Shake Shack (NYSE:SHAK) had its price target trimmed by SunTrust Banks to $60.00 in a research note released on Friday, The Fly reports. The brokerage currently has a buy rating on the stock. SunTrust Banks also issued estimates for Shake Shack’s Q4 2018 earnings at ($0.01) EPS, FY2019 earnings at $0.64 EPS and FY2020 earnings at $0.84 EPS.
Several other analysts also recently issued reports on the stock. Cowen reissued a hold rating and set a $59.00 target price on shares of Shake Shack in a research note on Wednesday, July 25th. Zacks Investment Research downgraded shares of Shake Shack from a strong-buy rating to a hold rating in a research note on Tuesday, October 23rd. Morgan Stanley boosted their target price on shares of Shake Shack from $47.00 to $51.00 and gave the company an equal weight rating in a research note on Monday, July 16th. Wedbush reissued a hold rating and set a $62.00 target price on shares of Shake Shack in a research note on Friday, August 3rd. Finally, Stifel Nicolaus assumed coverage on shares of Shake Shack in a research note on Tuesday, October 9th. They set a hold rating and a $65.00 target price on the stock. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $53.90.
NYSE SHAK opened at $47.45 on Friday. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 83.19, a P/E/G ratio of 3.27 and a beta of 1.36. Shake Shack has a 1 year low of $35.96 and a 1 year high of $70.12.
Shake Shack (NYSE:SHAK) last posted its quarterly earnings results on Thursday, November 1st. The company reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.08. The company had revenue of $119.65 million for the quarter, compared to analysts’ expectations of $116.81 million. Shake Shack had a return on equity of 11.02% and a net margin of 0.40%. The firm’s revenue was up 26.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.17 earnings per share. On average, equities research analysts forecast that Shake Shack will post 0.64 EPS for the current fiscal year.
In other news, major shareholder Equity Group L.P. Select sold 57,404 shares of the company’s stock in a transaction on Tuesday, October 23rd. The shares were sold at an average price of $53.56, for a total value of $3,074,558.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jonathan D. Sokoloff sold 500,000 shares of the company’s stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $57.15, for a total transaction of $28,575,000.00. The disclosure for this sale can be found here. Insiders sold 1,284,560 shares of company stock worth $74,700,300 over the last ninety days. 30.18% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Rehmann Capital Advisory Group acquired a new position in shares of Shake Shack in the second quarter worth $124,000. Advisors Asset Management Inc. increased its stake in shares of Shake Shack by 50.7% in the second quarter. Advisors Asset Management Inc. now owns 3,202 shares of the company’s stock worth $212,000 after acquiring an additional 1,077 shares during the last quarter. HM Payson & Co. acquired a new position in shares of Shake Shack in the second quarter worth $249,000. Pinebridge Investments L.P. bought a new stake in Shake Shack in the second quarter worth $250,000. Finally, Amalgamated Bank bought a new stake in Shake Shack in the second quarter worth $261,000. 87.50% of the stock is currently owned by institutional investors and hedge funds.
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 October 9, 2018, it operated 180 locations in 26 U.S.
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