SunTrust Banks Weighs in on Shake Shack Inc’s Q3 2019 Earnings (NYSE:SHAK)

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Shake Shack Inc (NYSE:SHAK) – Research analysts at SunTrust Banks lowered their Q3 2019 EPS estimates for Shake Shack in a report released on Thursday, October 17th. SunTrust Banks analyst J. Bartlett now expects that the company will post earnings of $0.19 per share for the quarter, down from their previous estimate of $0.20. SunTrust Banks has a “Buy” rating and a $102.00 price objective on the stock.

Other research analysts have also recently issued research reports about the stock. Wedbush restated a “hold” rating and set a $75.00 price target on shares of Shake Shack in a research note on Tuesday, August 6th. Credit Suisse Group raised their price target on shares of Shake Shack from $77.00 to $83.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 6th. Goldman Sachs Group started coverage on shares of Shake Shack in a research note on Monday, July 29th. They set a “buy” rating and a $95.00 price target for the company. Morgan Stanley raised their price target on shares of Shake Shack from $65.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Finally, Piper Jaffray Companies restated an “overweight” rating and set a $109.00 price target (up previously from $105.00) on shares of Shake Shack in a research note on Thursday, September 5th. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Shake Shack presently has a consensus rating of “Hold” and a consensus target price of $81.68.

Shares of SHAK opened at $88.49 on Monday. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of 124.63, a P/E/G ratio of 5.75 and a beta of 1.27. The company has a quick ratio of 1.08, a current ratio of 1.10 and a debt-to-equity ratio of 0.97. Shake Shack has a 12 month low of $40.67 and a 12 month high of $105.84. The company has a 50-day moving average price of $97.02 and a two-hundred day moving average price of $77.34.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. The firm had revenue of $152.71 million during the quarter, compared to analysts’ expectations of $149.77 million. Shake Shack had a net margin of 2.96% and a return on equity of 9.01%. The company’s revenue for the quarter was up 31.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.29 earnings per share.

In other news, COO Zach Koff sold 20,000 shares of Shake Shack stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $87.50, for a total value of $1,750,000.00. Following the completion of the transaction, the chief operating officer now owns 11,692 shares in the company, valued at $1,023,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Randall J. Garutti sold 60,000 shares of Shake Shack stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $103.00, for a total transaction of $6,180,000.00. Following the completion of the transaction, the chief executive officer now owns 90,702 shares of the company’s stock, valued at approximately $9,342,306. The disclosure for this sale can be found here. Insiders sold 305,406 shares of company stock valued at $27,464,286 in the last quarter. 21.85% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its holdings in shares of Shake Shack by 6.1% in the second quarter. BlackRock Inc. now owns 3,899,216 shares of the company’s stock valued at $281,523,000 after purchasing an additional 224,817 shares in the last quarter. FMR LLC increased its holdings in shares of Shake Shack by 13.0% in the first quarter. FMR LLC now owns 1,203,667 shares of the company’s stock valued at $71,197,000 after purchasing an additional 138,218 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Shake Shack by 1,069.6% in the second quarter. Invesco Ltd. now owns 1,099,642 shares of the company’s stock valued at $79,394,000 after purchasing an additional 1,005,627 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Shake Shack in the second quarter valued at approximately $58,021,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Shake Shack by 5.4% in the second quarter. Bank of New York Mellon Corp now owns 347,749 shares of the company’s stock valued at $25,107,000 after purchasing an additional 17,702 shares in the last quarter. 84.66% of the stock is 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 December 26, 2018, it operated 208 Shacks, including 124 domestic company-operated Shacks, 12 domestic licensed Shacks, and 72 international licensed Shacks.

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Earnings History and Estimates for Shake Shack (NYSE:SHAK)

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