FY2024 EPS Estimates for Shake Shack Lifted by William Blair

Shake Shack Inc. (NYSE:SHAK) – Investment analysts at William Blair lifted their FY2024 earnings estimates for shares of Shake Shack in a research note issued on Wednesday, October 30th. William Blair analyst S. Zackfia now forecasts that the company will earn $0.78 per share for the year, up from their previous estimate of $0.72. The consensus estimate for Shake Shack’s current full-year earnings is $0.74 per share. William Blair also issued estimates for Shake Shack’s FY2025 earnings at $1.10 EPS.

Other equities research analysts have also recently issued research reports about the stock. Bank of America increased their target price on shares of 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 shares of Shake Shack from an “overweight” rating to a “neutral” rating and cut their price target for the company from $121.00 to $114.00 in a research note on Monday, August 19th. TD Cowen restated a “buy” rating and set a $125.00 price target on shares of Shake Shack in a research note on Wednesday, September 18th. Barclays upped their price target on shares of Shake Shack from $115.00 to $125.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, Morgan Stanley cut their price target on shares of Shake Shack from $108.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $110.00.

Shake Shack Trading Up 2.0 %

NYSE: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 has a 50 day moving average of $105.87 and a 200 day moving average of $98.65. 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 stock has a market capitalization of $5.27 billion, a price-to-earnings ratio of 728.76, a PEG ratio of 3.58 and a beta of 1.83.

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

Insider Activity at Shake Shack

In related news, CFO Katherine Irene Fogertey sold 321 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $95.10, for a total transaction of $30,527.10. Following the sale, the chief financial officer now owns 37,143 shares in the company, valued at approximately $3,532,299.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Shake Shack news, Director Jeffrey Flug sold 304 shares of the stock in a transaction 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 transaction, the director now directly owns 3,347 shares of the company’s stock, valued at $302,535.33. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Katherine Irene Fogertey sold 321 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $95.10, for a total transaction of $30,527.10. Following the transaction, the chief financial officer now directly owns 37,143 shares in the company, valued at approximately $3,532,299.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,058 shares of company stock worth $5,161,562. 9.73% of the stock is owned by company insiders.

Hedge Funds Weigh In On Shake Shack

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its holdings in Shake Shack by 1.1% during the third quarter. Principal Financial Group Inc. now owns 189,229 shares of the company’s stock valued at $19,530,000 after purchasing an additional 2,043 shares in the last quarter. Radnor Capital Management LLC purchased a new position in Shake Shack during the third quarter valued at $320,000. Amalgamated Bank lifted its stake in shares of Shake Shack by 1.8% in the third quarter. Amalgamated Bank now owns 11,721 shares of the company’s stock worth $1,210,000 after buying an additional 211 shares in the last quarter. QRG Capital Management Inc. lifted its stake in shares of Shake Shack by 14.9% in the third quarter. QRG Capital Management Inc. now owns 3,997 shares of the company’s stock worth $413,000 after buying an additional 519 shares in the last quarter. Finally, New York State Teachers Retirement System lifted its stake in shares of Shake Shack by 1.7% in the third quarter. New York State Teachers Retirement System now owns 39,025 shares of the company’s stock worth $4,028,000 after buying an additional 650 shares in the last quarter. 86.07% of the stock is owned by hedge funds and other institutional investors.

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, 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.