Shake Shack Inc (NYSE:SHAK) – Piper Sandler upped their Q1 2021 earnings estimates for Shake Shack in a research report issued to clients and investors on Sunday, September 13th. Piper Sandler analyst N. Regan now expects that the company will post earnings of $0.06 per share for the quarter, up from their prior estimate of $0.04. Piper Sandler currently has a “Overweight” rating and a $78.00 target price on the stock.
Several other brokerages have also issued reports on SHAK. MKM Partners reduced their price objective on shares of Shake Shack from $59.00 to $54.00 and set a “neutral” rating on the stock in a report on Friday, July 10th. William Blair restated a “buy” rating on shares of Shake Shack in a report on Tuesday, June 2nd. Wedbush upgraded shares of Shake Shack from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $53.00 to $77.00 in a report on Thursday, August 20th. Credit Suisse Group boosted their price objective on shares of Shake Shack from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, July 31st. Finally, TheStreet lowered shares of Shake Shack from a “c-” rating to a “d+” rating in a report on Tuesday, August 11th. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $57.94.
NYSE SHAK opened at $71.32 on Tuesday. Shake Shack has a 52 week low of $30.01 and a 52 week high of $104.86. The business’s fifty day simple moving average is $59.05 and its 200-day simple moving average is $51.69. The firm has a market cap of $2.95 billion, a PE ratio of -339.62 and a beta of 1.72.
Shake Shack (NYSE:SHAK) last posted its quarterly earnings results on Thursday, July 30th. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.08). Shake Shack had a negative return on equity of 1.40% and a negative net margin of 1.64%. The company had revenue of $91.79 million for the quarter, compared to analysts’ expectations of $93.29 million.
Several institutional investors have recently added to or reduced their stakes in the company. Magnus Financial Group LLC raised its stake in shares of Shake Shack by 3.6% during the second quarter. Magnus Financial Group LLC now owns 7,393 shares of the company’s stock worth $392,000 after purchasing an additional 256 shares during the last quarter. Mutual of America Capital Management LLC raised its stake in shares of Shake Shack by 25.3% during the first quarter. Mutual of America Capital Management LLC now owns 1,382 shares of the company’s stock worth $52,000 after purchasing an additional 279 shares during the last quarter. Amalgamated Bank grew its holdings in Shake Shack by 10.1% during the second quarter. Amalgamated Bank now owns 5,924 shares of the company’s stock worth $314,000 after acquiring an additional 542 shares during the period. Ameritas Investment Partners Inc. grew its holdings in Shake Shack by 21.6% during the second quarter. Ameritas Investment Partners Inc. now owns 3,100 shares of the company’s stock worth $164,000 after acquiring an additional 551 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Shake Shack by 18.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,865 shares of the company’s stock worth $205,000 after acquiring an additional 605 shares during the period. Institutional investors and hedge funds own 92.25% of the company’s stock.
In other news, CFO Tara Comonte sold 2,985 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $70.02, for a total transaction of $209,009.70. Following the completion of 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 Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel Harris Meyer sold 1,666 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $55.06, for a total value of $91,729.96. Following the sale, the director now owns 1,364 shares of the company’s stock, valued at approximately $75,101.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 161,942 shares of company stock valued at $10,357,726. 14.98% of the stock is owned by company insiders.
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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