Shake Shack Inc. (NYSE:SHAK) – Equities researchers at Oppenheimer reduced their Q2 2021 EPS estimates for shares of Shake Shack in a research note issued on Wednesday, January 13th. Oppenheimer analyst M. Tamas now forecasts that the company will post earnings of $0.09 per share for the quarter, down from their previous forecast of $0.10. Oppenheimer has a “Buy” rating and a $115.00 price objective on the stock. Oppenheimer also issued estimates for Shake Shack’s Q3 2021 earnings at $0.18 EPS, Q4 2021 earnings at $0.09 EPS, FY2021 earnings at $0.28 EPS and FY2022 earnings at $0.82 EPS.
A number of other analysts also recently weighed in on the stock. TheStreet raised shares of Shake Shack from a “d+” rating to a “c-” rating in a research report on Thursday, November 19th. Stifel Nicolaus lifted their target price on Shake Shack from $45.00 to $65.00 and gave the stock a “hold” rating in a research report on Friday, October 30th. BidaskClub downgraded Shake Shack from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 31st. Deutsche Bank Aktiengesellschaft lifted their price objective on Shake Shack from $55.00 to $70.00 and gave the company a “buy” rating in a report on Monday, November 2nd. Finally, Cowen lifted their price objective on Shake Shack from $62.00 to $83.00 and gave the company a “market perform” rating in a report on Monday, December 14th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the stock. Shake Shack has an average rating of “Hold” and an average target price of $70.16.
Shake Shack (NYSE:SHAK) last posted its quarterly earnings results on Thursday, October 29th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.10. The business had revenue of $130.40 million during the quarter, compared to analysts’ expectations of $125.43 million. Shake Shack had a negative net margin of 1.64% and a negative return on equity of 1.40%. The business’s quarterly revenue was down 17.5% on a year-over-year basis. During the same period last year, the company posted $0.26 earnings per share.
Several institutional investors have recently added to or reduced their stakes in the company. CWM LLC purchased a new stake in shares of Shake Shack during the third quarter worth about $36,000. Prospera Financial Services Inc acquired a new stake in shares of Shake Shack during the 3rd quarter worth approximately $62,000. HM Payson & Co. bought a new stake in shares of Shake Shack during the 3rd quarter worth $71,000. Exane Derivatives purchased a new stake in shares of Shake Shack in the third quarter valued at $80,000. Finally, Strs Ohio grew its stake in Shake Shack by 133.3% in the 3rd quarter. Strs Ohio now owns 2,100 shares of the company’s stock valued at $135,000 after buying an additional 1,200 shares during the last quarter. Hedge funds and other institutional investors own 92.25% of the company’s stock.
In other news, Director Daniel Harris Meyer sold 75,000 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $65.14, for a total value of $4,885,500.00. Following the sale, the director now owns 1,364 shares of the company’s stock, valued at $88,850.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Randall J. Garutti sold 13,596 shares of the company’s stock in a transaction on Friday, October 23rd. The shares were sold at an average price of $75.04, for a total transaction of $1,020,243.84. Following the completion of the sale, the chief executive officer now directly owns 65,487 shares of the company’s stock, valued at approximately $4,914,144.48. The disclosure for this sale can be found here. In the last three months, insiders sold 440,756 shares of company stock valued at $34,137,582. 14.98% of the stock is owned by 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.
Further Reading: Initial Public Offering (IPO)
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