Shake Shack (NYSE:SHAK) Now Covered by Analysts at Wells Fargo & Company

Investment analysts at Wells Fargo & Company assumed coverage on shares of Shake Shack (NYSE:SHAK) in a note issued to investors on Wednesday,Briefing.com Automated Import reports. The brokerage set an “equal weight” rating and a $95.00 price target on the stock. Wells Fargo & Company‘s price target would suggest a potential downside of 0.23% from the company’s previous close.

A number of other brokerages have also recently issued reports on SHAK. Wedbush upped their target price on Shake Shack from $115.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, February 21st. Stifel Nicolaus reduced their price objective on shares of Shake Shack from $128.00 to $110.00 and set a “hold” rating for the company in a research note on Friday, January 17th. Gordon Haskett raised shares of Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 price objective for the company in a report on Wednesday, January 8th. TD Securities reiterated a “buy” rating and issued a $140.00 target price on shares of Shake Shack in a report on Friday, February 21st. Finally, Barclays raised shares of Shake Shack from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $125.00 to $159.00 in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $124.05.

Shake Shack Stock Down 0.3 %

SHAK stock opened at $95.22 on Wednesday. The firm has a market cap of $4.05 billion, a PE ratio of 414.00 and a beta of 1.89. Shake Shack has a 1 year low of $77.50 and a 1 year high of $139.89. The company has a fifty day simple moving average of $106.80 and a 200 day simple moving average of $115.41. The company has a current ratio of 1.97, a quick ratio of 1.98 and a debt-to-equity ratio of 0.50.

Shake Shack (NYSE:SHAK) last posted its earnings results on Thursday, February 20th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.01. The company had revenue of $328.68 million for the quarter, compared to analyst estimates of $329.02 million. Shake Shack had a return on equity of 8.40% and a net margin of 0.81%. Sell-side analysts anticipate that Shake Shack will post 1.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GDS Wealth Management grew its stake in shares of Shake Shack by 253.6% in the 4th quarter. GDS Wealth Management now owns 14,277 shares of the company’s stock valued at $1,853,000 after purchasing an additional 10,239 shares during the period. Fisher Asset Management LLC boosted its stake in Shake Shack by 4.8% in the 3rd quarter. Fisher Asset Management LLC now owns 354,114 shares of the company’s stock valued at $36,548,000 after buying an additional 16,097 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Shake Shack by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 361,930 shares of the company’s stock valued at $46,979,000 after acquiring an additional 8,429 shares during the period. FMR LLC raised its stake in Shake Shack by 3.6% during the third quarter. FMR LLC now owns 243,549 shares of the company’s stock worth $25,137,000 after acquiring an additional 8,512 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Shake Shack during the third quarter worth $867,000. Institutional investors own 86.07% of the company’s stock.

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.