Wedbush Has Strong Forecast for Shake Shack FY2024 Earnings

Shake Shack Inc. (NYSE:SHAK) – Equities researchers at Wedbush increased their FY2024 earnings estimates for Shake Shack in a research report issued on Wednesday, January 15th. Wedbush analyst N. Setyan now expects that the company will earn $0.90 per share for the year, up from their previous estimate of $0.80. Wedbush has a “Neutral” rating and a $130.00 price target on the stock. The consensus estimate for Shake Shack’s current full-year earnings is $0.82 per share. Wedbush also issued estimates for Shake Shack’s Q2 2025 earnings at $0.34 EPS, Q4 2025 earnings at $0.32 EPS and FY2025 earnings at $1.26 EPS.

Several other equities research analysts also recently issued reports on the stock. Stifel Nicolaus lifted their price target on shares of Shake Shack from $115.00 to $128.00 and gave the stock a “hold” rating in a research note on Friday, January 10th. Barclays upgraded Shake Shack from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $125.00 to $159.00 in a research note on Tuesday, January 7th. Gordon Haskett upgraded Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 target price for the company in a research note on Wednesday, January 8th. Truist Financial cut their price target on shares of Shake Shack from $149.00 to $143.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Oppenheimer boosted their target price on shares of Shake Shack from $145.00 to $155.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $124.78.

Shake Shack Price Performance

SHAK stock opened at $117.09 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.98 and a current ratio of 2.01. Shake Shack has a 1 year low of $64.16 and a 1 year high of $139.89. The stock has a 50-day simple moving average of $129.29 and a 200-day simple moving average of $111.00. The firm has a market cap of $4.97 billion, a P/E ratio of 688.74, a price-to-earnings-growth ratio of 1.91 and a beta of 1.86.

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, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $316.03 million. During the same period in the previous year, the company posted $0.17 earnings per share. Shake Shack’s revenue was up 14.7% compared to the same quarter last year.

Hedge Funds Weigh In On Shake Shack

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SHAK. Point72 Asset Management L.P. boosted its holdings 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 during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Shake Shack during the 3rd quarter valued at approximately $39,677,000. Holocene Advisors LP grew its holdings in Shake Shack by 68.3% in the 3rd quarter. Holocene Advisors LP now owns 946,350 shares of the company’s stock valued at $97,673,000 after buying an additional 384,131 shares during the last quarter. Marshall Wace LLP increased its position in Shake Shack by 101.2% in the 2nd quarter. Marshall Wace LLP now owns 544,336 shares of the company’s stock worth $48,990,000 after buying an additional 273,822 shares during the period. Finally, Armistice Capital LLC lifted its holdings in shares of 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 during the last quarter. Institutional investors and hedge funds own 86.07% of the company’s stock.

Insider Buying and Selling

In other news, 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 transaction of $88,281.42. Following the completion of the sale, the chief financial officer now directly owns 30,717 shares in the company, valued at $4,223,894.67. The trade was a 2.05 % 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 Daniel Harris Meyer sold 30,000 shares of Shake Shack stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $121.79, for a total transaction of $3,653,700.00. Following the completion of the sale, the director now owns 407,646 shares of the company’s stock, valued at $49,647,206.34. This trade represents a 6.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 53,333 shares of company stock valued at $6,566,330. Company insiders own 9.73% 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.