Shake Shack (SHAK) Price Target Cut to $45.00 by Analysts at Barclays
Shake Shack (NYSE:SHAK) had its target price decreased by Barclays from $49.00 to $45.00 in a report issued on Friday, February 16th, Marketbeat.com reports. The brokerage currently has an “equal weight” rating on the stock. Barclays’ price target points to a potential upside of 8.10% from the company’s current price.
A number of other research analysts have also issued reports on SHAK. Morgan Stanley lifted their target price on Shake Shack from $32.00 to $34.00 and gave the stock an “equal weight” rating in a report on Thursday, November 2nd. Wedbush reaffirmed a “hold” rating and set a $38.00 target price on shares of Shake Shack in a report on Friday, February 16th. Cowen lifted their target price on Shake Shack from $35.00 to $36.00 and gave the stock a “market perform” rating in a report on Thursday, November 2nd. SunTrust Banks set a $54.00 price target on Shake Shack and gave the stock a “buy” rating in a research note on Friday, February 16th. Finally, BidaskClub raised Shake Shack from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 14th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $39.73.
Shake Shack (NYSE SHAK) opened at $41.63 on Friday. The company has a market capitalization of $1,530.00, a price-to-earnings ratio of 88.57, a PEG ratio of 4.13 and a beta of 1.41. Shake Shack has a fifty-two week low of $30.12 and a fifty-two week high of $47.39.
In other Shake Shack news, major shareholder Equity Group L.P. Select sold 52,276 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $45.03, for a total transaction of $2,353,988.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel Harris Meyer sold 100,000 shares of the firm’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $45.93, for a total value of $4,593,000.00. Following the sale, the director now owns 642 shares of the company’s stock, valued at $29,487.06. The disclosure for this sale can be found here. Insiders sold a total of 631,276 shares of company stock worth $26,945,826 in the last three months. 34.91% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in SHAK. Elkfork Partners LLC acquired a new stake in Shake Shack during the 4th quarter worth about $123,000. Cipher Capital LP acquired a new stake in Shake Shack during the 3rd quarter worth about $211,000. Sciencast Management LP acquired a new stake in Shake Shack during the 4th quarter worth about $227,000. Millennium Management LLC acquired a new stake in shares of Shake Shack during the 4th quarter valued at about $228,000. Finally, Municipal Employees Retirement System of Michigan lifted its holdings in shares of Shake Shack by 58.9% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 6,960 shares of the company’s stock valued at $231,000 after buying an additional 2,580 shares during the last quarter. Hedge funds and other institutional investors own 82.11% of the company’s stock.
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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.
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