Shake Shack (NYSE:SHAK) had its target price reduced by SunTrust Banks to $60.00 in a report released on Friday morning, The Fly reports. SunTrust Banks currently has a buy rating on the stock. SunTrust Banks also issued estimates for Shake Shack’s Q4 2018 earnings at ($0.01) EPS, FY2019 earnings at $0.64 EPS and FY2020 earnings at $0.84 EPS.
Several other research analysts have also recently weighed in on the stock. Wedbush cut their price target on shares of Shake Shack from $62.00 to $56.00 and set a neutral rating on the stock in a report on Friday. Zacks Investment Research cut shares of Shake Shack from a strong-buy rating to a hold rating in a report on Tuesday, October 23rd. Stifel Nicolaus began coverage on shares of Shake Shack in a report on Tuesday, October 9th. They set a hold rating and a $65.00 price target on the stock. Barclays boosted their price target on shares of Shake Shack from $52.00 to $59.00 and gave the stock an equal weight rating in a report on Monday, August 6th. Finally, Cowen restated a hold rating and set a $59.00 price target on shares of Shake Shack in a report on Wednesday, July 25th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Shake Shack presently has an average rating of Hold and a consensus price target of $53.90.
Shares of NYSE SHAK traded down $0.05 during mid-day trading on Friday, reaching $47.14. 14,699 shares of the company’s stock traded hands, compared to its average volume of 869,522. The stock has a market capitalization of $1.75 billion, a P/E ratio of 82.07, a P/E/G ratio of 3.27 and a beta of 1.36. Shake Shack has a 1-year low of $35.56 and a 1-year high of $70.12.
Shake Shack (NYSE:SHAK) last issued its quarterly earnings data on Thursday, November 1st. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.08. Shake Shack had a net margin of 0.40% and a return on equity of 11.02%. The firm had revenue of $119.65 million during the quarter, compared to analysts’ expectations of $116.81 million. During the same period last year, the company earned $0.17 earnings per share. The business’s revenue was up 26.5% on a year-over-year basis. On average, research analysts forecast that Shake Shack will post 0.64 EPS for the current year.
In other Shake Shack news, major shareholder Equity Group L.P. Select sold 6,222 shares of Shake Shack stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $62.14, for a total value of $386,635.08. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jonathan D. Sokoloff sold 500,000 shares of Shake Shack stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $57.15, for a total transaction of $28,575,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,284,560 shares of company stock worth $74,700,300. Insiders own 30.18% of the company’s stock.
A number of hedge funds have recently made changes to their positions in SHAK. Rehmann Capital Advisory Group bought a new stake in Shake Shack in the second quarter worth about $124,000. Advisors Asset Management Inc. raised its position in Shake Shack by 2,263.0% in the second quarter. Advisors Asset Management Inc. now owns 50,214 shares of the company’s stock worth $212,000 after acquiring an additional 48,089 shares during the period. HM Payson & Co. bought a new stake in Shake Shack in the second quarter worth about $249,000. Pinebridge Investments L.P. bought a new stake in Shake Shack in the second quarter worth about $250,000. Finally, Amalgamated Bank bought a new stake in Shake Shack in the second quarter worth about $261,000. 87.50% of the stock is currently owned by institutional investors and hedge funds.
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 October 9, 2018, it operated 180 locations in 26 U.S.
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