Shake Shack (NYSE:SHAK) Price Target Raised to $147.00 at Truist Financial

Shake Shack (NYSE:SHAK - Free Report) had its price target boosted by Truist Financial from $144.00 to $147.00 in a report published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $102.00 target price (down from $105.00) on shares of Shake Shack in a report on Tuesday, September 24th. TD Cowen restated a "buy" rating and issued a $125.00 price objective on shares of Shake Shack in a report on Wednesday, September 18th. Oppenheimer increased their target price on Shake Shack from $122.00 to $135.00 and gave the company an "outperform" rating in a research note on Monday, October 28th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $115.00 price target on shares of Shake Shack in a research note on Wednesday, August 28th. Finally, Barclays increased their price objective on Shake Shack from $115.00 to $125.00 and gave the company an "equal weight" rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $113.12.

Shake Shack Stock Up 3.0 %

Shares of NYSE:SHAK traded up $3.73 during midday trading on Thursday, reaching $129.63. The company's stock had a trading volume of 1,086,649 shares, compared to its average volume of 925,698. The company has a quick ratio of 1.98, a current ratio of 2.01 and a debt-to-equity ratio of 0.51. The firm has a 50 day moving average of $123.64 and a 200-day moving average of $105.59. The firm has a market capitalization of $5.51 billion, a P/E ratio of 762.53, a PEG ratio of 2.83 and a beta of 1.85. Shake Shack has a 12-month low of $64.16 and a 12-month high of $139.89.

Shake Shack (NYSE:SHAK - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.20 by $0.05. The business had revenue of $316.92 million for the quarter, compared to analyst estimates of $316.03 million. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. Shake Shack's quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.17 earnings per share. On average, research analysts anticipate that Shake Shack will post 0.82 earnings per share for the current year.

Insider Transactions at Shake Shack

In other Shake Shack news, Director Daniel Harris Meyer sold 30,000 shares of the company's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $121.79, for a total value of $3,653,700.00. Following the completion of the transaction, the director now directly owns 407,646 shares in the company, valued at $49,647,206.34. This represents a 6.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Katherine Irene Fogertey sold 321 shares of Shake Shack stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $103.93, for a total transaction of $33,361.53. Following the transaction, the chief financial officer now owns 36,180 shares in the company, valued at approximately $3,760,187.40. This trade represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 63,754 shares of company stock worth $7,711,497 in the last three months. Corporate insiders own 9.73% of the company's stock.

Hedge Funds Weigh In On Shake Shack

A number of hedge funds and other institutional investors have recently modified their holdings of SHAK. Mowery & Schoenfeld Wealth Management LLC bought a new position in Shake Shack during the third quarter valued at approximately $41,000. Quest Partners LLC purchased a new stake in shares of Shake Shack during the 2nd quarter worth approximately $38,000. Kimelman & Baird LLC bought a new position in shares of Shake Shack during the 2nd quarter valued at approximately $45,000. Covestor Ltd grew its holdings in shares of Shake Shack by 41.6% in the third quarter. Covestor Ltd now owns 698 shares of the company's stock valued at $72,000 after purchasing an additional 205 shares in the last quarter. Finally, KBC Group NV increased its position in Shake Shack by 24.1% in the third quarter. KBC Group NV now owns 1,206 shares of the company's stock worth $124,000 after purchasing an additional 234 shares during the last quarter. 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.