Shake Shack Inc. (NYSE:SHAK) – Analysts at Northcoast Research lifted their FY2021 earnings per share (EPS) estimates for Shake Shack in a research note issued to investors on Tuesday, October 27th. Northcoast Research analyst J. Sanderson now expects that the company will earn $0.10 per share for the year, up from their prior forecast of $0.07.
A number of other equities analysts have also weighed in on SHAK. Credit Suisse Group upped their target price on shares of Shake Shack from $48.00 to $52.00 and gave the stock a “neutral” 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. Piper Sandler increased their price target on shares of Shake Shack from $60.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, September 14th. Oppenheimer started coverage on shares of Shake Shack in a research report on Thursday, October 22nd. They set an “outperform” rating and a $90.00 target price on the stock. Finally, MKM Partners reduced their price target on shares of Shake Shack from $59.00 to $54.00 and set a “neutral” rating on the stock in a research report on Friday, July 10th. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $61.90.
Shares of SHAK stock opened at $68.97 on Wednesday. Shake Shack has a 12-month low of $30.01 and a 12-month high of $85.43. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of -328.43 and a beta of 1.71. The firm has a fifty day moving average of $68.77 and a 200-day moving average of $57.25.
Shake Shack (NYSE:SHAK) last posted its quarterly earnings data on Thursday, October 29th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.10. The firm had revenue of $130.40 million during the quarter, compared to analysts’ expectations of $125.43 million. Shake Shack had a negative net margin of 1.64% and a negative return on equity of 1.40%. Shake Shack’s revenue was down 17.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.26 EPS.
In other news, CFO Tara Comonte sold 2,985 shares of Shake Shack stock in a transaction that occurred on 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 in the company, valued at $3,784,300.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Daniel Harris Meyer sold 1,666 shares of Shake Shack stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $55.06, for a total transaction of $91,729.96. Following the sale, the director now owns 1,364 shares in the company, valued at approximately $75,101.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 354,627 shares of company stock worth $24,068,106. Insiders own 14.98% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Gilder Gagnon Howe & Co. LLC boosted its stake in shares of Shake Shack by 35.7% during the second quarter. Gilder Gagnon Howe & Co. LLC now owns 2,990,065 shares of the company’s stock valued at $158,414,000 after purchasing an additional 787,387 shares during the period. Vanguard Group Inc. boosted its position in Shake Shack by 20.8% in the second quarter. Vanguard Group Inc. now owns 3,743,135 shares of the company’s stock valued at $198,312,000 after buying an additional 644,910 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in Shake Shack in the second quarter valued at approximately $19,086,000. Clearfield Capital Management LP purchased a new stake in Shake Shack in the second quarter valued at approximately $18,124,000. Finally, Point72 Asset Management L.P. purchased a new stake in Shake Shack in the 2nd quarter worth approximately $14,730,000. Institutional investors own 92.25% of the company’s stock.
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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