TD Cowen Reaffirms Buy Rating for Shake Shack (NYSE:SHAK)

Shake Shack (NYSE:SHAK)‘s stock had its “buy” rating reissued by research analysts at TD Cowen in a research report issued on Thursday, Benzinga reports. They presently have a $125.00 price target on the stock. TD Cowen’s target price would indicate a potential upside of 19.17% from the company’s current price.

SHAK has been the topic of several other research reports. Raymond James upped their target price on shares of Shake Shack from $90.00 to $115.00 and gave the stock a “strong-buy” rating in a report on Friday, February 16th. Morgan Stanley upped their price objective on shares of Shake Shack from $88.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Friday, April 12th. BTIG Research lifted their target price on shares of Shake Shack from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. Truist Financial increased their price target on Shake Shack from $112.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on Shake Shack from $65.00 to $100.00 and gave the company an “underweight” rating in a research report on Monday, March 4th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $88.67.

Shake Shack Stock Performance

SHAK stock traded up $1.56 during trading on Thursday, reaching $104.89. 1,242,179 shares of the stock were exchanged, compared to its average volume of 943,877. Shake Shack has a twelve month low of $52.64 and a twelve month high of $110.90. The company has a current ratio of 2.04, a quick ratio of 2.01 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $4.44 billion, a P/E ratio of 228.26, a price-to-earnings-growth ratio of 3.81 and a beta of 1.78. The stock has a 50 day simple moving average of $102.02 and a 200-day simple moving average of $79.87.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings results on Thursday, February 15th. The company reported $0.02 earnings per share for the quarter. The firm had revenue of $286.20 million for the quarter, compared to the consensus estimate of $280.45 million. Shake Shack had a net margin of 1.82% and a return on equity of 3.67%. The business’s revenue was up 20.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.06) earnings per share. As a group, sell-side analysts anticipate that Shake Shack will post 0.71 earnings per share for the current year.

Insider Transactions at Shake Shack

In other news, Director Jeffrey Flug sold 304 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $108.05, for a total value of $32,847.20. Following the completion of the transaction, the director now owns 4,058 shares in the company, valued at $438,466.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Daniel Harris Meyer sold 40,000 shares of Shake Shack stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $106.34, for a total value of $4,253,600.00. Following the sale, the director now owns 480,437 shares of the company’s stock, valued at approximately $51,089,670.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey Flug sold 304 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $108.05, for a total value of $32,847.20. Following the transaction, the director now directly owns 4,058 shares of the company’s stock, valued at approximately $438,466.90. The disclosure for this sale can be found here. Insiders have sold a total of 100,760 shares of company stock valued at $10,190,420 over the last 90 days. 10.06% of the stock is owned by company insiders.

Hedge Funds Weigh In On Shake Shack

Several hedge funds have recently modified their holdings of SHAK. QRG Capital Management Inc. increased its stake in shares of Shake Shack by 4.5% during the 4th quarter. QRG Capital Management Inc. now owns 3,711 shares of the company’s stock worth $275,000 after purchasing an additional 161 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in Shake Shack during the first quarter worth about $25,000. SG Americas Securities LLC raised its stake in Shake Shack by 6.9% in the third quarter. SG Americas Securities LLC now owns 3,747 shares of the company’s stock valued at $218,000 after buying an additional 243 shares during the period. Commonwealth Equity Services LLC lifted its position in shares of Shake Shack by 5.7% in the third quarter. Commonwealth Equity Services LLC now owns 4,560 shares of the company’s stock valued at $265,000 after buying an additional 247 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in shares of Shake Shack by 1.4% in the third quarter. Los Angeles Capital Management LLC now owns 19,679 shares of the company’s stock valued at $1,143,000 after buying an additional 274 shares during the last quarter. Institutional investors own 86.07% of the company’s stock.

About Shake Shack

Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, chicken, hot dogs, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. The company was founded in 2001 and is headquartered in New York, New York.