Morgan Stanley Cuts Shake Shack (NYSE:SHAK) Price Target to $76.00

Shake Shack (NYSE:SHAK) had its price target reduced by Morgan Stanley from $84.00 to $76.00 in a research note released on Tuesday, Stock Target Advisor reports. Morgan Stanley currently has an equal weight rating on the stock.

Other equities analysts have also recently issued reports about the company. MKM Partners assumed coverage on Shake Shack in a research report on Tuesday, August 13th. They set a neutral rating and a $75.00 price target on the stock. Credit Suisse Group raised their price objective on Shake Shack from $77.00 to $83.00 and gave the stock an outperform rating in a research note on Tuesday, August 6th. SunTrust Banks reduced their price objective on Shake Shack to $85.00 and set a buy rating for the company in a research note on Tuesday. Barclays reduced their price objective on Shake Shack from $70.00 to $66.00 and set an equal weight rating for the company in a research note on Tuesday. Finally, ValuEngine lowered Shake Shack from a buy rating to a hold rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company’s stock. Shake Shack currently has a consensus rating of Hold and a consensus target price of $75.99.

Shares of SHAK stock opened at $62.06 on Tuesday. Shake Shack has a 1 year low of $40.67 and a 1 year high of $105.84. The stock has a market cap of $2.49 billion, a PE ratio of 87.41, a price-to-earnings-growth ratio of 4.08 and a beta of 1.24. The business’s fifty day moving average is $89.51 and its 200-day moving average is $78.98. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.08 and a current ratio of 1.04.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.06. Shake Shack had a return on equity of 9.50% and a net margin of 3.69%. The company had revenue of $157.76 million for the quarter, compared to analysts’ expectations of $157.45 million. During the same period last year, the firm earned $0.21 EPS. The firm’s revenue for the quarter was up 31.9% on a year-over-year basis. Equities research analysts predict that Shake Shack will post 0.65 earnings per share for the current year.

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In other news, Director Robert T. Vivian sold 25,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $99.13, for a total value of $2,478,250.00. Following the completion of the sale, the director now owns 35,181 shares of the company’s stock, valued at $3,487,492.53. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jeffrey Flug sold 8,794 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $90.31, for a total value of $794,186.14. The disclosure for this sale can be found here. In the last ninety days, insiders sold 188,919 shares of company stock valued at $18,057,001. 21.85% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of the company. Cetera Advisors LLC boosted its position in shares of Shake Shack by 6.9% in the third quarter. Cetera Advisors LLC now owns 12,740 shares of the company’s stock worth $1,251,000 after buying an additional 820 shares during the period. Lisanti Capital Growth LLC acquired a new stake in shares of Shake Shack in the third quarter worth $2,365,000. Mason Street Advisors LLC boosted its position in shares of Shake Shack by 19.0% in the third quarter. Mason Street Advisors LLC now owns 10,386 shares of the company’s stock worth $1,018,000 after buying an additional 1,661 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Shake Shack in the third quarter worth $118,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Shake Shack in the third quarter worth $82,000. 84.64% of the stock is owned by institutional investors and hedge funds.

Shake Shack Company Profile

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 26, 2018, it operated 208 Shacks, including 124 domestic company-operated Shacks, 12 domestic licensed Shacks, and 72 international licensed Shacks.

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