Truist Financial lowers Shake Shack (NYSE: SHAK) price target to $67.00


Shake Shack (NYSE: SHAK – Get a review) had its price target reduced by Truist Financial from $86.00 to $67.00 in a research note published on Friday, reports The Fly. They currently have a buy rating on the stock.

Several other research companies also commented on SHAK. Raymond James upgraded Shake Shack shares from an underperforming rating to a market performing rating in a Tuesday, May 17 research note. BTIG Research lowered its target price on Shake Shack shares from $85.00 to $70.00 in a Friday, May 6 research note. Barclays lowered its price target on Shake Shack shares from $57.00 to $46.00 and set an equal weighting rating on the stock in a Thursday June 9 research note. StockNews.com began covering Shake Shack shares in a research note on Thursday, March 31. They issued a sell note on the stock. Finally, Morgan Stanley lowered its price target on Shake Shack shares from $81.00 to $67.00 and set an equal weight rating on the stock in a Thursday, April 14 research note. Two research analysts rated the stock with a sell rating, nine issued a hold rating and six assigned the company a buy rating. Based on data from MarketBeat.com, Shake Shack has a consensus rating of Hold and a consensus price target of $74.56.

NYSE: SHAK opened at $40.79 on Friday. Shake Shack has a one-year low of $37.72 and a one-year high of $107.54. The company has a debt ratio of 0.57, a current ratio of 3.07 and a quick ratio of 3.04. The company’s 50-day simple moving average is $46.60 and its 200-day simple moving average is $60.78. The company has a market capitalization of $1.72 billion, a P/E ratio of -78.44 and a beta of 1.51.

Shake Shack (NYSE:SHAK – Get Rating) last released quarterly earnings data on Thursday, May 5. The company reported ($0.19) EPS for the quarter, beating the consensus estimate 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 company posted revenue of $203.39 million for the quarter, versus analyst estimates of $200.64 million. In the same quarter a year earlier, the company posted earnings per share of $0.04. Shake Shack’s quarterly revenue increased 31.0% year over year. On average, equity research analysts expect Shake Shack to post -0.3 earnings per share for the current fiscal year.

A number of hedge funds have recently changed their positions in the business. Vanguard Group Inc. increased its stake in Shake Shack by 1.2% during the first quarter. Vanguard Group Inc. now owns 4,071,207 shares of the company valued at $276,435,000 after purchasing an additional 48,614 shares in the last quarter. State Street Corp increased its stake in Shake Shack by 3.5% during the first quarter. State Street Corp now owns 1,267,146 shares of the company valued at $86,039,000 after purchasing an additional 43,087 shares in the last quarter. Champlain Investment Partners LLC increased its stake in Shake Shack by 39.1% during the fourth quarter. Champlain Investment Partners LLC now owns 814,685 shares of the company valued at $58,788,000 after purchasing an additional 228,975 shares in the last quarter. Van Berkom & Associates Inc. increased its stake in Shake Shack by 5.4% during the first quarter. Van Berkom & Associates Inc. now owns 728,850 shares of the company valued at $49,489,000 after purchasing an additional 37,482 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Shake Shack by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 478,403 shares of the company valued at $34,522,000 after buying 3,858 additional shares in the last quarter. 81.03% of the shares are held by institutional investors and hedge funds.

About Shake Shack (Get a rating)

Shake Shack Inc owns, operates and licenses Shake Shack restaurants (Shacks) in the United States and around the world. Its Shacks offer burgers, hot dogs, chicken, crinkle cut fries, shakes, ice cream, beer, wine and other products. As of December 29, 2021, it operated 369 huts, including 218 nationally-operated huts, 25 nationally licensed huts, and 126 internationally licensed huts.

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Richard L. Militello