Wedbush Initiates Coverage on Shake Shack Inc(NYSE:SHAK). The shares have been rated Underperform. The rating by Wedbush was issued on Jul 6, 2016.
In a different note, Buckingham Research said it Initiates Coverage on Shake Shack Inc, according to a research note issued on Jun 16, 2016. The shares have been rated ‘Buy’ by the firm.
Shake Shack Inc (SHAK) made into the market gainers list on Mondays trading session with the shares advancing 1.90% or 0.7 points. Due to strong positive momentum, the stock ended at $37.49, which is also near the day’s high of $37.7399. The stock began the session at $36.78 and the volume stood at 6,20,459 shares. The 52-week high of the shares is $75.9 and the 52 week low is $30. The company has a current market capitalization of $1,360 M and it has 3,62,83,690 shares in outstanding.
Shake Shack Inc(SHAK) last announced its earnings results on May 12, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $54.16M. Analysts had an estimated revenue of $52.06M. Earnings per share were $0.08. Analysts had estimated an EPS of $0.05.
Several Insider Transactions has been reported to the SEC. On Jun 17, 2016, Jonathan D Sokoloff (director 10% owner) sold 43,804 shares at $35.72 per share price.Also, On Jun 10, 2016, Randall J Garutti (director officer 10% owner (Chief Executive Offic) sold 10,000 shares at $37.65 per share price.On May 26, 2016, Jeffrey Flug (director 10% owner) sold 35,000 shares at $35.66 per share price, according to the Form-4 filing with the securities and exchange commission.
Shake Shack Inc. (Shake Shack) is a holding company with no direct operations and its principal asset is the equity interest in SSE Holdings LLC (SSE Holdings). The Company holds 33.3% ownership interest in SSE Holdings. SSE Holdings operates and licenses restaurants in the global restaurant industry serving hamburgers hot dogs crinkle-cut fries shakes frozen custard beer and wine. As of December 31 2014 the Company had 63 Shake Shack restaurants (Shacks) in nine countries and 34 cities. The Company owns and operates Shacks in 10 states and the District of Columbia. As of December 31 2014 the Company had 31 company-operated Shacks in operation in the United States. The Company also has license arrangements with affiliated and unaffiliated operators to develop and operate Shacks. As of December 31 2014 32 licensed Shacks were in operation under license agreements in North America Europe and Asia.