Zacks Research Raises Earnings Estimates for Shake Shack

Shake Shack Inc. (NYSE:SHAK) – Zacks Research increased their FY2024 earnings estimates for Shake Shack in a report issued on Wednesday, January 8th. Zacks Research analyst H. Ray now forecasts that the company will post earnings of $0.82 per share for the year, up from their previous estimate of $0.81. The consensus estimate for Shake Shack’s current full-year earnings is $0.82 per share. Zacks Research also issued estimates for Shake Shack’s Q4 2024 earnings at $0.17 EPS, Q1 2025 earnings at $0.19 EPS, Q3 2025 earnings at $0.31 EPS, FY2025 earnings at $1.09 EPS, Q3 2026 earnings at $0.39 EPS, Q4 2026 earnings at $0.36 EPS and FY2026 earnings at $1.40 EPS.

SHAK has been the subject of a number of other reports. Gordon Haskett raised shares of Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 target price for the company in a report on Wednesday. JPMorgan Chase & Co. restated an “underweight” rating and issued a $102.00 target price (down from $105.00) on shares of Shake Shack in a report on Tuesday, September 24th. Stifel Nicolaus increased their price target on shares of Shake Shack from $115.00 to $128.00 and gave the company a “hold” rating in a report on Friday. Barclays upgraded Shake Shack from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $125.00 to $159.00 in a research report on Tuesday. Finally, Oppenheimer upped their price objective on Shake Shack from $145.00 to $155.00 and gave the company an “outperform” rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Shake Shack currently has a consensus rating of “Hold” and a consensus target price of $122.89.

Shake Shack Stock Performance

NYSE SHAK opened at $128.61 on Friday. The stock has a market capitalization of $5.46 billion, a PE ratio of 756.53, a P/E/G ratio of 2.83 and a beta of 1.86. Shake Shack has a 1-year low of $64.16 and a 1-year high of $139.89. The business has a 50 day simple moving average of $130.04 and a two-hundred day simple moving average of $109.89. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.01 and a quick ratio of 1.98.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. raised its position in Shake Shack by 154.8% during the third quarter. Point72 Asset Management L.P. now owns 650,685 shares of the company’s stock valued at $67,157,000 after acquiring an additional 395,311 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Shake Shack during the 3rd quarter worth approximately $39,677,000. Holocene Advisors LP increased its holdings in shares of Shake Shack by 68.3% during the 3rd quarter. Holocene Advisors LP now owns 946,350 shares of the company’s stock valued at $97,673,000 after purchasing an additional 384,131 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of Shake Shack by 101.2% in the 2nd quarter. Marshall Wace LLP now owns 544,336 shares of the company’s stock valued at $48,990,000 after purchasing an additional 273,822 shares during the period. Finally, Armistice Capital LLC boosted its holdings in Shake Shack by 69.1% during the second quarter. Armistice Capital LLC now owns 579,904 shares of the company’s stock worth $52,191,000 after buying an additional 236,950 shares in the last quarter. 86.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Shake Shack

In related news, Director Daniel Harris Meyer sold 22,691 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $124.47, for a total value of $2,824,348.77. Following the completion of the transaction, the director now owns 437,646 shares in the company, valued at $54,473,797.62. This trade represents a 4.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Katherine Irene Fogertey sold 642 shares of Shake Shack stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $137.51, for a total value of $88,281.42. Following the sale, the chief financial officer now directly owns 30,717 shares of the company’s stock, valued at approximately $4,223,894.67. This represents a 2.05 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 53,333 shares of company stock worth $6,566,330. 9.73% of the stock is owned by insiders.

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.