Several other analysts have also issued reports on the company. Buckingham Research reissued a buy rating and set a $45.00 price target on shares of Shake Shack in a report on Saturday, August 13th. Vetr raised Shake Shack from a buy rating to a strong-buy rating and set a $39.64 price objective for the company in a research note on Monday, September 5th. Zacks Investment Research raised Shake Shack from a hold rating to a buy rating and set a $46.00 price objective for the company in a research note on Saturday, July 23rd. Finally, Wedbush assumed coverage on Shake Shack in a research note on Wednesday, July 6th. They issued an underperform rating and a $30.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $40.56.
Shake Shack (NYSE:SHAK) opened at 34.45 on Wednesday. The stock has a market capitalization of $825.18 million, a PE ratio of 85.06 and a beta of 1.15. Shake Shack has a 52 week low of $30.00 and a 52 week high of $53.50. The firm has a 50-day moving average price of $35.34 and a 200-day moving average price of $36.52.
Shake Shack (NYSE:SHAK) last released its quarterly earnings results on Wednesday, August 10th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.01. Shake Shack had a return on equity of 8.09% and a net margin of 3.35%. The business earned $66.50 million during the quarter, compared to analyst estimates of $63.07 million. During the same quarter in the previous year, the company posted $0.09 earnings per share. Shake Shack’s revenue for the quarter was up 37.1% on a year-over-year basis. Equities research analysts predict that Shake Shack will post $0.45 EPS for the current fiscal year.
In other news, major shareholder Laura J. Sloate sold 5,000 shares of the stock in a transaction that occurred on Friday, September 23rd. The stock was sold at an average price of $35.24, for a total value of $176,200.00. Following the sale, the insider now directly owns 26,000 shares in the company, valued at $916,240. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Laura J. Sloate sold 2,500 shares of the stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $42.35, for a total value of $105,875.00. Following the completion of the sale, the insider now owns 10,000 shares in the company, valued at $423,500. The disclosure for this sale can be found here. Company insiders own 44.69% of the company’s stock.
Several large investors have recently modified their holdings of the company. USA Mutuals Advisors Inc. acquired a new stake in shares of Shake Shack during the second quarter valued at $182,000. Wealthsource Partners LLC acquired a new stake in shares of Shake Shack during the first quarter valued at $219,000. UBS Asset Management Americas Inc. increased its stake in shares of Shake Shack by 5.3% in the second quarter. UBS Asset Management Americas Inc. now owns 6,000 shares of the company’s stock valued at $219,000 after buying an additional 300 shares during the last quarter. BlackRock Advisors LLC increased its stake in shares of Shake Shack by 121.1% in the second quarter. BlackRock Advisors LLC now owns 6,245 shares of the company’s stock valued at $228,000 after buying an additional 3,420 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in shares of Shake Shack during the second quarter valued at $289,000. Hedge funds and other institutional investors own 93.41% of the company’s stock.
Shake Shack Company Profile
Shake Shack Inc operates roadside burger stands. The Company serves an American menu of burgers, hot dogs, crispy chicken, frozen custard, crinkle cut fries, shakes, beer and wine, among others. The Company has approximately 84 Shacks in over 10 countries and approximately 45 cities. The Company’s signature items are its all-natural, hormone and antibiotic-free burgers, hot dogs, crispy chicken, crinkle cut fries, shakes and frozen custard.
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