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

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

Shake Shack Stock Up 2.4 %

SHAK stock traded up $2.53 during trading on Friday, reaching $107.47. 998,288 shares of the company traded hands, compared to its average volume of 746,591. The company has a market capitalization of $4.55 billion, a price-to-earnings ratio of 195.40, a price-to-earnings-growth ratio of 3.71 and a beta of 1.78. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.01 and a current ratio of 2.03. The business has a 50 day simple moving average of $102.37 and a 200 day simple moving average of $80.42. Shake Shack has a 12 month low of $52.79 and a 12 month high of $110.90.

Analyst Upgrades and Downgrades

SHAK has been the subject of several analyst reports. StockNews.com lowered shares of Shake Shack from a “hold” rating to a “sell” rating in a report on Monday, March 4th. UBS Group raised their price objective on shares of Shake Shack from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday. Raymond James increased their price target on Shake Shack from $90.00 to $115.00 and gave the stock a “strong-buy” rating in a report on Friday, February 16th. Barclays lifted their target price on Shake Shack from $92.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Truist Financial upped their price target on shares of Shake Shack from $115.00 to $124.00 and gave the stock a “buy” rating in a report on Friday. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $96.33.

Insiders Place Their Bets

In other news, Director Daniel Harris Meyer sold 30,000 shares of Shake Shack stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $95.25, for a total value of $2,857,500.00. Following the transaction, the director now owns 550,437 shares of the company’s stock, valued at approximately $52,429,124.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Shake Shack news, Director Daniel Harris Meyer sold 30,000 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $95.25, for a total value of $2,857,500.00. Following the completion of the sale, the director now directly owns 550,437 shares in the company, valued at $52,429,124.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jeffrey Flug sold 304 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $108.05, for a total value of $32,847.20. Following the sale, the director now owns 4,058 shares in the company, valued at approximately $438,466.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 100,760 shares of company stock worth $10,190,420. 10.06% of the stock is owned by corporate insiders.

About Shake Shack

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.