Shake Shack Inc (NASDAQ:SHAK) will be announcing its earnings results after the market closes on Thursday, May 12th. They now have a United States dollars 35 price target on the stock.
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Several hedge funds have made changes to their positions in SHAK. Shack sales for the first quarter of 2016 were $52.2 million, a boost of 44.7% from $36.0 million in the same quarter a year ago, due mainly to the opening of new Shacks, in addition to same-Shack sales growth. The company also raised its guidance for 2016, following which its shares gained nearly 6% during aftermarket hours yesterday. The company’s comparable Shack base, comprised of 20 vs. 13 Shake Shacks compared to its Q1 of previous year.
“The Chick’n Shack is driving excitement with our current fans as well as giving guests a new reason to try Shake Shack for the first time”. In terms of the quarter, shares are performing at 3.82%. Shake Shack originally planned to open 13 locations. Finally, TheStreet initiated coverage on Shake Shack in a research note on Wednesday, March 9th. Commonwealth Equity Services Inc now owns 20,767 shares of the company’s stock valued at $775,000 after buying an additional 6,609 shares during the period. He also suspects the company is being conservative.
The stock increased 0.15% or $0.05 on May 12, hitting $34.42. The Rating was issued on Mar 8, 2016.
He retains his Hold rating and $40 price target. The company presently has an average rating of “Hold” and an average price target of $39.48. The firm has a 50-day moving average of $36.07 and a 200 day moving average of $38.77. The stock’s market capitalization is 750.11M, it has a 52-week low of 30.00 and a 52-week high of 96.75. The firm’s market capitalization is $546.45 million. The company reported $0.08 EPS for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.01. However, comps growth was lower than the prior-quarter growth of 11% and the prior-year quarter growth of 11.1%.
They expect $0.06 EPS, up 33.33% or $0.02 from last year’s $0.04 per share.
Shake Shack opened three company-operated domestic locations in the first quarter, including one in West Hollywood, Calif., which CEO Randy Garutti said has been one of the strongest openings in the company’s 12-year history.
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Now insiders hold 2,510,725 shares in the business which makes up 6.93% of shares. They now have a Dollars 38 price target on the stock.
