Shake Shack (NYSE:SHAK) had its price target reduced by Piper Jaffray Companies from $109.00 to $97.00 in a research note issued to investors on Tuesday, The Fly reports. Piper Jaffray Companies currently has an overweight rating on the stock. Piper Jaffray Companies also issued estimates for Shake Shack’s Q4 2019 earnings at $0.02 EPS, FY2019 earnings at $0.68 EPS, Q2 2020 earnings at $0.28 EPS, Q3 2020 earnings at $0.23 EPS, Q4 2020 earnings at $0.05 EPS, FY2020 earnings at $0.69 EPS and FY2021 earnings at $0.89 EPS.
SHAK has been the subject of several other reports. Credit Suisse Group lifted their price objective on shares of Shake Shack from $77.00 to $83.00 and gave the company an outperform rating in a research note on Tuesday, August 6th. ValuEngine cut shares of Shake Shack from a buy rating to a hold rating in a research note on Wednesday, October 2nd. Wedbush set a $84.00 price objective on shares of Shake Shack and gave the company a hold rating in a research note on Friday, October 25th. MKM Partners assumed coverage on shares of Shake Shack in a research note on Tuesday, August 13th. They set a neutral rating and a $75.00 price objective for the company. Finally, SunTrust Banks lifted their price objective on shares of Shake Shack to $102.00 and gave the company a buy rating in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $75.99.
NYSE SHAK traded down $0.94 on Tuesday, hitting $62.06. 2,223,417 shares of the company’s stock traded hands, compared to its average volume of 888,934. The company has a current ratio of 1.04, a quick ratio of 1.08 and a debt-to-equity ratio of 0.99. Shake Shack has a 1-year low of $40.67 and a 1-year high of $105.84. The firm’s 50-day moving average price is $89.51 and its two-hundred day moving average price is $78.98. The firm has a market capitalization of $2.49 billion, a PE ratio of 87.41, a P/E/G ratio of 4.08 and a beta of 1.24.
Shake Shack (NYSE:SHAK) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.20 by $0.06. Shake Shack had a net margin of 3.69% and a return on equity of 9.50%. The business had revenue of $157.76 million during the quarter, compared to analysts’ expectations of $157.45 million. During the same period in the previous year, the business posted $0.21 EPS. The business’s quarterly revenue was up 31.9% compared to the same quarter last year. On average, research analysts anticipate that Shake Shack will post 0.65 earnings per share for the current fiscal year.
In other news, CEO Randall J. Garutti sold 60,000 shares of Shake Shack stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $103.00, for a total transaction of $6,180,000.00. Following the completion of the transaction, the chief executive officer now directly owns 90,702 shares of the company’s stock, valued at approximately $9,342,306. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jenna Lyons sold 5,125 shares of Shake Shack stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $98.92, for a total transaction of $506,965.00. Following the transaction, the director now directly owns 4,237 shares of the company’s stock, valued at $419,124.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 188,919 shares of company stock valued at $18,057,001. Insiders own 21.85% of the company’s stock.
Several large investors have recently bought and sold shares of SHAK. Zweig DiMenna Associates LLC purchased a new position in shares of Shake Shack during the 2nd quarter valued at approximately $7,169,000. Oregon Public Employees Retirement Fund increased its holdings in shares of Shake Shack by 2.0% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 10,210 shares of the company’s stock valued at $737,000 after purchasing an additional 200 shares in the last quarter. Accuvest Global Advisors increased its holdings in Shake Shack by 158.2% in the 2nd quarter. Accuvest Global Advisors now owns 16,958 shares of the company’s stock worth $1,224,000 after acquiring an additional 10,391 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in Shake Shack by 14.3% in the 2nd quarter. Commonwealth Equity Services LLC now owns 6,688 shares of the company’s stock worth $482,000 after acquiring an additional 835 shares in the last quarter. Finally, Kistler Tiffany Companies LLC purchased a new stake in Shake Shack in the 2nd quarter worth $68,000. 84.64% of the stock is owned by hedge funds and other institutional investors.
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, hot dogs, chicken, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. As of December 26, 2018, it operated 208 Shacks, including 124 domestic company-operated Shacks, 12 domestic licensed Shacks, and 72 international licensed Shacks.
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