Stock that got Upgrade: Shake Shack Inc (SHAK)

Shake Shack Inc (NYSE:SHAK) received a stock rating upgrade from Longbow on Mar-30-16. In a note to investors, the firm issued a Buy rating and also issued the target price on the stock of $46. The analysts previously had a Neutral rating on the stock.

Analysts have a consensus target price of $ 38.86 in the 12-month period. The price objective is 8.64% higher than the recent closing price of $ 35.77. The 52-week price range is $ 30.00 – 96.75 and the company has a market capitalization of $ 1.30B. Analysts covering the shares maintain a consensus Buy rating, according to Zacks Investment Research. 1 analyst has rated the stock with a sell rating, 5 has assigned a hold rating, zero says it’s a buy, and 1 have assigned a strong buy rating to the company.

Shake Shack Inc (SHAK) on March 10, 2016 announced that it has filed a Post-Effective Amendment No. 1 to Form S-1 on Form S-3 (the “Registration Statement”) with the United States Securities and Exchange Commission (“SEC”). On October 8, 2015, the Company filed with the SEC a Registration Statement on Form S-1 (No. 333-207336), which was amended by Pre-Effective Amendment No. 1, filed on November 9, 2015, and declared effective by the SEC on November 12, 2015 (as amended, the “Form S-1”). The Form S-1 was filed to register the resale from time to time by the selling stockholders identified therein of shares of the Company’s Class A common stock, par value $0.001 per share.

This Registration Statement is an administrative filing and is being filed to convert Form S-1 into a Registration Statement on Form S-3. No additional shares are being registered or offered under the Registration Statement.

Although the Registration Statement relating to these securities has been filed with the SEC, it has not yet become effective.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws or any such state or jurisdiction.

Shake Shack Inc. owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States, the District of Columbia, North America, Europe, and Asia. Shacks offers hamburgers, hot dogs, crinkle-cut fries, shakes, frozen custard, beer, and wine. As of December 31, 2014, it had 63 Shacks, including 31 domestic company-operated Shacks, 5 domestic licensed Shacks, and 27 international licensed Shacks. The company was founded in 2004 and is based in New York, New York.

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