Stock analysts at HSBC initiated coverage on shares of Shake Shack (NYSE:SHAK – Get Free Report) in a report issued on Wednesday, Briefing.com reports. The brokerage set a “hold” rating and a $74.00 price target on the stock. HSBC’s price target points to a potential upside of 1.82% from the stock’s current price.
Other equities analysts have also issued research reports about the stock. Northcoast Research upgraded shares of Shake Shack from a “neutral” rating to a “buy” rating and set a $85.00 target price for the company in a research report on Friday, September 15th. Barclays cut their price objective on Shake Shack from $72.00 to $59.00 and set an “equal weight” rating for the company in a research report on Monday, October 23rd. Stifel Nicolaus reduced their target price on Shake Shack from $62.00 to $60.00 and set a “hold” rating on the stock in a report on Tuesday, November 14th. Truist Financial restated a “buy” rating and set a $85.00 price target on shares of Shake Shack in a report on Monday, November 27th. Finally, Raymond James raised Shake Shack from an “outperform” rating to a “strong-buy” rating and set a $78.00 price objective on the stock in a report on Wednesday, December 6th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Shake Shack has a consensus rating of “Hold” and an average target price of $71.22.
Shake Shack Price Performance
Shares of Shake Shack stock opened at $72.68 on Wednesday. The stock’s 50-day simple moving average is $60.08 and its 200-day simple moving average is $66.76. Shake Shack has a 52 week low of $40.83 and a 52 week high of $80.58. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of 1,817.45 and a beta of 1.70. The company has a quick ratio of 2.09, a current ratio of 2.12 and a debt-to-equity ratio of 0.56.
Shake Shack (NYSE:SHAK – Get Free Report) last posted its quarterly earnings results on Thursday, November 2nd. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.08. Shake Shack had a return on equity of 2.93% and a net margin of 0.22%. The company had revenue of $276.21 million for the quarter, compared to analysts’ expectations of $275.96 million. As a group, analysts expect that Shake Shack will post 0.34 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Shake Shack
Several institutional investors have recently made changes to their positions in SHAK. 12 West Capital Management LP lifted its stake in shares of Shake Shack by 82.2% during the 3rd quarter. 12 West Capital Management LP now owns 1,659,600 shares of the company’s stock worth $96,373,000 after acquiring an additional 748,789 shares during the last quarter. Champlain Investment Partners LLC boosted its stake in shares of Shake Shack by 44.3% during the first quarter. Champlain Investment Partners LLC now owns 1,289,965 shares of the company’s stock valued at $71,580,000 after purchasing an additional 395,760 shares during the period. Man Group plc boosted its stake in shares of Shake Shack by 1,416.0% during the fourth quarter. Man Group plc now owns 418,006 shares of the company’s stock valued at $17,360,000 after purchasing an additional 390,433 shares during the period. Norges Bank bought a new position in shares of Shake Shack in the fourth quarter worth about $12,514,000. Finally, Qube Research & Technologies Ltd increased its stake in Shake Shack by 130.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 436,888 shares of the company’s stock worth $25,370,000 after buying an additional 246,952 shares during the period. Institutional investors own 91.70% of the company’s stock.
Shake Shack Company Profile
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.