William Blair Increases Earnings Estimates for Shake Shack

Shake Shack Inc. (NYSE:SHAK) – Research analysts at William Blair increased their FY2024 earnings per share (EPS) estimates for Shake Shack in a research report issued on Wednesday, October 30th. William Blair analyst S. Zackfia now expects that the company will post earnings per share of $0.78 for the year, up from their prior forecast of $0.72. The consensus estimate for Shake Shack’s current full-year earnings is $0.79 per share. William Blair also issued estimates for Shake Shack’s FY2025 earnings at $1.10 EPS.

Shake Shack (NYSE:SHAK) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. The firm had revenue of $316.92 million for the quarter, compared to the consensus estimate of $316.03 million. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The company’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period last year, the firm earned $0.17 earnings per share.

SHAK has been the topic of several other reports. Piper Sandler cut Shake Shack from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $121.00 to $114.00 in a report on Monday, August 19th. The Goldman Sachs Group boosted their target price on shares of Shake Shack from $110.00 to $125.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Barclays lifted their target price on Shake Shack from $115.00 to $125.00 and gave the company an “equal weight” rating in a research report on Thursday. Robert W. Baird lifted their target price on shares of Shake Shack from $93.00 to $105.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, TD Cowen reissued a “buy” rating and issued a $125.00 price objective on shares of Shake Shack in a research note on Wednesday, September 18th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $110.00.

Shake Shack Stock Performance

SHAK opened at $124.10 on Friday. Shake Shack has a 52-week low of $54.06 and a 52-week high of $130.20. The firm’s 50-day moving average price is $106.17 and its 200-day moving average price is $98.83. The company has a quick ratio of 2.03, a current ratio of 2.01 and a debt-to-equity ratio of 0.51. The company has a market cap of $5.27 billion, a P/E ratio of 730.00, a price-to-earnings-growth ratio of 3.35 and a beta of 1.81.

Insider Buying and Selling

In related news, Director Daniel Harris Meyer sold 22,691 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $124.47, for a total transaction of $2,824,348.77. Following the sale, the director now owns 437,646 shares in the company, valued at $54,473,797.62. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Katherine Irene Fogertey sold 321 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $103.93, for a total transaction of $33,361.53. Following the sale, the chief financial officer now owns 36,180 shares in the company, valued at $3,760,187.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel Harris Meyer sold 22,691 shares of Shake Shack stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $124.47, for a total value of $2,824,348.77. Following the transaction, the director now directly owns 437,646 shares in the company, valued at approximately $54,473,797.62. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,058 shares of company stock worth $5,161,562. Corporate insiders own 9.73% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Shake Shack in the 1st quarter valued at $25,000. Quest Partners LLC acquired a new stake in Shake Shack during the second quarter valued at approximately $38,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Shake Shack in the 3rd quarter valued at approximately $41,000. Kimelman & Baird LLC bought a new position in shares of Shake Shack during the 2nd quarter worth approximately $45,000. Finally, Covestor Ltd lifted its holdings in shares of Shake Shack by 32,150.0% during the first quarter. Covestor Ltd now owns 645 shares of the company’s stock valued at $67,000 after acquiring an additional 643 shares during the period. Institutional investors own 86.07% of the company’s stock.

About Shake Shack

Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, chicken, hot dogs, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. The company was founded in 2001 and is headquartered in New York, New York.