Shake Shack Inc (SHAK) is Initiated by Wedbush to Underperform, Price Target at $30

Shake Shack Inc (SHAK) was Initiated by Wedbush to “Underperform” and the brokerage firm has set the Price Target at $30. Wedbush advised their investors in a research report released on Jul 7, 2016.

Many Wall Street Analysts have commented on Shake Shack Inc. Buckingham Research Initiated Shake Shack Inc on Jun 16, 2016 to “Buy”, Price Target of the shares are set at $45.

On the company’s financial health, Shake Shack Inc reported $0.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 12, 2016. Analyst had a consensus of $0.05. The company had revenue of $54.20 million for the quarter, compared to analysts expectations of $52.16 million. The company’s revenue was up 43.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.04 EPS.

Shake Shack Inc closed down -1.49 points or -4.00% at $35.72 with 6,54,421 shares getting traded on Tuesday. Post opening the session at $37.14, the shares hit an intraday low of $35.68 and an intraday high of $37.2599 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Mar 17, 2016, Peggy Rubenzer (SVP, People Resources) sold 2,000 shares at $33.49 per share price. According to the SEC, on Aug 20, 2015, Jeffrey J Uttz (Chief Financial Officer) sold 26,235 shares at $57.75 per share price. On Feb 6, 2015, Jenna Lyons (director) purchased 10,000 shares at $21.00 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.

Shake Shack Inc

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