Shake Shack Inc (NYSE:SHAK) – Research analysts at Piper Sandler upped their Q3 2021 earnings estimates for Shake Shack in a report issued on Sunday, September 13th. Piper Sandler analyst N. Regan now expects that the company will post earnings of $0.03 per share for the quarter, up from their previous forecast of $0.02. Piper Sandler has a “Overweight” rating and a $78.00 price objective on the stock. Piper Sandler also issued estimates for Shake Shack’s Q4 2021 earnings at $0.02 EPS, FY2021 earnings at $0.23 EPS and FY2022 earnings at $0.62 EPS.
Shake Shack (NYSE:SHAK) last posted its earnings results on Thursday, July 30th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.08). Shake Shack had a negative net margin of 1.64% and a negative return on equity of 1.40%. The firm had revenue of $91.79 million during the quarter, compared to the consensus estimate of $93.29 million.
Several other research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Shake Shack from $47.00 to $51.00 and gave the stock an “underweight” rating in a research report on Wednesday, June 24th. MKM Partners dropped their price objective on shares of Shake Shack from $59.00 to $54.00 and set a “neutral” rating for the company in a research report on Friday, July 10th. TheStreet cut shares of Shake Shack from a “c-” rating to a “d+” rating in a research report on Tuesday, August 11th. Jefferies Financial Group boosted their price objective on shares of Shake Shack from $45.00 to $50.00 and gave the stock a “hold” rating in a research report on Friday, July 31st. Finally, Wedbush upgraded shares of Shake Shack from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $53.00 to $77.00 in a research report on Thursday, August 20th. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company. Shake Shack currently has a consensus rating of “Hold” and a consensus target price of $57.94.
SHAK stock opened at $71.32 on Wednesday. The company has a 50 day moving average price of $59.05 and a 200 day moving average price of $51.69. Shake Shack has a fifty-two week low of $30.01 and a fifty-two week high of $104.86. The stock has a market capitalization of $2.95 billion, a PE ratio of -339.62 and a beta of 1.72.
Hedge funds have recently made changes to their positions in the company. Magnus Financial Group LLC boosted its stake in Shake Shack by 3.6% in the 2nd quarter. Magnus Financial Group LLC now owns 7,393 shares of the company’s stock worth $392,000 after purchasing an additional 256 shares during the period. Mutual of America Capital Management LLC boosted its stake in Shake Shack by 25.3% in the 1st quarter. Mutual of America Capital Management LLC now owns 1,382 shares of the company’s stock worth $52,000 after purchasing an additional 279 shares during the period. Amalgamated Bank boosted its stake in Shake Shack by 10.1% in the 2nd quarter. Amalgamated Bank now owns 5,924 shares of the company’s stock worth $314,000 after purchasing an additional 542 shares during the period. Ameritas Investment Partners Inc. boosted its stake in Shake Shack by 21.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,100 shares of the company’s stock worth $164,000 after purchasing an additional 551 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Shake Shack by 18.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,865 shares of the company’s stock worth $205,000 after purchasing an additional 605 shares during the period. 92.25% of the stock is owned by institutional investors.
In other news, Director Daniel Harris Meyer sold 25,000 shares of the business’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $55.09, for a total value of $1,377,250.00. Following the completion of the transaction, the director now owns 1,364 shares of the company’s stock, valued at approximately $75,142.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Tara Comonte sold 2,985 shares of the business’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $70.02, for a total transaction of $209,009.70. Following the completion of the transaction, the chief financial officer now directly owns 54,046 shares of the company’s stock, valued at approximately $3,784,300.92. The disclosure for this sale can be found here. Insiders sold a total of 161,942 shares of company stock valued at $10,357,726 in the last three months. 14.98% of the stock is owned by company insiders.
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, hot dogs, chicken, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. As of December 26, 2018, it operated 208 Shacks, including 124 domestic company-operated Shacks, 12 domestic licensed Shacks, and 72 international licensed Shacks.
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