FY2024 EPS Estimates for Shake Shack Lifted by William Blair

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

Other analysts have also issued reports about the stock. 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 research report on Friday, August 2nd. Truist Financial reissued a “buy” rating and set a $127.00 price objective on shares of Shake Shack in a research report on Wednesday, August 28th. TD Cowen restated a “buy” rating and issued a $125.00 price objective on shares of Shake Shack in a research note on Wednesday, September 18th. Morgan Stanley lowered their target price on Shake Shack from $108.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Finally, Bank of America boosted their price target on Shake Shack from $104.00 to $116.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Shake Shack has an average rating of “Hold” and an average price target of $107.67.

Shake Shack Trading Up 1.1 %

Shake Shack stock opened at $110.45 on Monday. Shake Shack has a 52-week low of $54.06 and a 52-week high of $113.50. The company has a market cap of $4.67 billion, a P/E ratio of 200.82, a P/E/G ratio of 3.21 and a beta of 1.83. The company has a quick ratio of 2.03, a current ratio of 2.06 and a debt-to-equity ratio of 0.51. The business has a 50-day simple moving average of $104.82 and a two-hundred day simple moving average of $98.10.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.27 EPS for the quarter, hitting the consensus estimate of $0.27. Shake Shack had a return on equity of 5.63% and a net margin of 2.23%. The company had revenue of $316.50 million during the quarter, compared to analyst estimates of $314.37 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. Shake Shack’s revenue was up 16.4% compared to the same quarter last year.

Insider Activity at Shake Shack

In other 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 value of $1,102,400.00. Following the sale, the director now directly 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Katherine Irene Fogertey sold 321 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $95.10, for a total value of $30,527.10. Following the sale, the chief financial officer now directly owns 37,143 shares in the company, valued at $3,532,299.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Daniel Harris Meyer sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $110.24, for a total transaction of $1,102,400.00. Following the sale, the director now owns 470,437 shares in the company, valued at $51,860,974.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,330 shares of company stock valued at $2,429,690. Corporate insiders own 9.73% of the company’s stock.

Institutional Investors Weigh In On Shake Shack

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Xponance Inc. lifted its stake in shares of Shake Shack by 4.5% during the 2nd quarter. Xponance Inc. now owns 2,395 shares of the company’s stock worth $216,000 after acquiring an additional 103 shares during the last quarter. Brighton Jones LLC boosted its stake in shares of Shake Shack by 1.1% during the second quarter. Brighton Jones LLC now owns 17,909 shares of the company’s stock valued at $1,612,000 after purchasing an additional 187 shares during the period. Arizona State Retirement System boosted its stake in shares of Shake Shack by 1.9% during the second quarter. Arizona State Retirement System now owns 10,500 shares of the company’s stock valued at $945,000 after purchasing an additional 196 shares during the period. CWM LLC grew its holdings in shares of Shake Shack by 24.7% in the second quarter. CWM LLC now owns 1,046 shares of the company’s stock worth $94,000 after purchasing an additional 207 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Shake Shack by 5.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,855 shares of the company’s stock worth $347,000 after buying an additional 212 shares during the period. Hedge funds and other institutional investors own 86.07% of the company’s stock.

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.