Shake Shack (SHAK) Received its Third Buy in a Row

After Wedbush and Piper Sandler gave Shake Shack (NYSE: SHAK) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Michael Tamas assigned a Buy rating to Shake Shack today and set a price target of $124.00. The company’s shares closed last Wednesday at $99.68.

Tamas has an average return of 12.4% when recommending Shake Shack.

According to TipRanks.com, Tamas is ranked #2036 out of 7551 analysts.

Shake Shack has an analyst consensus of Hold, with a price target consensus of $103.58, which is a 5.0% upside from current levels. In a report issued on June 7, Piper Sandler also maintained a Buy rating on the stock with a $131.00 price target.

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Based on Shake Shack’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $155 million and net profit of $1.31 million. In comparison, last year the company earned revenue of $143 million and had a GAAP net loss of $960K.

Based on the recent corporate insider activity of 68 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.