Wall Street analysts predict that Shake Shack Inc (NYSE:SHAK) will report $117.16 million in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Shake Shack’s earnings, with the highest sales estimate coming in at $123.56 million and the lowest estimate coming in at $109.31 million. Shake Shack reported sales of $94.61 million in the same quarter last year, which indicates a positive year-over-year growth rate of 23.8%. The business is expected to report its next quarterly earnings report on Wednesday, November 7th.

According to Zacks, analysts expect that Shake Shack will report full-year sales of $453.24 million for the current fiscal year, with estimates ranging from $445.16 million to $467.72 million. For the next year, analysts forecast that the company will report sales of $585.64 million per share, with estimates ranging from $564.58 million to $609.48 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Shake Shack.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings data on Thursday, August 2nd. The company reported $0.29 EPS for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.11. Shake Shack had a net margin of 0.42% and a return on equity of 10.39%. The company had revenue of $116.30 million during the quarter, compared to the consensus estimate of $110.70 million. During the same period in the prior year, the business posted $0.20 EPS. The company’s quarterly revenue was up 27.4% on a year-over-year basis.

SHAK has been the subject of a number of recent research reports. Longbow Research downgraded shares of Shake Shack from a “buy” rating to a “neutral” rating and set a $57.96 price objective for the company. in a research note on Wednesday, May 23rd. They noted that the move was a valuation call. JPMorgan Chase & Co. downgraded shares of Shake Shack from a “neutral” rating to an “underweight” rating and set a $49.00 price objective for the company. in a research note on Monday, May 7th. Zacks Investment Research upgraded shares of Shake Shack from a “sell” rating to a “hold” rating in a research note on Tuesday, July 17th. Barclays increased their price objective on shares of Shake Shack from $52.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Monday, August 6th. Finally, Morgan Stanley increased their price objective on shares of Shake Shack from $44.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Friday, May 4th. Two analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $53.00.

Shares of Shake Shack stock traded up $1.02 during trading hours on Tuesday, reaching $59.89. 23,176 shares of the company’s stock were exchanged, compared to its average volume of 984,253. Shake Shack has a fifty-two week low of $30.12 and a fifty-two week high of $70.12. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 103.37, a P/E/G ratio of 4.25 and a beta of 1.26.

In related news, major shareholder Equity Group L.P. Select sold 130,606 shares of the firm’s stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $62.88, for a total value of $8,212,505.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert T. Vivian sold 20,000 shares of the firm’s stock in a transaction dated Thursday, June 7th. The shares were sold at an average price of $65.00, for a total transaction of $1,300,000.00. Following the completion of the sale, the director now owns 8,720 shares of the company’s stock, valued at $566,800. The disclosure for this sale can be found here. Insiders sold a total of 657,233 shares of company stock valued at $41,932,200 over the last quarter. 30.18% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of the stock. Advisors Asset Management Inc. raised its holdings in 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 period. HM Payson & Co. bought a new position in Shake Shack in the 2nd quarter valued at about $249,000. Pinebridge Investments L.P. bought a new position in Shake Shack in the 2nd quarter valued at about $250,000. Amalgamated Bank bought a new position in Shake Shack in the 2nd quarter valued at about $261,000. Finally, Xact Kapitalforvaltning AB bought a new position in Shake Shack in the 2nd quarter valued at about $265,000. Institutional investors and hedge funds own 87.48% of the company’s stock.

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 December 27, 2017, it had 159 Shacks, including 90 domestic company-operated Shacks, 10 domestic licensed Shacks, and 59 international licensed Shacks.

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