Shake Shack (NYSE:SHAK) Announces Earnings Results, Beats Estimates By $0.03 EPS

Shake Shack (NYSE:SHAK) posted its quarterly earnings data on Thursday. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.03, Briefing.com reports. The business had revenue of $290.50 million during the quarter, compared to analysts’ expectations of $291.00 million. Shake Shack had a net margin of 2.08% and a return on equity of 4.86%. Shake Shack’s revenue was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.01) earnings per share.

Shake Shack Stock Performance

Shares of NYSE:SHAK traded up $2.53 during midday trading on Friday, reaching $107.47. The company had a trading volume of 998,288 shares, compared to its average volume of 746,591. Shake Shack has a 52-week low of $52.79 and a 52-week high of $110.90. The company’s 50 day moving average price is $102.37 and its 200 day moving average price is $80.42. The stock has a market cap of $4.55 billion, a P/E ratio of 195.40, a P/E/G ratio of 3.71 and a beta of 1.78. The company has a current ratio of 2.03, a quick ratio of 2.01 and a debt-to-equity ratio of 0.52.

Analyst Upgrades and Downgrades

SHAK has been the subject of several recent analyst reports. TD Cowen restated a “buy” rating and set a $125.00 target price on shares of Shake Shack in a research note on Thursday. Robert W. Baird increased their target price on shares of Shake Shack from $102.00 to $105.00 and gave the stock a “neutral” rating in a research note on Friday. Wedbush upped their price target on Shake Shack from $100.00 to $110.00 and gave the stock a “neutral” rating in a research note on Friday. UBS Group raised their price objective on Shake Shack from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Morgan Stanley upped their target price on Shake Shack from $88.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Friday, April 12th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $96.33.

Insider Transactions at Shake Shack

In other news, Director Daniel Harris Meyer sold 23,966 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $100.13, for a total transaction of $2,399,715.58. Following the transaction, the director now owns 526,471 shares of the company’s stock, valued at approximately $52,715,541.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Daniel Harris Meyer sold 23,966 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $100.13, for a total value of $2,399,715.58. Following the sale, the director now owns 526,471 shares of the company’s stock, valued at $52,715,541.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jeffrey Flug sold 304 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $103.01, for a total transaction of $31,315.04. Following the sale, the director now owns 3,754 shares in the company, valued at $386,699.54. The disclosure for this sale can be found here. Insiders sold a total of 100,760 shares of company stock worth $10,190,420 in the last quarter. Insiders own 10.06% of the company’s stock.

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.