Shake Shack (NYSE:SHAK) Trading 5.1% Higher on Analyst Upgrade

Shake Shack Inc. (NYSE:SHAK - Get Free Report)'s stock price traded up 5.1% during mid-day trading on Monday after Truist Financial raised their price target on the stock from $143.00 to $154.00. Truist Financial currently has a buy rating on the stock. Shake Shack traded as high as $114.58 and last traded at $114.30. 1,398,272 shares changed hands during trading, a decline of 4% from the average session volume of 1,458,953 shares. The stock had previously closed at $108.72.

A number of other research firms also recently weighed in on SHAK. Barclays raised shares of Shake Shack from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $125.00 to $159.00 in a research report on Tuesday, January 7th. TD Securities reaffirmed a "buy" rating and issued a $140.00 target price on shares of Shake Shack in a research report on Friday, February 21st. UBS Group increased their price target on Shake Shack from $130.00 to $140.00 and gave the company a "neutral" rating in a research report on Tuesday, January 7th. Stifel Nicolaus decreased their price target on Shake Shack from $128.00 to $110.00 and set a "hold" rating for the company in a research note on Friday, January 17th. Finally, Oppenheimer upped their price objective on Shake Shack from $145.00 to $155.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Shake Shack has a consensus rating of "Hold" and a consensus target price of $125.50.

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Insider Transactions at Shake Shack

In other Shake Shack news, CFO Katherine Irene Fogertey sold 642 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $137.51, for a total transaction of $88,281.42. Following the sale, the chief financial officer now directly owns 30,717 shares in the company, valued at $4,223,894.67. This represents a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 9.73% of the company's stock.

Institutional Trading of Shake Shack

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Shake Shack by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 4,426,015 shares of the company's stock valued at $574,497,000 after purchasing an additional 49,883 shares in the last quarter. State Street Corp boosted its holdings in shares of Shake Shack by 3.5% during the 3rd quarter. State Street Corp now owns 1,452,736 shares of the company's stock valued at $149,937,000 after acquiring an additional 49,324 shares in the last quarter. Invesco Ltd. grew its position in Shake Shack by 30.7% during the 4th quarter. Invesco Ltd. now owns 1,245,093 shares of the company's stock worth $161,613,000 after acquiring an additional 292,348 shares during the last quarter. Holocene Advisors LP increased its holdings in Shake Shack by 68.3% in the 3rd quarter. Holocene Advisors LP now owns 946,350 shares of the company's stock worth $97,673,000 after purchasing an additional 384,131 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised its position in Shake Shack by 17.7% in the fourth quarter. Balyasny Asset Management L.P. now owns 894,286 shares of the company's stock valued at $116,078,000 after purchasing an additional 134,475 shares during the last quarter. Institutional investors own 86.07% of the company's stock.

Shake Shack Stock Down 1.3 %

The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of 473.13 and a beta of 1.86. The company has a quick ratio of 1.98, a current ratio of 1.97 and a debt-to-equity ratio of 0.50. The stock has a 50 day moving average price of $120.78 and a 200 day moving average price of $116.64.

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

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.