its stake in Shake Shack by 4.7% in the 1st quarter. LS Investment Advisors LLC now owns 4,372 shares of the company’s stock valued at $259,000 after acquiring an additional 196 shares during the period. LPL Financial LLC raised its stake in Shake Shack by 5.2% in the 4th quarter. LPL Financial LLC now owns 5,015 shares of the company’s stock valued at $228,000 after acquiring an additional 248 shares during the period. Arizona State Retirement System raised its stake in Shake Shack by 0.7% in the 1st quarter. Arizona State Retirement System now owns 40,097 shares of the company’s stock valued at $2,372,000 after acquiring an additional 294 shares during the period. Finally, Mason Street Advisors LLC raised its stake in Shake Shack by 4.0% in the 1st quarter. Mason Street Advisors LLC now owns 8,348 shares of the company’s stock valued at $494,000 after acquiring an additional 321 shares during the period. Institutional investors own 84.37% of the company’s stock.

Shake Shack Company Profile

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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Analyst Recommendations for Shake Shack (NYSE:SHAK)

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