Shake Shack (SHAK) Lowered to Underperform at Jefferies Group

Jefferies Group lowered shares of Shake Shack (NYSE:SHAK) from a hold rating to an underperform rating in a research note published on Saturday morning. Jefferies Group currently has $36.00 price objective on the stock.

Several other analysts have also recently issued reports on the company. SunTrust Banks reiterated a buy rating and issued a $48.00 price objective on shares of Shake Shack in a research note on Thursday, October 12th. BidaskClub upgraded Shake Shack from a hold rating to a buy rating in a research note on Thursday, October 26th. Cowen increased their price objective on Shake Shack from $35.00 to $36.00 and gave the company a market perform rating in a research note on Thursday, November 2nd. Wedbush reiterated a hold rating and issued a $36.00 price objective on shares of Shake Shack in a research note on Thursday, November 2nd. Finally, Morgan Stanley upgraded Shake Shack from an underweight rating to an equal weight rating and reduced their price objective for the company from $43.04 to $34.00 in a research note on Thursday, December 7th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $37.76.

Shares of Shake Shack (NYSE:SHAK) opened at $43.20 on Friday. The stock has a market capitalization of $1,586.69, a price-to-earnings ratio of 69.68, a PEG ratio of 3.70 and a beta of 1.43. Shake Shack has a 52 week low of $30.12 and a 52 week high of $46.90.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings data on Wednesday, November 1st. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.02. The business had revenue of $94.60 million for the quarter, compared to analysts’ expectations of $94.17 million. Shake Shack had a return on equity of 9.42% and a net margin of 4.78%. The company’s revenue for the quarter was up 26.8% compared to the same quarter last year. During the same period last year, the firm earned $0.15 earnings per share. research analysts expect that Shake Shack will post 0.52 EPS for the current fiscal year.

In other Shake Shack news, SVP Peggy Rubenzer sold 5,400 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $37.90, for a total transaction of $204,660.00. Following the transaction, the senior vice president now owns 22,815 shares of the company’s stock, valued at $864,688.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Zach Koff sold 5,000 shares of the firm’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $37.00, for a total value of $185,000.00. Following the transaction, the chief operating officer now directly owns 8,978 shares in the company, valued at approximately $332,186. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 906,461 shares of company stock worth $37,017,489. 34.91% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. grew its holdings in shares of Shake Shack by 17.7% during the second quarter. Victory Capital Management Inc. now owns 4,371 shares of the company’s stock worth $152,000 after purchasing an additional 656 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its holdings in shares of Shake Shack by 6.8% during the second quarter. Municipal Employees Retirement System of Michigan now owns 4,380 shares of the company’s stock worth $153,000 after purchasing an additional 280 shares during the last quarter. Pacad Investment Ltd. grew its holdings in shares of Shake Shack by 1,225.0% during the second quarter. Pacad Investment Ltd. now owns 5,300 shares of the company’s stock worth $185,000 after purchasing an additional 4,900 shares during the last quarter. Cipher Capital LP purchased a new position in shares of Shake Shack during the third quarter worth about $211,000. Finally, Parametric Portfolio Associates LLC purchased a new position in shares of Shake Shack during the second quarter worth about $247,000. 83.16% of the stock is currently owned by institutional investors.

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Shake Shack Company Profile

Shake Shack Inc operates roadside burger stands. The Company serves an American menu of burgers, hot dogs, crispy chicken, frozen custard, crinkle cut fries, shakes, beer and wine, among others. The Company’s signature items are its all-natural, hormone and antibiotic-free burgers, hot dogs, crispy chicken, crinkle cut fries, shakes and frozen custard.

Analyst Recommendations for Shake Shack (NYSE:SHAK)

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