Shake Shack (NYSE:SHAK) Given New $131.00 Price Target at Truist Financial

Shake Shack (NYSE:SHAK - Free Report) had its price target reduced by Truist Financial from $154.00 to $131.00 in a report issued on Tuesday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other brokerages have also weighed in on SHAK. Robert W. Baird decreased their target price on Shake Shack from $98.00 to $85.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Stifel Nicolaus dropped their target price on shares of Shake Shack from $120.00 to $97.00 and set a "hold" rating on the stock in a report on Tuesday, April 15th. Wells Fargo & Company initiated coverage on shares of Shake Shack in a report on Wednesday, March 26th. They issued an "equal weight" rating and a $95.00 price target for the company. Oppenheimer lowered their price target on shares of Shake Shack from $155.00 to $125.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Finally, Wedbush lifted their price objective on shares of Shake Shack from $115.00 to $125.00 and gave the company a "neutral" rating in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $118.29.

Shake Shack Trading Down 0.0 %

Shares of SHAK stock traded down $0.01 during trading hours on Tuesday, reaching $89.96. 168,412 shares of the stock were exchanged, compared to its average volume of 1,429,399. The company has a current ratio of 1.97, a quick ratio of 1.98 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $3.83 billion, a price-to-earnings ratio of 391.50 and a beta of 1.80. Shake Shack has a 12-month low of $72.93 and a 12-month high of $139.89. The company's 50-day moving average price is $92.20 and its 200-day moving average price is $112.08.

Shake Shack (NYSE:SHAK - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.01. The business had revenue of $328.68 million during the quarter, compared to the consensus estimate of $329.02 million. Shake Shack had a return on equity of 8.40% and a net margin of 0.81%. As a group, equities analysts anticipate that Shake Shack will post 1.26 earnings per share for the current year.

Hedge Funds Weigh In On Shake Shack

A number of institutional investors have recently modified their holdings of the stock. Nemes Rush Group LLC acquired a new stake in Shake Shack during the fourth quarter worth about $29,000. Harvest Fund Management Co. Ltd purchased a new stake in Shake Shack in the 4th quarter worth approximately $32,000. Farther Finance Advisors LLC boosted its position in Shake Shack by 939.3% in the 1st quarter. Farther Finance Advisors LLC now owns 291 shares of the company's stock worth $26,000 after purchasing an additional 263 shares in the last quarter. Transcendent Capital Group LLC acquired a new stake in shares of Shake Shack during the 4th quarter worth approximately $52,000. Finally, Garde Capital Inc. purchased a new position in shares of Shake Shack during the 1st quarter valued at approximately $35,000. Hedge funds and other institutional investors own 86.07% of the company's stock.

About Shake Shack

Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, chicken, hot dogs, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. The company was founded in 2001 and is headquartered in New York, New York.