Shake Shack (NYSE:SHAK) Stock Rating Reaffirmed by JPMorgan Chase & Co.

Shake Shack (NYSE:SHAK)‘s stock had its “underweight” rating reissued by equities research analysts at JPMorgan Chase & Co. in a research note issued on Tuesday, Benzinga reports. They currently have a $102.00 price target on the stock, down from their previous price target of $105.00. JPMorgan Chase & Co.‘s target price would indicate a potential downside of 3.55% from the stock’s previous close.

Several other research analysts also recently weighed in on the stock. TD Cowen restated a “buy” rating and set a $125.00 price objective on shares of Shake Shack in a report on Wednesday, September 18th. Piper Sandler downgraded shares of Shake Shack from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $121.00 to $114.00 in a report on Monday, August 19th. Bank of America increased their target price on shares of Shake Shack from $104.00 to $116.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Truist Financial reiterated a “buy” rating and issued a $127.00 target price on shares of Shake Shack in a report on Wednesday, August 28th. Finally, The Goldman Sachs Group increased their target price on shares of Shake Shack from $110.00 to $125.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $107.39.

Shake Shack Stock Up 1.5 %

Shake Shack stock opened at $105.75 on Tuesday. The company has a quick ratio of 2.03, a current ratio of 2.06 and a debt-to-equity ratio of 0.51. Shake Shack has a 12-month low of $52.79 and a 12-month high of $111.29. The firm’s fifty day moving average is $98.41 and its 200 day moving average is $97.48. The company has a market capitalization of $4.49 billion, a PE ratio of 192.28, a PEG ratio of 3.20 and a beta of 1.83.

Shake Shack (NYSE:SHAK) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.27 earnings per share for the quarter, hitting the consensus estimate of $0.27. Shake Shack had a net margin of 2.23% and a return on equity of 5.63%. The firm had revenue of $316.50 million for the quarter, compared to the consensus estimate of $314.37 million. During the same quarter in the prior year, the company posted $0.18 earnings per share. The business’s revenue was up 16.4% on a year-over-year basis. As a group, sell-side analysts predict that Shake Shack will post 0.73 EPS for the current fiscal year.

Insider Activity

In other news, Director Jeffrey Flug sold 304 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $90.39, for a total value of $27,478.56. Following the completion of the transaction, the director now directly owns 3,347 shares in the company, valued at $302,535.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Katherine Irene Fogertey sold 321 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $98.57, for a total value of $31,640.97. Following the sale, the chief financial officer now directly owns 36,822 shares of the company’s stock, valued at $3,629,544.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey Flug sold 304 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $90.39, for a total transaction of $27,478.56. Following the completion of the sale, the director now directly owns 3,347 shares in the company, valued at $302,535.33. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,213 shares of company stock worth $1,311,175. 9.73% of the stock is owned by company insiders.

Institutional Investors Weigh In On Shake Shack

A number of institutional investors and hedge funds have recently bought and sold shares of SHAK. Norges Bank purchased a new stake in Shake Shack in the fourth quarter valued at approximately $12,238,000. Capstone Investment Advisors LLC raised its stake in Shake Shack by 52.0% in the fourth quarter. Capstone Investment Advisors LLC now owns 16,993 shares of the company’s stock valued at $1,260,000 after purchasing an additional 5,817 shares in the last quarter. Madison Asset Management LLC raised its stake in Shake Shack by 52.6% in the fourth quarter. Madison Asset Management LLC now owns 84,062 shares of the company’s stock valued at $6,231,000 after purchasing an additional 28,975 shares in the last quarter. Blueshift Asset Management LLC purchased a new stake in Shake Shack in the fourth quarter valued at approximately $408,000. Finally, Armistice Capital LLC purchased a new stake in Shake Shack in the fourth quarter valued at approximately $11,213,000. 86.07% of the stock is owned by hedge funds and other institutional investors.

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.