Shake Shack (NYSE:SHAK) Price Target Cut to $48.00 by Analysts at Morgan Stanley

Shake Shack (NYSE:SHAK – Get Rating) had its price target dropped by investment analysts at Morgan Stanley from $63.00 to $48.00 in a report issued on Monday, The Fly reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target would indicate a potential upside of 3.94% from the company’s previous close.

A number of other research analysts have also commented on SHAK. Oppenheimer reduced their price target on shares of Shake Shack from $90.00 to $75.00 in a research report on Friday, May 6th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Shake Shack from $82.00 to $68.00 in a research report on Friday, May 6th. Wedbush reduced their price target on shares of Shake Shack from $83.00 to $75.00 in a research report on Friday, May 6th. StockNews.com started coverage on shares of Shake Shack in a research report on Thursday, March 31st. They issued a “sell” rating for the company. Finally, Raymond James upgraded shares of Shake Shack from an “underperform” rating to a “market perform” rating in a research report on Tuesday, May 17th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $69.22.

Shake Shack Trading Up 1.7 %

Shares of SHAK stock opened at $46.18 on Monday. The company’s fifty day simple moving average is $43.12 and its two-hundred day simple moving average is $58.35. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.07 and a quick ratio of 3.04. Shake Shack has a 1 year low of $37.72 and a 1 year high of $104.98. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of -88.81 and a beta of 1.51.

Shake Shack (NYSE:SHAK – Get Rating) last issued its earnings results on Thursday, May 5th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.03. Shake Shack had a negative net margin of 2.55% and a negative return on equity of 2.87%. The business had revenue of $203.39 million for the quarter, compared to analysts’ expectations of $200.64 million. The business’s revenue for the quarter was up 31.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.04 EPS. As a group, analysts anticipate that Shake Shack will post -0.32 earnings per share for the current year. Insiders Place Their Bets

In other Shake Shack news, COO Zach Koff sold 5,000 shares of the company’s stock in a transaction dated Thursday, July 14th. The shares were sold at an average price of $45.00, for a total value of $225,000.00. Following the sale, the chief operating officer now owns 31,085 shares in the company, valued at $1,398,825. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Daniel Harris Meyer purchased 21,000 shares of the business’s stock in a transaction dated Monday, July 11th. The shares were purchased at an average price of $39.58 per share, for a total transaction of $831,180.00. Following the completion of the acquisition, the director now directly owns 576,364 shares in the company, valued at approximately $22,812,487.12. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Zach Koff sold 5,000 shares of the stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $45.00, for a total transaction of $225,000.00. Following the sale, the chief operating officer now owns 31,085 shares in the company, valued at approximately $1,398,825. The disclosure for this sale can be found here. Corporate insiders own 9.98% of the company’s stock.

Institutional Investors Weigh In On Shake Shack

Institutional investors have recently made changes to their positions in the company. Champlain Investment Partners LLC boosted its holdings in Shake Shack by 39.1% in the fourth quarter. Champlain Investment Partners LLC now owns 814,685 shares of the company’s stock worth $58,788,000 after purchasing an additional 228,975 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Shake Shack in the fourth quarter worth approximately $13,249,000. EVR Research LP purchased a new stake in Shake Shack in the first quarter worth approximately $8,850,000. Landscape Capital Management L.L.C. boosted its holdings in Shake Shack by 2,427.0% in the first quarter. Landscape Capital Management L.L.C. now owns 117,731 shares of the company’s stock worth $7,994,000 after purchasing an additional 113,072 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in Shake Shack in the fourth quarter worth approximately $7,456,000. Hedge funds and other institutional investors own 81.03% of the company’s stock.

Shake Shack Company Profile

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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 29, 2021, it operated 369 Shacks, including 218 domestic company-operated Shacks, 25 domestic licensed Shacks, and 126 international licensed Shacks.

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