Oppenheimer Initiates a Buy Rating on Shake Shack (SHAK)

Shake Shack (SHAKResearch Report) received a Buy rating and a $90.00 price target from Oppenheimer analyst Michael Tamas today. The company’s shares closed last Thursday at $72.56.

According to TipRanks.com, Tamas is ranked #6045 out of 7011 analysts.

Currently, the analyst consensus on Shake Shack is a Moderate Buy with an average price target of $66.09, representing a -4.6% downside. In a report issued on October 19, Wedbush also maintained a Buy rating on the stock with a $77.00 price target.

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Based on Shake Shack’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $91.79 million and GAAP net loss of $16.21 million. In comparison, last year the company earned revenue of $153 million and had a net profit of $9.03 million.

Based on the recent corporate insider activity of 41 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.

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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.