Wedbush Reaffirms Neutral Rating for Shake Shack (NYSE:SHAK)

Shake Shack (NYSE:SHAK - Get Free Report)'s stock had its "neutral" rating reaffirmed by equities researchers at Wedbush in a research report issued on Wednesday,Benzinga reports. They presently have a $130.00 target price on the stock. Wedbush's target price would suggest a potential upside of 11.46% from the company's current price.

A number of other research firms also recently commented on SHAK. UBS Group lifted their target price on shares of Shake Shack from $130.00 to $140.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 7th. Stifel Nicolaus upped their target price on shares of Shake Shack from $115.00 to $128.00 and gave the company a "hold" rating in a report on Friday, January 10th. Barclays upgraded Shake Shack from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $125.00 to $159.00 in a research note on Tuesday, January 7th. Truist Financial lowered their target price on Shake Shack from $149.00 to $143.00 and set a "buy" rating on the stock in a research report on Tuesday. Finally, Gordon Haskett raised shares of Shake Shack from a "hold" rating to a "buy" rating and set a $154.00 target price for the company in a report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $124.78.

Shake Shack Stock Performance

Shares of NYSE:SHAK traded down $2.10 during midday trading on Wednesday, reaching $116.63. 1,587,474 shares of the company's stock traded hands, compared to its average volume of 1,418,921. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.98 and a current ratio of 2.01. Shake Shack has a one year low of $64.16 and a one year high of $139.89. The company has a market cap of $4.95 billion, a price-to-earnings ratio of 686.06, a P/E/G ratio of 2.83 and a beta of 1.86. The stock has a 50 day moving average of $129.92 and a 200 day moving average of $110.92.

Shake Shack (NYSE:SHAK - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.05. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The business had revenue of $316.92 million for the quarter, compared to analysts' expectations of $316.03 million. During the same quarter in the prior year, the business earned $0.17 EPS. The business's revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Shake Shack will post 0.82 EPS for the current fiscal year.

Insider Activity at Shake Shack

In related news, Director Daniel Harris Meyer sold 22,691 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $124.47, for a total value of $2,824,348.77. Following the completion of the transaction, the director now directly owns 437,646 shares of the company's stock, valued at $54,473,797.62. This trade represents a 4.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Katherine Irene Fogertey sold 642 shares of Shake Shack stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $137.51, for a total transaction of $88,281.42. Following the sale, the chief financial officer now owns 30,717 shares of the company's stock, valued at $4,223,894.67. The trade was a 2.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 53,333 shares of company stock valued at $6,566,330 over the last ninety days. 9.73% of the stock is owned by company insiders.

Institutional Trading of Shake Shack

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SHAK. Quest Partners LLC purchased a new position in Shake Shack during the 2nd quarter worth approximately $38,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Shake Shack in the third quarter worth $41,000. Kimelman & Baird LLC purchased a new position in shares of Shake Shack during the second quarter worth $45,000. Covestor Ltd lifted its position in Shake Shack by 41.6% during the third quarter. Covestor Ltd now owns 698 shares of the company's stock valued at $72,000 after purchasing an additional 205 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Shake Shack by 56.3% in the fourth quarter. GAMMA Investing LLC now owns 736 shares of the company's stock valued at $96,000 after purchasing an additional 265 shares during the last quarter. Institutional investors and hedge funds 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.