Brokerages Anticipate Shake Shack Inc (SHAK) Will Announce Quarterly Sales of $120.63 Million

Analysts expect that Shake Shack Inc (NYSE:SHAK) will report $120.63 million in sales for the current quarter, according to Zacks. Seven analysts have made estimates for Shake Shack’s earnings. The lowest sales estimate is $115.85 million and the highest is $130.00 million. Shake Shack posted sales of $96.14 million in the same quarter last year, which suggests a positive year over year growth rate of 25.5%. The business is expected to announce its next earnings results after the market closes on Monday, February 25th.

On average, analysts expect that Shake Shack will report full year sales of $455.14 million for the current year, with estimates ranging from $450.90 million to $465.00 million. For the next financial year, analysts forecast that the business will report sales of $578.39 million, with estimates ranging from $571.26 million to $585.13 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Shake Shack.

Several equities research analysts have recently commented on SHAK shares. Longbow Research upgraded shares of Shake Shack from a “neutral” rating to a “buy” rating and set a $60.00 price target for the company in a report on Tuesday, November 6th. Jefferies Financial Group upgraded shares of Shake Shack from an “underperform” rating to a “hold” rating and set a $45.08 price target for the company in a report on Wednesday, December 19th. They noted that the move was a valuation call. Stifel Nicolaus reduced their price target on shares of Shake Shack from $65.00 to $55.00 and set a “hold” rating for the company in a report on Wednesday, December 12th. SunTrust Banks cut their price objective on shares of Shake Shack to $60.00 and set a “buy” rating on the stock in a research report on Friday, November 2nd. Finally, ValuEngine downgraded shares of Shake Shack from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $54.41.

Shares of NYSE:SHAK traded up $0.28 during trading hours on Tuesday, hitting $53.02. The company’s stock had a trading volume of 322,987 shares, compared to its average volume of 597,447. Shake Shack has a 52 week low of $36.58 and a 52 week high of $70.12. The firm has a market cap of $1.96 billion, a P/E ratio of 93.02, a P/E/G ratio of 3.31 and a beta of 1.40.

In other Shake Shack news, CEO Randall J. Garutti sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 26th. The shares were sold at an average price of $42.23, for a total transaction of $1,055,750.00. Following the sale, the chief executive officer now owns 43,041 shares of the company’s stock, valued at approximately $1,817,621.43. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jonathan D. Sokoloff sold 3,517 shares of the business’s stock in a transaction that occurred on Wednesday, February 13th. The stock was sold at an average price of $53.00, for a total transaction of $186,401.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 203,748 shares of company stock worth $10,412,246. 30.18% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Shake Shack by 27.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,799 shares of the company’s stock valued at $82,000 after acquiring an additional 390 shares during the last quarter. LS Investment Advisors LLC boosted its holdings in shares of Shake Shack by 155.3% in the 4th quarter. LS Investment Advisors LLC now owns 4,176 shares of the company’s stock valued at $190,000 after acquiring an additional 2,540 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Shake Shack by 50.7% in the 2nd quarter. Advisors Asset Management Inc. now owns 3,202 shares of the company’s stock valued at $212,000 after acquiring an additional 1,077 shares during the last quarter. Xact Kapitalforvaltning AB boosted its holdings in shares of Shake Shack by 17.5% in the 4th quarter. Xact Kapitalforvaltning AB now owns 4,700 shares of the company’s stock valued at $213,000 after acquiring an additional 700 shares during the last quarter. Finally, LPL Financial LLC boosted its holdings in shares of Shake Shack by 5.2% in the 4th quarter. LPL Financial LLC now owns 5,015 shares of the company’s stock valued at $228,000 after acquiring an additional 248 shares during the last quarter. 83.86% of the stock is currently owned by institutional investors.

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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