Is Shake Shack a Buy Despite Northcoast Downgrade?

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However, the stock has declined 31.5% in price over the past nine months and 6.4% over the past three months. Furthermore, closing yesterday’s trading session at $83.77, the stock is currently trading 39.5% below its 52-week high of $138.38, which it hit on January 27, 2021, indicating bearishness.

Also, following the company’s failure to meet the consensus sales estimate in its recently released third-quarter results, and lower-than-expected projections, Northcoast Research downgraded the stock to Neutral from Buy yesterday, which contributed to a 7.8% price decline.

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