Morgan Stanley Maintains a Hold Rating on Shake Shack (SHAK)
In a report released today, John Glass from Morgan Stanley maintained a Hold rating on Shake Shack (SHAK), with a price target of $41.00. The company’s shares closed last Monday at $45.19.
According to TipRanks.com, Glass is a 5-star analyst with an average return of 7.7% and a 58.5% success rate. Glass covers the Services sector, focusing on stocks such as Restaurant Brands International, Cheesecake Factory, and BJ’s Restaurants.
The word on The Street in general, suggests a Hold analyst consensus rating for Shake Shack with a $59.25 average price target, implying a 33.4% upside from current levels. In a report issued on March 20, Goldman Sachs also downgraded the stock to Hold with a $40.00 price target.
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Shake Shack’s market cap is currently $1.66B and has a P/E ratio of 60.80. The company has a Price to Book ratio of 4.51.
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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.