Fintel reports that on August 4, 2023, Raymond James upgraded their outlook for Shake Shack Inc – (NYSE:SHAK) from Market Perform to Outperform.
Analyst Price Forecast Suggests 5.63% Downside
As of August 2, 2023, the average one-year price target for Shake Shack Inc – is 74.46. The forecasts range from a low of 60.60 to a high of $94.50. The average price target represents a decrease of 5.63% from its latest reported closing price of 78.90.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Shake Shack Inc – is 1,109MM, an increase of 11.86%. The projected annual non-GAAP EPS is -0.08.
What is the Fund Sentiment?
There are 519 funds or institutions reporting positions in Shake Shack Inc -. This is an increase of 18 owner(s) or 3.59% in the last quarter. Average portfolio weight of all funds dedicated to SHAK is 0.17%, a decrease of 37.07%. Total shares owned by institutions increased in the last three months by 1.89% to 40,284K shares. The put/call ratio of SHAK is 1.60, indicating a bearish outlook.
What are Other Shareholders Doing?
IJR – iShares Core S&P Small-Cap ETF holds 2,722K shares representing 6.91% ownership of the company. In it’s prior filing, the firm reported owning 2,765K shares, representing a decrease of 1.60%. The firm increased its portfolio allocation in SHAK by 27.78% over the last quarter.
Engaged Capital holds 1,718K shares representing 4.36% ownership of the company.
Gilder Gagnon Howe & Co holds 1,587K shares representing 4.03% ownership of the company. In it’s prior filing, the firm reported owning 1,616K shares, representing a decrease of 1.82%. The firm increased its portfolio allocation in SHAK by 16.55% over the last quarter.
12 West Capital Management holds 1,351K shares representing 3.43% ownership of the company. In it’s prior filing, the firm reported owning 1,552K shares, representing a decrease of 14.90%. The firm decreased its portfolio allocation in SHAK by 1.12% over the last quarter.
Champlain Investment Partners holds 1,290K shares representing 3.27% ownership of the company. In it’s prior filing, the firm reported owning 894K shares, representing an increase of 30.68%. The firm increased its portfolio allocation in SHAK by 189,113.06% over the last quarter.
Shake Shack Background Information
(This description is provided by the company.)
Shake Shack is a modern day ‘roadside’ burger stand serving a classic American menu of premium burgers, chicken sandwiches, hot dogs, crinkle cut fries, shakes, frozen custard, beer and wine. With its fresh, simple, high-quality food at a great value, Shake Shack is a fun and lively community gathering place with widespread appeal. Shake Shack’s mission is to Stand for Something Good®, from its premium ingredients and caring hiring practices to its inspiring designs and deep community investment. Since the original Shack opened in 2004 in NYC’s Madison Square Park, the Company has expanded to approximately 310 locations in 30 U.S. States and the District of Columbia, including more than 105 international locations including London, Hong Kong, Shanghai, Singapore, Philippines, Mexico, Istanbul, Dubai, Tokyo, Seoul and more.
This article originally appeared on Fintel
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