Shake Shack (SHAK) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Shake Shack (NYSE:SHAK) from a hold rating to a buy rating in a research note issued to investors on Thursday. They currently have $49.00 price target on the stock.

According to Zacks, “Shake Shack Inc. is engaged in owning and operating restaurants. The company offers burgers, hot dogs, frozen custard, crinkle cut fries, beer and wine. It operates primarily in New York, New Jersey, Washington, D.C., Connecticut, Georgia, Illinois, Pennsylvania, Florida, Massachusetts, Virginia, Nevada, London, Istanbul and Dubai. Shake Shack Inc. is headquartered in New York. “

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Several other brokerages have also recently commented on SHAK. ValuEngine raised Shake Shack from a hold rating to a buy rating in a report on Saturday, April 7th. Wedbush reissued a hold rating and set a $38.00 target price on shares of Shake Shack in a report on Friday, February 16th. Barclays dropped their target price on Shake Shack from $49.00 to $45.00 and set an equal weight rating on the stock in a report on Friday, February 16th. TheStreet cut Shake Shack from a c rating to a d+ rating in a report on Friday, March 16th. Finally, SunTrust Banks set a $54.00 target price on Shake Shack and gave the stock a buy rating in a report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. Shake Shack currently has an average rating of Buy and an average price target of $41.63.

Shares of SHAK stock opened at $43.43 on Thursday. Shake Shack has a 52 week low of $30.12 and a 52 week high of $47.39. The company has a market capitalization of $1,597.31, a price-to-earnings ratio of 76.19, a P/E/G ratio of 4.25 and a beta of 1.29.

Shake Shack (NYSE:SHAK) last released its quarterly earnings results on Thursday, February 15th. The company reported $0.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.04. The company had revenue of $96.14 million for the quarter, compared to analysts’ expectations of $92.80 million. Shake Shack had a positive return on equity of 9.47% and a negative net margin of 0.63%. The business’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 earnings per share. equities research analysts predict that Shake Shack will post 0.44 EPS for the current year.

In other Shake Shack news, CEO Randall J. Garutti sold 20,000 shares of Shake Shack stock in a transaction that occurred on Monday, March 26th. The shares were sold at an average price of $41.01, for a total value of $820,200.00. Following the transaction, the chief executive officer now owns 38,041 shares in the company, valued at $1,560,061.41. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Randall J. Garutti sold 40,000 shares of Shake Shack stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $44.70, for a total transaction of $1,788,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 388,000 shares of company stock worth $15,948,997. 34.91% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of SHAK. Elkfork Partners LLC acquired a new position in Shake Shack in the fourth quarter worth approximately $123,000. Sciencast Management LP acquired a new position in Shake Shack in the fourth quarter worth approximately $227,000. Millennium Management LLC purchased a new position in Shake Shack during the 4th quarter worth approximately $228,000. Crossmark Global Holdings Inc. purchased a new position in Shake Shack during the 4th quarter worth approximately $236,000. Finally, Rehmann Capital Advisory Group purchased a new position in Shake Shack during the 4th quarter worth approximately $273,000. Hedge funds and other institutional investors own 82.42% of the company’s stock.

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About Shake Shack

Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, hot dogs, chicken, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. As of December 27, 2017, it had 159 Shacks, including 90 domestic company-operated Shacks, 10 domestic licensed Shacks, and 59 international licensed Shacks.

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