Wedbush Upgrades Shake Shack Inc to Neutral with Price Target $33

Brokerage firm Wedbush Upgrades its rating on Shake Shack Inc(SHAK). As per the latest information, Wedbush Raises the price target to $33 per share from a prior target of $30. The shares have been rated Neutral. Previously, the analysts had a Underperform rating on the shares. The rating by the stock financial advisor at Wedbush was issued on Mar 20, 2017 in a research report to their Investors and Clients.

Shake Shack Inc (SHAK) shares turned negative on Wednesdays trading session with the shares closing down -0.08 points or -0.25% at a volume of 3,63,208. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $32.2. The peak price level was also seen at $32.2 while the days lowest was $31.68. Finally the shares closed at $32.02. The 52-week high of the shares is $42.94 while the 52-week low is $30.36. According to the latest information available, the market cap of the company is $1,166 M.

Shake Shack Inc(SHAK) last announced its earnings results on Mar 1, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $73.271M. Analysts had an estimated revenue of $70.680M. Earnings per share were $0.09. Analysts had estimated an EPS of $0.09.

Several Insider Transactions has been reported to the SEC. On Mar 10, 2017, Zach Koff (Chief Operating Officer) sold 2,000 shares at $31.96 per share price.Also, On Mar 7, 2017, Jeffrey J Uttz (Chief Financial Officer) sold 138,000 shares at $33.03 per share price.On Mar 1, 2017, Randall J Garutti (director officer 10% owner (Chief Executive Offic) sold 8,000 shares at $36.55 per share price, according to the Form-4 filing with the securities and exchange commission.

Shake Shack Inc. (Shake Shack) is a holding company with no direct operations and its principal asset is the equity interest in SSE Holdings LLC (SSE Holdings). The Company holds 33.3% ownership interest in SSE Holdings. SSE Holdings operates and licenses restaurants in the global restaurant industry serving hamburgers hot dogs crinkle-cut fries shakes frozen custard beer and wine. As of December 31 2014 the Company had 63 Shake Shack restaurants (Shacks) in nine countries and 34 cities. The Company owns and operates Shacks in 10 states and the District of Columbia. As of December 31 2014 the Company had 31 company-operated Shacks in operation in the United States. The Company also has license arrangements with affiliated and unaffiliated operators to develop and operate Shacks. As of December 31 2014 32 licensed Shacks were in operation under license agreements in North America Europe and Asia.

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