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

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

Shake Shack Stock Up 2.4 %

Shares of NYSE:SHAK traded up $2.53 on Friday, hitting $107.47. 998,288 shares of the company’s stock were exchanged, compared to its average volume of 746,591. Shake Shack has a 1-year low of $52.79 and a 1-year high of $110.90. The company has a market capitalization of $4.55 billion, a PE ratio of 195.40, a P/E/G 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 firm’s 50-day moving average is $102.37 and its 200 day moving average is $80.42.

Insider Buying and Selling at Shake Shack

In other Shake Shack news, Director Daniel Harris Meyer sold 30,000 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $95.25, for a total transaction of $2,857,500.00. Following the transaction, the director now owns 550,437 shares of the company’s stock, valued at $52,429,124.25. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Shake Shack news, Director Daniel Harris Meyer sold 30,000 shares of Shake Shack stock in a transaction 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 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 the SEC website. Also, Director Jeffrey Flug sold 304 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $103.01, for a total value of $31,315.04. Following the completion of the transaction, the director now owns 3,754 shares in the company, valued at approximately $386,699.54. The disclosure for this sale can be found here. Insiders have sold 100,760 shares of company stock worth $10,190,420 over the last three months. Insiders own 10.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SHAK. Morgan Stanley boosted their target price on shares of Shake Shack from $88.00 to $105.00 and gave the company an “equal weight” rating in a research note on Friday, April 12th. Oppenheimer upped their price target on Shake Shack from $108.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Barclays raised their price objective on Shake Shack from $92.00 to $108.00 and gave the company an “equal weight” rating in a report on Friday. TD Cowen reiterated a “buy” rating and set a $125.00 target price on shares of Shake Shack in a research report on Thursday. Finally, Truist Financial boosted 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 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 stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $96.33.

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.