Shake Shack Inc (NYSE:SHAK) – Analysts at Piper Sandler increased their Q3 2021 earnings estimates for shares of Shake Shack in a research report issued on Sunday, September 13th. Piper Sandler analyst N. Regan now expects that the company will earn $0.03 per share for the quarter, up from their previous estimate of $0.02. Piper Sandler has a “Overweight” rating and a $78.00 price target on the stock. Piper Sandler also issued estimates for Shake Shack’s Q4 2021 earnings at $0.02 EPS, FY2021 earnings at $0.23 EPS and FY2022 earnings at $0.62 EPS.
Other equities analysts also recently issued research reports about the stock. Credit Suisse Group increased their price objective on shares of Shake Shack from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, July 31st. Jefferies Financial Group lifted their target price on shares of Shake Shack from $45.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday, July 31st. Zacks Investment Research cut shares of Shake Shack from a “hold” rating to a “sell” rating in a report on Tuesday, August 4th. Wedbush upgraded shares of Shake Shack from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $53.00 to $77.00 in a report on Thursday, August 20th. Finally, William Blair reiterated a “buy” rating on shares of Shake Shack in a report on Tuesday, June 2nd. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $57.94.
NYSE SHAK opened at $71.32 on Wednesday. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of -339.62 and a beta of 1.72. The firm’s 50 day simple moving average is $59.05 and its 200 day simple moving average is $51.69. Shake Shack has a 1 year low of $30.01 and a 1 year high of $104.86.
Shake Shack (NYSE:SHAK) last released its quarterly earnings results on Thursday, July 30th. The company reported ($0.45) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.37) by ($0.08). The company had revenue of $91.79 million during the quarter, compared to the consensus estimate of $93.29 million. Shake Shack had a negative net margin of 1.64% and a negative return on equity of 1.40%.
In other news, CFO Tara Comonte sold 2,985 shares of the firm’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $70.02, for a total transaction of $209,009.70. Following the sale, the chief financial officer now owns 54,046 shares of the company’s stock, valued at approximately $3,784,300.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel Harris Meyer sold 23,334 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $55.03, for a total transaction of $1,284,070.02. Following the sale, the director now directly owns 1,364 shares in the company, valued at approximately $75,060.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 161,942 shares of company stock worth $10,357,726. Insiders own 14.98% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in SHAK. Eminence Capital LP boosted its holdings in shares of Shake Shack by 137.9% during the 1st quarter. Eminence Capital LP now owns 2,592,957 shares of the company’s stock valued at $97,858,000 after acquiring an additional 1,502,957 shares during the last quarter. Gilder Gagnon Howe & Co. LLC lifted its stake in shares of Shake Shack by 35.7% in the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 2,990,065 shares of the company’s stock worth $158,414,000 after purchasing an additional 787,387 shares during the period. Lord Abbett & CO. LLC lifted its stake in shares of Shake Shack by 51.2% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,962,436 shares of the company’s stock worth $74,063,000 after purchasing an additional 664,733 shares during the period. Vanguard Group Inc. lifted its stake in shares of Shake Shack by 20.8% in the 2nd quarter. Vanguard Group Inc. now owns 3,743,135 shares of the company’s stock worth $198,312,000 after purchasing an additional 644,910 shares during the period. Finally, Darsana Capital Partners LP bought a new position in shares of Shake Shack in the 1st quarter worth approximately $18,870,000. 92.25% of the stock is currently owned by hedge funds and other institutional investors.
Shake Shack Company Profile
Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, hot dogs, chicken, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. As of December 26, 2018, it operated 208 Shacks, including 124 domestic company-operated Shacks, 12 domestic licensed Shacks, and 72 international licensed Shacks.
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