Wedbush Reiterates Outperform Rating for Shake Shack, Inc. (SHAK)

Shake Shack, Inc. (NYSE:SHAK)‘s stock had its “outperform” rating restated by research analysts at Wedbush in a report issued on Sunday, July 30th, MarketBeat.com reports. They currently have a $40.00 price target on the stock, down from their previous price target of $43.00. Wedbush’s price objective indicates a potential upside of 27.92% from the company’s previous close.

A number of other research firms also recently issued reports on SHAK. Piper Jaffray Companies started coverage on shares of Shake Shack in a report on Wednesday, May 24th. They issued an “overweight” rating and a $44.00 target price for the company. Goldman Sachs Group, Inc. (The) lowered their target price on shares of Shake Shack from $34.00 to $30.00 and set a “neutral” rating for the company in a report on Thursday, April 6th. SunTrust Banks, Inc. set a $48.00 target price on shares of Shake Shack and gave the company a “buy” rating in a report on Tuesday, June 27th. Cowen and Company lowered their target price on shares of Shake Shack from $37.00 to $35.00 and set a “market perform” rating for the company in a report on Monday, May 15th. Finally, Barclays PLC lowered their target price on shares of Shake Shack from $38.00 to $35.00 and set an “equal weight” rating for the company in a report on Monday, May 8th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $37.60.

Shake Shack (NYSE:SHAK) opened at 31.27 on Friday. The stock has a market cap of $812.43 million, a PE ratio of 54.48 and a beta of 1.29. Shake Shack has a 52-week low of $30.36 and a 52-week high of $39.70. The company’s 50 day moving average is $33.69 and its 200-day moving average is $34.75.

Shake Shack (NYSE:SHAK) last released its earnings results on Thursday, August 3rd. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.04. Shake Shack had a net margin of 4.70% and a return on equity of 8.71%. The firm had revenue of $91.30 million during the quarter, compared to the consensus estimate of $89 million. During the same period in the previous year, the firm earned $0.14 earnings per share. Shake Shack’s revenue was up 37.3% compared to the same quarter last year. On average, equities analysts anticipate that Shake Shack will post $0.52 earnings per share for the current year.

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In other Shake Shack news, CEO Randall J. Garutti sold 8,000 shares of the stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $37.96, for a total transaction of $303,680.00. Following the sale, the chief executive officer now directly owns 18,961 shares of the company’s stock, valued at $719,759.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey Flug sold 3,321 shares of the stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $37.45, for a total transaction of $124,371.45. Following the sale, the director now directly owns 6,645 shares in the company, valued at $248,855.25. The disclosure for this sale can be found here. Insiders sold 94,773 shares of company stock worth $3,357,780 over the last ninety days. 34.91% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. purchased a new position in Shake Shack during the fourth quarter valued at approximately $230,000. RPG Investment Advisory LLC raised its position in Shake Shack by 12.3% in the first quarter. RPG Investment Advisory LLC now owns 12,813 shares of the company’s stock valued at $427,000 after buying an additional 1,400 shares in the last quarter. Arizona State Retirement System bought a new position in shares of Shake Shack during the first quarter worth about $311,000. Thrivent Financial For Lutherans bought a new position in shares of Shake Shack during the first quarter worth about $333,000. Finally, Swiss National Bank raised its position in shares of Shake Shack by 5.8% in the first quarter. Swiss National Bank now owns 23,700 shares of the company’s stock worth $792,000 after buying an additional 1,300 shares in the last quarter. Institutional investors and hedge funds own 97.46% of the company’s stock.

Shake Shack Company Profile

Shake Shack Inc operates roadside burger stands. The Company serves an American menu of burgers, hot dogs, crispy chicken, frozen custard, crinkle cut fries, shakes, beer and wine, among others. The Company’s signature items are its all-natural, hormone and antibiotic-free burgers, hot dogs, crispy chicken, crinkle cut fries, shakes and frozen custard.

Analyst Recommendations for Shake Shack (NYSE:SHAK)

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