Shake Shack Inc. (NYSE:SHAK – Get Rating) shares traded down 5.4% during trading on Monday after Credit Suisse Group lowered their price target on the stock from $61.00 to $57.00. Credit Suisse Group currently has a neutral rating on the stock. Shake Shack traded as low as $44.41 and last traded at $44.46. 4,498 shares were traded during trading, a decline of 100% from the average session volume of 901,239 shares. The stock had previously closed at $47.02.
Several other brokerages have also recently commented on SHAK. Morgan Stanley decreased their target price on shares of Shake Shack from $52.00 to $50.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 11th. Oppenheimer lowered their price objective on shares of Shake Shack from $75.00 to $69.00 and set an “outperform” rating for the company in a research note on Monday, August 8th. Deutsche Bank Aktiengesellschaft increased their target price on Shake Shack from $53.00 to $56.00 in a report on Monday. BTIG Research decreased their target price on shares of Shake Shack from $65.00 to $60.00 and set a “buy” rating for the company in a research report on Monday. Finally, Barclays cut their target price on Shake Shack to $44.00 in a research note on Tuesday, August 9th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $61.88.
Insiders Place Their Bets
In related news, COO Zach Koff sold 3,900 shares of Shake Shack stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $55.00, for a total value of $214,500.00. Following the completion of the sale, the chief operating officer now directly owns 31,085 shares in the company, valued at $1,709,675. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 9.98% of the company’s stock.
Hedge Funds Weigh In On Shake Shack
A number of hedge funds have recently made changes to their positions in the company. First Republic Investment Management Inc. increased its holdings in Shake Shack by 396.8% in the 3rd quarter. First Republic Investment Management Inc. now owns 78,273 shares of the company’s stock valued at $3,521,000 after purchasing an additional 62,517 shares during the last quarter. Rye Brook Capital LLC grew its stake in shares of Shake Shack by 1.1% during the 3rd quarter. Rye Brook Capital LLC now owns 37,000 shares of the company’s stock worth $1,664,000 after purchasing an additional 400 shares during the period. Victory Capital Management Inc. boosted its position in shares of Shake Shack by 30.8% in the third quarter. Victory Capital Management Inc. now owns 8,424 shares of the company’s stock worth $379,000 after acquiring an additional 1,986 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Shake Shack by 8.3% in the 3rd quarter. Great West Life Assurance Co. Can now owns 42,151 shares of the company’s stock valued at $1,895,000 after purchasing an additional 3,232 shares in the last quarter. Finally, Cornerstone Capital Inc. grew its holdings in shares of Shake Shack by 1.8% during the third quarter. Cornerstone Capital Inc. now owns 239,661 shares of the company’s stock valued at $10,780,000 after purchasing an additional 4,200 shares during the last quarter. Institutional investors and hedge funds own 92.15% of the company’s stock.
Shake Shack Stock Performance
The stock has a market cap of $1.87 billion, a P/E ratio of -79.69 and a beta of 1.58. The company has a fifty day moving average of $48.68 and a 200 day moving average of $47.98. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 2.86.
Shake Shack (NYSE:SHAK – Get Rating) last issued its quarterly earnings data on Thursday, November 3rd. The company reported ($0.06) EPS for the quarter, meeting analysts’ consensus estimates of ($0.06). The business had revenue of $227.81 million for the quarter, compared to analyst estimates of $226.79 million. Shake Shack had a negative return on equity of 3.52% and a negative net margin of 2.67%. On average, equities analysts predict that Shake Shack Inc. will post -0.38 earnings per share for the current fiscal year.
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 29, 2021, it operated 369 Shacks, including 218 domestic company-operated Shacks, 25 domestic licensed Shacks, and 126 international licensed Shacks.
