Shake Shack Inc (NYSE:SHAK) – SunTrust Banks decreased their Q4 2018 earnings per share (EPS) estimates for Shake Shack in a report released on Thursday, November 1st. SunTrust Banks analyst J. Bartlett now forecasts that the company will earn ($0.01) per share for the quarter, down from their previous forecast of $0.01. SunTrust Banks currently has a “Buy” rating and a $60.00 target price on the stock. SunTrust Banks also issued estimates for Shake Shack’s FY2019 earnings at $0.64 EPS and FY2020 earnings at $0.84 EPS.
A number of other brokerages have also recently issued reports on SHAK. Zacks Investment Research raised shares of Shake Shack from a “sell” rating to a “hold” rating in a research note on Tuesday, July 17th. Cowen reaffirmed a “hold” rating and set a $59.00 target price on shares of Shake Shack in a research note on Wednesday, July 25th. Morgan Stanley boosted their target price on shares of Shake Shack from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, July 16th. Wedbush reaffirmed a “hold” rating and set a $62.00 target price on shares of Shake Shack in a research note on Friday, August 3rd. Finally, Stifel Nicolaus initiated coverage on shares of Shake Shack in a research note on Tuesday, October 9th. They set a “hold” rating and a $65.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Shake Shack presently has an average rating of “Hold” and a consensus price target of $53.90.
Shares of NYSE:SHAK opened at $47.45 on Monday. The company has a market capitalization of $1.75 billion, a P/E ratio of 83.19, a PEG ratio of 3.27 and a beta of 1.36. Shake Shack has a 1 year low of $35.96 and a 1 year high of $70.12.
Shake Shack (NYSE:SHAK) last announced its quarterly earnings data on Thursday, November 1st. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.08. The business had revenue of $119.65 million for the quarter, compared to analysts’ expectations of $116.81 million. Shake Shack had a net margin of 0.40% and a return on equity of 11.02%. The firm’s quarterly revenue was up 26.5% compared to the same quarter last year. During the same period last year, the firm posted $0.17 earnings per share.
Institutional investors have recently modified their holdings of the stock. Rehmann Capital Advisory Group bought a new stake in shares of Shake Shack in the second quarter worth $124,000. Advisors Asset Management Inc. grew its stake in shares of Shake Shack by 2,263.0% in the second quarter. Advisors Asset Management Inc. now owns 50,214 shares of the company’s stock worth $212,000 after purchasing an additional 48,089 shares during the last quarter. HM Payson & Co. bought a new stake in shares of Shake Shack in the second quarter worth $249,000. Pinebridge Investments L.P. bought a new stake in shares of Shake Shack in the second quarter worth $250,000. Finally, Amalgamated Bank bought a new stake in shares of Shake Shack in the second quarter worth $261,000. 87.50% of the stock is currently owned by institutional investors.
In related news, Director Jonathan D. Sokoloff sold 500,000 shares of the business’s stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $57.15, for a total value of $28,575,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Equity Group L.P. Select sold 57,404 shares of the business’s stock in a transaction on Tuesday, October 23rd. The stock was sold at an average price of $53.56, for a total transaction of $3,074,558.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,284,560 shares of company stock worth $74,700,300. Insiders own 30.18% 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 October 9, 2018, it operated 180 locations in 26 U.S.
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