Shake Shack Inc (NYSE:SHAK) – Stock analysts at SunTrust Banks lowered their Q4 2018 earnings per share (EPS) estimates for Shake Shack in a research note issued to investors on Thursday, November 1st. SunTrust Banks analyst J. Bartlett now anticipates that the company will post earnings per share of ($0.01) for the quarter, down from their prior estimate of $0.01. SunTrust Banks has a “Buy” rating and a $60.00 price target on the stock. SunTrust Banks also issued estimates for Shake Shack’s FY2019 earnings at $0.64 EPS and FY2020 earnings at $0.84 EPS.
Several other analysts have also issued reports on the company. Zacks Investment Research raised Shake Shack from a “sell” rating to a “hold” rating in a report on Tuesday, July 17th. Cowen reissued a “hold” rating and set a $59.00 target price on shares of Shake Shack in a report on Wednesday, July 25th. Morgan Stanley increased their target price on Shake Shack from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, July 16th. Wedbush reissued a “hold” rating and set a $62.00 target price on shares of Shake Shack in a report on Friday, August 3rd. Finally, Stifel Nicolaus initiated coverage on Shake Shack in a report on Tuesday, October 9th. They set a “hold” rating and a $65.00 target price on the stock. Two analysts have rated the stock with a sell rating, seven have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $53.90.
Shake Shack (NYSE:SHAK) last issued its quarterly earnings data on Thursday, November 1st. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.08. Shake Shack had a return on equity of 11.02% and a net margin of 0.40%. The firm had revenue of $119.65 million for the quarter, compared to analyst estimates of $116.81 million. During the same period in the prior year, the firm posted $0.17 EPS. The company’s revenue for the quarter was up 26.5% on a year-over-year basis.
In related news, Director Daniel Harris Meyer sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 25th. The stock was sold at an average price of $60.24, for a total transaction of $602,400.00. Following the completion of the sale, the director now directly owns 1,032 shares in the company, valued at approximately $62,167.68. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Equity Group L.P. Select sold 57,404 shares of the company’s stock in a transaction on Tuesday, October 23rd. The stock was sold at an average price of $53.56, for a total value of $3,074,558.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,284,560 shares of company stock worth $74,700,300. 30.18% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in the stock. Rehmann Capital Advisory Group bought a new position in Shake Shack in the second quarter valued at about $124,000. Advisors Asset Management Inc. raised its position in Shake Shack by 50.7% in the second quarter. Advisors Asset Management Inc. now owns 3,202 shares of the company’s stock valued at $212,000 after purchasing an additional 1,077 shares during the last quarter. HM Payson & Co. bought a new position in Shake Shack in the second quarter valued at about $249,000. Pinebridge Investments L.P. bought a new position in Shake Shack in the second quarter valued at about $250,000. Finally, Amalgamated Bank bought a new position in Shake Shack in the second quarter valued at about $261,000. Institutional investors and hedge funds own 87.50% 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, 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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