Shake Shack (NYSE:SHAK) Upgraded by Robert W. Baird to Hold Rating

by · The Markets Daily

Robert W. Baird upgraded shares of Shake Shack (NYSE:SHAK – Free Report) to a hold rating in a research note issued to investors on Monday morning,Zacks.com reports.

Several other equities analysts have also weighed in on SHAK. Stifel Nicolaus upgraded shares of Shake Shack from a “hold” rating to a “buy” rating and cut their price objective for the company from $105.00 to $85.00 in a report on Friday, May 8th. Wall Street Zen raised Shake Shack from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 8th. Guggenheim reduced their price target on Shake Shack from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. UBS Group decreased their price objective on Shake Shack from $79.00 to $68.00 and set a “neutral” rating for the company in a research note on Monday, August 3rd. Finally, Piper Sandler cut their target price on Shake Shack from $79.00 to $66.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 14th. Fifteen investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $89.74.

Check Out Our Latest Research Report on SHAK

Shake Shack Trading Down 1.9%

Shares of SHAK opened at $74.00 on Monday. The stock’s fifty day simple moving average is $62.72 and its 200-day simple moving average is $76.29. The firm has a market capitalization of $3.17 billion, a PE ratio of 78.72, a price-to-earnings-growth ratio of 8.25 and a beta of 1.63. Shake Shack has a 12-month low of $51.60 and a 12-month high of $107.49. The company has a quick ratio of 1.64, a current ratio of 1.67 and a debt-to-equity ratio of 0.43.

Shake Shack (NYSE:SHAK – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.12. Shake Shack had a return on equity of 9.29% and a net margin of 2.56%.The firm had revenue of $417.62 million during the quarter, compared to analysts’ expectations of $417.18 million. During the same period in the previous year, the business posted $0.44 EPS. The company’s quarterly revenue was up 17.2% compared to the same quarter last year. As a group, research analysts predict that Shake Shack will post 1.13 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System increased its position in shares of Shake Shack by 5,410.3% during the second quarter. California State Teachers Retirement System now owns 2,459,558 shares of the company’s stock worth $137,784,000 after acquiring an additional 2,414,922 shares in the last quarter. Fund 1 Investments LLC bought a new stake in Shake Shack in the 2nd quarter valued at $840,000. AlphaGrep UK Ltd acquired a new position in Shake Shack in the 2nd quarter worth $250,000. Raiffeisen Bank International AG bought a new position in Shake Shack during the 2nd quarter worth about $1,644,000. Finally, AXQ Capital LP bought a new position in Shake Shack during the 2nd quarter worth about $674,000. Institutional investors own 86.07% of the company’s stock.

About Shake Shack

(Get Free Report)

Shake Shack, Inc (NYSE: SHAK) is a publicly traded hospitality company known for its modern take on the classic American roadside burger stand. The company operates a chain of quick-casual restaurants offering premium hamburgers, hot dogs, crinkle-cut fries, frozen custard, milkshakes and a curated selection of beer and wine. Shake Shack emphasizes high-quality ingredients, including 100% all-natural Angus beef with no hormones or antibiotics, and works with local suppliers where possible to maintain its commitment to fresh, responsibly sourced food.

Shake Shack traces its origins to a hot dog cart opened in New York City’s Madison Square Park in 2001 by Danny Meyer’s Union Square Hospitality Group.

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