Truist Financial Cuts Shake Shack (NYSE:SHAK) Price Target to $143.00

Shake Shack (NYSE:SHAK - Get Free Report) had its target price dropped by analysts at Truist Financial from $149.00 to $143.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Truist Financial's price target suggests a potential upside of 20.61% from the stock's current price.

Other equities analysts have also recently issued reports about the stock. JPMorgan Chase & Co. reiterated an "underweight" rating and set a $102.00 price objective (down from $105.00) on shares of Shake Shack in a research report on Tuesday, September 24th. Gordon Haskett upgraded Shake Shack from a "hold" rating to a "buy" rating and set a $154.00 price target on the stock in a report on Wednesday, January 8th. Barclays raised Shake Shack from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $125.00 to $159.00 in a research note on Tuesday, January 7th. Oppenheimer lifted their target price on Shake Shack from $145.00 to $155.00 and gave the company an "outperform" rating in a research note on Tuesday, January 7th. Finally, Stifel Nicolaus upped their target price on Shake Shack from $115.00 to $128.00 and gave the company a "hold" rating in a report on Friday. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Shake Shack presently has an average rating of "Hold" and an average target price of $122.56.

Shake Shack Price Performance

Shake Shack stock traded down $3.03 during midday trading on Tuesday, hitting $118.56. The company's stock had a trading volume of 1,409,025 shares, compared to its average volume of 1,400,691. Shake Shack has a 12 month low of $64.16 and a 12 month high of $139.89. 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 company has a market capitalization of $5.04 billion, a PE ratio of 697.41, a price-to-earnings-growth ratio of 2.83 and a beta of 1.86. The stock's 50-day moving average price is $130.09 and its 200-day moving average price is $110.72.

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

Insider Activity

In related news, Director Daniel Harris Meyer sold 30,000 shares of Shake Shack stock in a transaction on Friday, November 1st. The stock was sold at an average price of $121.79, for a total transaction of $3,653,700.00. Following the completion of the sale, the director now directly owns 407,646 shares of the company's stock, valued at $49,647,206.34. The trade was a 6.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Katherine Irene Fogertey sold 642 shares of the company's stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $137.51, for a total value of $88,281.42. Following the completion of the sale, the chief financial officer now directly owns 30,717 shares of the company's stock, valued at approximately $4,223,894.67. This trade represents a 2.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 53,333 shares of company stock valued at $6,566,330. Insiders own 9.73% of the company's stock.

Institutional Trading of Shake Shack

Several hedge funds have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. raised its holdings in shares of Shake Shack by 154.8% in the third quarter. Point72 Asset Management L.P. now owns 650,685 shares of the company's stock valued at $67,157,000 after purchasing an additional 395,311 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Shake Shack during the 3rd quarter worth about $39,677,000. Holocene Advisors LP boosted its stake in shares of Shake Shack by 68.3% during the 3rd quarter. Holocene Advisors LP now owns 946,350 shares of the company's stock worth $97,673,000 after buying an additional 384,131 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of Shake Shack by 101.2% in the 2nd quarter. Marshall Wace LLP now owns 544,336 shares of the company's stock valued at $48,990,000 after acquiring an additional 273,822 shares in the last quarter. Finally, Armistice Capital LLC grew its holdings in shares of Shake Shack by 69.1% in the 2nd quarter. Armistice Capital LLC now owns 579,904 shares of the company's stock valued at $52,191,000 after acquiring an additional 236,950 shares in 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.