Shake Shack skids as more of its shares reach market

Jefferies Group raised their price target on Shake Shack from $40.00 to $60.00 and gave the company a “hold” rating in a report on Thursday, May 14th. Shake Shack has a 12 month low of $38.63 and a 12 month high of $96.75. Shake Shack now has an average rating of Hold and a consensus target price of $47.15. The 52 week range of the stock remained $67.78 – $91.34, while its day’s lowest price was $79.68 and its hit its day’s highest price at $81.67. The company’s market cap is $667.17 million.

Alamos Gold (NYSE:AGI) was upgraded by investment analysts at Howard Weil from a “sector perform” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday, StockTargetPrices.com reports. Shake Shack Inc. (NYSE:SHAK) showed a weekly performance of -6.07%. The firm has a 50-day moving average price of $59.25 and a 200-day moving average price of $58.92.

Shake Shack, known for its indulgent hormone- and antibiotic-free burgers and sides, on Monday reported stronger-than-expected quarterly profit and sales.

The company reports a loss of $0.19 per share, beating the analyst estimate of a loss of $0.22 per share.

Shake Shack locations averaged $102,000 per week in the second quarter an their labor costs were 24 percent of that. Not only that, CEO Elon Musk is buying $20 million worth of shares, showing a commitment missing from the folks at Shake Shack.

According to Zacks, “Shake Shack Inc.is engaged in owning and operating restaurants”.

New York-based Shake Shack offers hamburgers, hot dogs, crinkle-cut fries, shakes, frozen custard, beer, and wine. The Company holds 33.3% ownership interest in SSE Holdings. As of December 31, 2014, the Company had 31 company-operated Shacks in operation in the United States.

“As we look at minimum wages, we are going to stay proactive with our compensation practices, recruiting and with the development of our team”, Shake Shack CFO Jeff Uttz said during the company’s second-quarter earnings call Monday. As of December 31, 2014, 32 licensed Shacks were in operation under license agreements in North America, Europe and Asia.