Shake Shack (NYSE:SHAK) Price Target Raised to $102.00 at SunTrust Banks

Shake Shack (NYSE:SHAK) had its target price upped by equities research analysts at SunTrust Banks to $102.00 in a research report issued to clients and investors on Thursday, The Fly reports. The brokerage presently has a “buy” rating on the stock. SunTrust Banks’ price target indicates a potential upside of 14.03% from the stock’s previous close.

SHAK has been the topic of several other research reports. Zacks Investment Research upgraded Shake Shack from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a report on Friday, August 9th. Longbow Research cut Shake Shack from a “buy” rating to a “neutral” rating and set a $58.80 target price on the stock. in a research note on Wednesday, April 17th. They noted that the move was a valuation call. MKM Partners initiated coverage on Shake Shack in a research report on Tuesday. They set a “neutral” rating and a $75.00 price target on the stock. Barclays boosted their price target on Shake Shack from $58.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 6th. Finally, Morgan Stanley upped their price objective on Shake Shack from $61.00 to $65.00 and gave the company an “equal weight” rating in a report on Tuesday, August 6th. Seven research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $74.99.

Shares of SHAK stock opened at $89.45 on Thursday. The company has a market capitalization of $3.36 billion, a PE ratio of 125.99, a P/E/G ratio of 6.24 and a beta of 1.41. The business has a fifty day moving average price of $76.24. Shake Shack has a one year low of $40.67 and a one year high of $92.18. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.08 and a current ratio of 1.10.

Shake Shack (NYSE:SHAK) last announced its earnings results on Monday, August 5th. The company reported $0.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.05. The company had revenue of $152.71 million during the quarter, compared to analyst estimates of $149.77 million. Shake Shack had a return on equity of 9.01% and a net margin of 2.96%. The firm’s quarterly revenue was up 31.3% compared to the same quarter last year. During the same period last year, the company posted $0.29 earnings per share. Research analysts anticipate that Shake Shack will post 0.64 EPS for the current fiscal year.

In related news, Director Jeffrey Flug sold 8,794 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $90.31, for a total value of $794,186.14. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jonathan D. Sokoloff sold 21,144 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $60.20, for a total value of $1,272,868.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 769,761 shares of company stock worth $56,217,732. 21.85% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. raised its holdings in Shake Shack by 1,069.6% in the 2nd quarter. Invesco Ltd. now owns 1,099,642 shares of the company’s stock worth $79,394,000 after purchasing an additional 1,005,627 shares during the period. Victory Capital Management Inc. purchased a new position in shares of Shake Shack during the second quarter valued at about $58,021,000. BlackRock Inc. lifted its holdings in shares of Shake Shack by 6.1% in the 2nd quarter. BlackRock Inc. now owns 3,899,216 shares of the company’s stock valued at $281,523,000 after acquiring an additional 224,817 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Shake Shack by 770.5% in the 2nd quarter. Bank of America Corp DE now owns 180,673 shares of the company’s stock valued at $13,044,000 after acquiring an additional 159,919 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Shake Shack by 51.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 417,461 shares of the company’s stock valued at $18,960,000 after acquiring an additional 141,498 shares during the last quarter. 85.09% of the stock is currently owned by hedge funds and other institutional investors.

About Shake Shack

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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