Shake Shack (SHAK) Receives a Buy from BTIG

BTIG analyst Peter Saleh maintained a Buy rating on Shake Shack (SHAKResearch Report) on January 10 and set a price target of $60.00. The company’s shares closed yesterday at $53.72.

Saleh covers the Services sector, focusing on stocks such as Chipotle, Domino’s Pizza, and Drive Shack. According to TipRanks, Saleh has an average return of 10.9% and a 61.05% success rate on recommended stocks.

Currently, the analyst consensus on Shake Shack is a Hold with an average price target of $50.88.

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Based on Shake Shack’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $227.81 million and a GAAP net loss of $2.02 million. In comparison, last year the company earned a revenue of $193.9 million and had a GAAP net loss of $2.18 million

Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SHAK in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Shake Shack, Inc. is a holding company, which engages in operating fast food hamburger restaurants. It offers beef burgers, flat-top dogs, chicken sandwiches, frozen custard and crinkle cut fries and includes all the mobile ordering essentials. The company was founded by Daniel Harris Meyer on September 23, 2014 and is headquartered in New York, NY.

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