Truist Financial Forecasts Strong Price Appreciation for Shake Shack (NYSE:SHAK) Stock

Shake Shack (NYSE:SHAK - Get Free Report) had its price target boosted by research analysts at Truist Financial from $147.00 to $149.00 in a report released on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Truist Financial's price target points to a potential upside of 12.35% from the stock's current price.

Several other brokerages also recently issued reports on SHAK. JPMorgan Chase & Co. reissued an "underweight" rating and set a $102.00 price target (down from $105.00) on shares of Shake Shack in a report on Tuesday, September 24th. UBS Group lifted their target price on shares of Shake Shack from $130.00 to $140.00 and gave the company a "neutral" rating in a research note on Tuesday. 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 research report on Wednesday. Oppenheimer lifted their price objective on Shake Shack from $145.00 to $155.00 and gave the company an "outperform" rating in a research report on Tuesday. Finally, Barclays upgraded 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 note on Tuesday. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Shake Shack presently has an average rating of "Hold" and a consensus target price of $122.59.

Shake Shack Stock Performance

Shares of NYSE:SHAK traded up $0.59 during trading on Wednesday, hitting $132.62. 957,156 shares of the stock were exchanged, compared to its average volume of 1,071,991. The company has a market capitalization of $5.63 billion, a price-to-earnings ratio of 780.12, a price-to-earnings-growth ratio of 2.83 and a beta of 1.86. 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 1-year low of $64.16 and a 1-year high of $139.89. The company's fifty day simple moving average is $129.82 and its 200-day simple moving average is $109.73.

Shake Shack (NYSE:SHAK - Get Free Report) last announced its quarterly 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. The firm 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%. The business's revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.17 EPS. Sell-side analysts expect that Shake Shack will post 0.82 EPS for the current fiscal year.

Insider Buying and Selling at Shake Shack

In other news, CFO Katherine Irene Fogertey sold 642 shares of the business's stock in a transaction on 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 transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel Harris Meyer sold 30,000 shares of the firm's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $121.79, for a total value of $3,653,700.00. Following the sale, the director now directly owns 407,646 shares in the company, valued at $49,647,206.34. The trade was a 6.85 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 53,333 shares of company stock valued at $6,566,330. 9.73% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. State Street Corp grew its holdings in shares of Shake Shack by 3.5% during the third quarter. State Street Corp now owns 1,452,736 shares of the company's stock worth $149,937,000 after buying an additional 49,324 shares in the last quarter. Holocene Advisors LP increased its stake in Shake Shack by 68.3% in the 3rd quarter. Holocene Advisors LP now owns 946,350 shares of the company's stock valued at $97,673,000 after buying an additional 384,131 shares during the last quarter. Geode Capital Management LLC lifted its position in Shake Shack by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 876,380 shares of the company's stock worth $90,470,000 after buying an additional 26,620 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Shake Shack by 9.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 801,003 shares of the company's stock worth $72,088,000 after buying an additional 66,090 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of Shake Shack by 154.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 650,685 shares of the company's stock valued at $67,157,000 after acquiring an additional 395,311 shares in 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.