Shake Shack, Inc. (NYSE:SHAK) Raised to Hold at BidaskClub
BidaskClub upgraded shares of Shake Shack, Inc. (NYSE:SHAK) from a sell rating to a hold rating in a research report released on Tuesday, October 3rd.
A number of other analysts have also issued reports on SHAK. Wedbush reissued a buy rating on shares of Shake Shack in a research report on Thursday, August 17th. SunTrust Banks, Inc. reaffirmed a buy rating on shares of Shake Shack in a research report on Monday, August 21st. Vetr downgraded Shake Shack from a strong-buy rating to a buy rating and set a $42.33 price target on the stock. in a report on Wednesday, June 7th. Cowen and Company reiterated a hold rating and set a $35.00 price target on shares of Shake Shack in a report on Tuesday, September 12th. Finally, TheStreet upgraded Shake Shack from a d rating to a c- rating in a report on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Shake Shack has an average rating of Hold and a consensus price target of $37.19.
Shake Shack (NYSE SHAK) traded up 0.75% during midday trading on Tuesday, reaching $33.54. 370,051 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $32.69 and its 200-day moving average price is $32.69. Shake Shack has a 1-year low of $30.52 and a 1-year high of $39.70. The company has a market capitalization of $871.40 million, a PE ratio of 58.43 and a beta of 1.33.
Shake Shack (NYSE:SHAK) last announced its earnings results on Thursday, August 3rd. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.16 by $0.04. The company had revenue of $91.30 million during the quarter, compared to analysts’ expectations of $89.00 million. Shake Shack had a net margin of 4.70% and a return on equity of 8.71%. The business’s revenue for the quarter was up 37.3% on a year-over-year basis. During the same period last year, the company posted $0.14 earnings per share. Equities analysts expect that Shake Shack will post $0.51 EPS for the current year.
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In other Shake Shack news, CEO Randall J. Garutti sold 16,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $34.82, for a total value of $557,120.00. Following the sale, the chief executive officer now owns 26,961 shares in the company, valued at approximately $938,782.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey Flug sold 4,800 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $30.96, for a total value of $148,608.00. Following the completion of the sale, the director now owns 4,415 shares in the company, valued at approximately $136,688.40. The disclosure for this sale can be found here. Insiders have sold a total of 150,452 shares of company stock valued at $4,779,481 over the last three months. Company insiders own 34.91% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. FNY Partners Fund LP bought a new stake in shares of Shake Shack during the 1st quarter worth approximately $100,000. BNP Paribas Arbitrage SA raised its stake in Shake Shack by 206.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,666 shares of the company’s stock valued at $122,000 after acquiring an additional 2,469 shares during the period. Victory Capital Management Inc. raised its stake in Shake Shack by 109.7% in the 1st quarter. Victory Capital Management Inc. now owns 3,715 shares of the company’s stock valued at $124,000 after acquiring an additional 1,943 shares during the period. State of Alaska Department of Revenue raised its stake in Shake Shack by 85.2% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,630 shares of the company’s stock valued at $126,000 after acquiring an additional 1,670 shares during the period. Finally, Municipal Employees Retirement System of Michigan bought a new stake in Shake Shack in the 1st quarter valued at $137,000. Institutional investors own 82.30% of the company’s stock.
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.
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