William Blair Increases Earnings Estimates for Shake Shack

Shake Shack Inc. (NYSE:SHAK) – Equities researchers at William Blair boosted their FY2024 earnings per share estimates for Shake Shack in a research note issued to investors on Wednesday, October 23rd. William Blair analyst S. Zackfia now anticipates that the company will post earnings per share of $0.72 for the year, up from their previous estimate of $0.69. The consensus estimate for Shake Shack’s current full-year earnings is $0.74 per share.

A number of other research firms have also weighed in on SHAK. JPMorgan Chase & Co. restated an “underweight” rating and set a $102.00 target price (down previously from $105.00) on shares of Shake Shack in a report on Tuesday, September 24th. Bank of America raised their price objective on Shake Shack from $104.00 to $116.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Piper Sandler lowered Shake Shack from an “overweight” rating to a “neutral” rating and cut their target price for the company from $121.00 to $114.00 in a research note on Monday, August 19th. Capital One Financial started coverage on shares of Shake Shack in a research report on Monday, July 29th. They set an “overweight” rating and a $95.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $115.00 price objective on shares of Shake Shack in a research report on Wednesday, August 28th. Two analysts have rated the stock with a sell rating, ten have issued 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 stock presently has a consensus rating of “Hold” and an average target price of $107.67.

Shake Shack Price Performance

NYSE SHAK opened at $110.45 on Monday. The company has a market cap of $4.67 billion, a PE ratio of 200.82, a P/E/G ratio of 3.21 and a beta of 1.83. The firm’s 50 day moving average price is $104.82 and its 200-day moving average price is $98.10. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.03 and a current ratio of 2.06. Shake Shack has a 52-week low of $54.06 and a 52-week high of $113.50.

Shake Shack (NYSE:SHAK) last issued its earnings results on Thursday, August 1st. The company reported $0.27 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.27. The company had revenue of $316.50 million for the quarter, compared to analysts’ expectations of $314.37 million. Shake Shack had a net margin of 2.23% and a return on equity of 5.63%. The firm’s quarterly revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.18 EPS.

Insider Activity at Shake Shack

In other Shake Shack news, Director Daniel Harris Meyer sold 10,000 shares of Shake Shack stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $110.24, for a total transaction of $1,102,400.00. Following the completion of the sale, the director now owns 470,437 shares of the company’s stock, valued at approximately $51,860,974.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Daniel Harris Meyer sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $110.24, for a total value of $1,102,400.00. Following the transaction, the director now owns 470,437 shares in the company, valued at approximately $51,860,974.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey Flug sold 304 shares of Shake Shack stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $90.39, for a total transaction of $27,478.56. Following the sale, the director now owns 3,347 shares of the company’s stock, valued at approximately $302,535.33. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,330 shares of company stock valued at $2,429,690 in the last ninety days. Company insiders own 9.73% of the company’s stock.

Hedge Funds Weigh In On Shake Shack

A number of institutional investors have recently modified their holdings of SHAK. Allspring Global Investments Holdings LLC acquired a new position in shares of Shake Shack in the 1st quarter valued at $25,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in Shake Shack in the third quarter valued at $41,000. Quest Partners LLC acquired a new position in shares of Shake Shack in the second quarter worth about $38,000. Kimelman & Baird LLC purchased a new stake in shares of Shake Shack during the 2nd quarter worth about $45,000. Finally, Covestor Ltd boosted its stake in shares of Shake Shack by 32,150.0% during the 1st quarter. Covestor Ltd now owns 645 shares of the company’s stock worth $67,000 after acquiring an additional 643 shares in the last quarter. Hedge funds and other 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.