Brokers Issue Forecasts for Shake Shack Inc.’s Q3 2024 Earnings (NYSE:SHAK)

Shake Shack Inc. (NYSE:SHAKFree Report) – Wedbush lifted their Q3 2024 EPS estimates for Shake Shack in a note issued to investors on Wednesday, February 7th. Wedbush analyst N. Setyan now anticipates that the company will post earnings per share of $0.18 for the quarter, up from their prior forecast of $0.17. The consensus estimate for Shake Shack’s current full-year earnings is $0.35 per share.

SHAK has been the topic of several other research reports. Raymond James upgraded shares of Shake Shack from an “outperform” rating to a “strong-buy” rating and set a $78.00 price target on the stock in a research note on Wednesday, December 6th. StockNews.com downgraded shares of Shake Shack from a “hold” rating to a “sell” rating in a research report on Friday, October 13th. HSBC started coverage on shares of Shake Shack in a report on Wednesday, December 20th. They set a “hold” rating and a $74.00 price target on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Shake Shack in a report on Thursday, October 19th. They issued a “hold” rating and a $62.00 target price on the stock. Finally, Barclays dropped their target price on shares of Shake Shack from $72.00 to $59.00 and set an “equal weight” rating on the stock in a report on Monday, October 23rd. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $71.79.

Check Out Our Latest Stock Analysis on Shake Shack

Shake Shack Stock Performance

Shake Shack stock opened at $79.62 on Thursday. The company has a market cap of $3.37 billion, a PE ratio of 1,991.00 and a beta of 1.75. The company has a fifty day moving average price of $71.22 and a two-hundred day moving average price of $66.24. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.12 and a quick ratio of 2.09. Shake Shack has a 12 month low of $52.01 and a 12 month high of $80.91.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SHAK. 12 West Capital Management LP grew its holdings in Shake Shack by 82.2% during the third quarter. 12 West Capital Management LP now owns 1,659,600 shares of the company’s stock worth $96,373,000 after acquiring an additional 748,789 shares during the period. Man Group plc lifted its position in Shake Shack by 1,416.0% during the fourth quarter. Man Group plc now owns 418,006 shares of the company’s stock worth $17,360,000 after buying an additional 390,433 shares in the last quarter. Norges Bank purchased a new position in Shake Shack during the fourth quarter worth approximately $12,514,000. Qube Research & Technologies Ltd lifted its position in Shake Shack by 130.0% during the third quarter. Qube Research & Technologies Ltd now owns 436,888 shares of the company’s stock worth $25,370,000 after buying an additional 246,952 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Shake Shack by 5.2% during the third quarter. Vanguard Group Inc. now owns 4,044,682 shares of the company’s stock worth $181,929,000 after buying an additional 200,222 shares in the last quarter. 91.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Shake Shack

In other news, Director Jeffrey Flug sold 771 shares of the company’s stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $75.07, for a total transaction of $57,878.97. Following the sale, the director now directly owns 5,740 shares of the company’s stock, valued at approximately $430,901.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 1,075 shares of company stock worth $80,852 in the last three months. 10.06% of the stock is currently owned by company insiders.

About Shake Shack

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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.

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

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