Shake Shack FY2024 EPS Forecast Boosted by William Blair

Shake Shack Inc. (NYSE:SHAK) – William Blair increased their FY2024 earnings estimates for Shake Shack in a report 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 previous estimate of $0.69. The consensus estimate for Shake Shack’s current full-year earnings is $0.74 per share.

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

A number of other analysts also recently issued reports on SHAK. Bank of America lifted their price objective on Shake Shack from $104.00 to $116.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Robert W. Baird boosted their price target on shares of Shake Shack from $93.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Oppenheimer increased their price objective on shares of Shake Shack from $122.00 to $135.00 and gave the company an “outperform” rating in a research report on Monday. Morgan Stanley dropped their price objective on shares of Shake Shack from $108.00 to $100.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Finally, The Goldman Sachs Group upped 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. Two equities research 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 company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $108.50.

Shake Shack Price Performance

NYSE:SHAK opened at $114.32 on Monday. The business’s 50-day moving average is $105.01 and its 200 day moving average is $98.20. Shake Shack has a 12 month low of $54.06 and a 12 month high of $115.28. The company has a market capitalization of $4.84 billion, a P/E ratio of 207.85, a P/E/G ratio of 3.23 and a beta of 1.83. The company has a current ratio of 2.06, a quick ratio of 2.03 and a debt-to-equity ratio of 0.51.

Institutional Trading of Shake Shack

Several institutional investors and hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new stake in Shake Shack during the first quarter worth $25,000. Commonwealth Equity Services LLC boosted its position in Shake Shack by 71.1% during the first quarter. Commonwealth Equity Services LLC now owns 7,973 shares of the company’s stock valued at $829,000 after purchasing an additional 3,313 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Shake Shack by 7.8% in the first quarter. BNP Paribas Financial Markets now owns 41,487 shares of the company’s stock valued at $4,316,000 after purchasing an additional 2,996 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in Shake Shack in the first quarter valued at about $853,000. Finally, Hussman Strategic Advisors Inc. bought a new position in Shake Shack in the first quarter worth about $655,000. 86.07% of the stock is currently owned by institutional investors.

Insider Activity at Shake Shack

In other Shake Shack news, Director Jeffrey Flug sold 304 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $90.39, for a total value of $27,478.56. Following the sale, the director now owns 3,347 shares in the company, 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 available at this hyperlink. In other Shake Shack news, Director Daniel Harris Meyer sold 10,000 shares of Shake Shack stock in a transaction on Friday, October 4th. The stock was sold at an average price of $110.08, for a total transaction of $1,100,800.00. Following the completion of the sale, the director now directly owns 460,337 shares of the company’s stock, valued at $50,673,896.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeffrey Flug sold 304 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $90.39, for a total value of $27,478.56. Following the completion of the sale, the director now owns 3,347 shares of the company’s stock, valued at $302,535.33. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,330 shares of company stock worth $2,429,690 in the last quarter. 9.73% 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, 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.