Shake Shack Inc (NYSE:SHAK) – Equities research analysts at SunTrust Banks raised their Q2 2018 earnings per share estimates for shares of Shake Shack in a research note issued to investors on Tuesday. SunTrust Banks analyst J. Bartlett now expects that the company will post earnings per share of $0.24 for the quarter, up from their prior estimate of $0.19. SunTrust Banks has a “Buy” rating and a $50.00 price objective on the stock. SunTrust Banks also issued estimates for Shake Shack’s Q3 2018 earnings at $0.23 EPS, Q4 2018 earnings at $0.08 EPS and FY2018 earnings at $0.68 EPS.
Several other research firms have also recently weighed in on SHAK. Jefferies Group cut Shake Shack from a “hold” rating to an “underperform” rating and set a $36.00 price objective for the company. in a research report on Friday, December 22nd. Cowen boosted their price objective on Shake Shack from $36.00 to $42.00 and gave the stock a “market perform” rating in a research report on Tuesday, December 19th. Morgan Stanley raised Shake Shack from an “underweight” rating to an “equal weight” rating and cut their price objective for the stock from $43.04 to $34.00 in a research report on Thursday, December 7th. BidaskClub raised Shake Shack from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 14th. Finally, Barclays boosted their price objective on Shake Shack from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. Shake Shack has a consensus rating of “Hold” and an average target price of $37.76.
Shake Shack (NYSE:SHAK) last issued its earnings results on Wednesday, November 1st. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. The firm had revenue of $94.60 million for the quarter, compared to the consensus estimate of $94.17 million. Shake Shack had a return on equity of 9.42% and a net margin of 4.78%. The business’s quarterly revenue was up 26.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 earnings per share.
In other news, CEO Randall J. Garutti sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $35.62, for a total value of $284,960.00. Following the sale, the chief executive officer now directly owns 18,961 shares in the company, valued at approximately $675,390.82. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Daniel Harris Meyer sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $43.79, for a total value of $4,379,000.00. Following the completion of the sale, the director now owns 642 shares in the company, valued at $28,113.18. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,006,461 shares of company stock valued at $41,396,489. Insiders own 34.91% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in SHAK. Fred Alger Management Inc. grew its stake in shares of Shake Shack by 163.8% in the 2nd quarter. Fred Alger Management Inc. now owns 592,963 shares of the company’s stock valued at $20,683,000 after purchasing an additional 368,185 shares during the period. Lord Abbett & CO. LLC grew its stake in shares of Shake Shack by 101.3% in the 2nd quarter. Lord Abbett & CO. LLC now owns 706,704 shares of the company’s stock valued at $24,650,000 after purchasing an additional 355,674 shares during the period. UBS Asset Management Americas Inc. bought a new stake in shares of Shake Shack in the 2nd quarter valued at approximately $8,681,000. Balyasny Asset Management LLC grew its position in Shake Shack by 77.7% during the 2nd quarter. Balyasny Asset Management LLC now owns 539,181 shares of the company’s stock worth $18,807,000 after acquiring an additional 235,681 shares during the last quarter. Finally, UBS Oconnor LLC bought a new stake in Shake Shack during the 2nd quarter worth approximately $5,525,000. Institutional investors own 83.16% 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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