Shake Shack Inc (NYSE:SHAK) – Piper Jaffray Companies upped their FY2021 earnings per share estimates for shares of Shake Shack in a research note issued to investors on Sunday, July 14th. Piper Jaffray Companies analyst N. Regan now expects that the company will earn $0.91 per share for the year, up from their prior estimate of $0.87. Piper Jaffray Companies has a “Overweight” rating and a $86.00 price target on the stock.
Shake Shack (NYSE:SHAK) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.13 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.13. Shake Shack had a return on equity of 9.64% and a net margin of 2.88%. The business had revenue of $132.60 million for the quarter, compared to analysts’ expectations of $127.23 million. During the same period in the previous year, the business posted $0.15 EPS. The firm’s quarterly revenue was up 33.7% compared to the same quarter last year.
Several other research analysts have also commented on SHAK. Credit Suisse Group started coverage on Arco Platform in a report on Tuesday, June 25th. They set a “neutral” rating for the company. Stifel Nicolaus set a $95.00 price objective on C.H. Robinson Worldwide and gave the stock a “buy” rating in a report on Friday, May 3rd. ValuEngine raised Zuora from a “hold” rating to a “buy” rating in a report on Saturday, July 6th. SunTrust Banks boosted their price objective on Paylocity to $108.00 and gave the stock a “positive” rating in a report on Friday, May 3rd. Finally, Zacks Investment Research raised HB Fuller from a “sell” rating to a “hold” rating in a report on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $60.44.
Shares of Shake Shack stock opened at $73.93 on Wednesday. Shake Shack has a 52-week low of $40.67 and a 52-week high of $76.49. The firm has a 50-day moving average price of $68.30. The company has a market cap of $2.73 billion, a PE ratio of 104.13, a P/E/G ratio of 5.59 and a beta of 1.41. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.94.
A number of hedge funds have recently made changes to their positions in the business. FMR LLC lifted its position in Shake Shack by 13.0% in the first quarter. FMR LLC now owns 1,203,667 shares of the company’s stock valued at $71,197,000 after purchasing an additional 138,218 shares during the last quarter. Macquarie Group Ltd. raised its holdings in shares of Shake Shack by 63.4% during the fourth quarter. Macquarie Group Ltd. now owns 1,014,914 shares of the company’s stock valued at $46,097,000 after acquiring an additional 393,710 shares in the last quarter. Zevenbergen Capital Investments LLC raised its holdings in shares of Shake Shack by 8.5% during the first quarter. Zevenbergen Capital Investments LLC now owns 823,505 shares of the company’s stock valued at $48,711,000 after acquiring an additional 64,385 shares in the last quarter. Wasatch Advisors Inc. raised its holdings in shares of Shake Shack by 1.8% during the first quarter. Wasatch Advisors Inc. now owns 763,267 shares of the company’s stock valued at $45,147,000 after acquiring an additional 13,797 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Shake Shack by 51.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 417,461 shares of the company’s stock valued at $18,960,000 after acquiring an additional 141,498 shares in the last quarter. Hedge funds and other institutional investors own 84.37% of the company’s stock.
In other Shake Shack news, Director Daniel Harris Meyer sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $60.11, for a total value of $60,110.00. Following the completion of the sale, the director now owns 1,032 shares of the company’s stock, valued at $62,033.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Randall J. Garutti sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $61.10, for a total value of $916,500.00. Following the completion of the sale, the chief executive officer now owns 38,555 shares of the company’s stock, valued at approximately $2,355,710.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,176,979 shares of company stock valued at $77,618,060. 21.85% of the stock is owned by insiders.
About Shake Shack
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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