Shake Shack, Inc. (SHAK) Announces Earnings Results, Beats Expectations By $0.02 EPS
Shake Shack, Inc. (NYSE:SHAK) released its quarterly earnings results on Wednesday. The company reported $0.17 EPS for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.02, Bloomberg Earnings reports. The business had revenue of $94.60 million for the quarter, compared to analyst estimates of $94.17 million. Shake Shack had a return on equity of 8.71% and a net margin of 4.70%. Shake Shack’s revenue for the quarter was up 26.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.15 EPS.
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A number of equities research analysts recently commented on the company. Morgan Stanley increased their price target on Shake Shack from $32.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Thursday. Cowen and Company increased their price target on Shake Shack from $35.00 to $36.00 and gave the stock a “market perform” rating in a research report on Thursday. Barclays PLC increased their price target on Shake Shack from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Thursday. Wedbush restated a “hold” rating and set a $36.00 price target on shares of Shake Shack in a research report on Thursday. Finally, BidaskClub upgraded Shake Shack from a “hold” rating to a “buy” rating in a research report on Thursday, October 26th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $37.44.
In related news, Director Jeffrey Flug sold 39,619 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $31.40, for a total value of $1,244,036.60. Following the sale, the director now owns 4,415 shares of the company’s stock, valued at $138,631. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Randall J. Garutti sold 8,000 shares of the business’s stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $35.62, for a total transaction of $284,960.00. Following the completion of the sale, the chief executive officer now directly owns 18,961 shares in the company, valued at approximately $675,390.82. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 142,452 shares of company stock worth $4,507,321. Insiders own 34.91% 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’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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