Stifel maintains Hold on Shake Shack stock, keeps $97 target

Published 02/05/2025, 16:50
Stifel maintains Hold on Shake Shack stock, keeps $97 target

On Friday, Stifel analysts reiterated a Hold rating on Shake Shack (NYSE:SHAK) with a steady price target of $97.00. The firm’s assessment came after Shake Shack reported first-quarter results that fell short of market expectations, citing challenges such as adverse weather conditions, a general slowdown in the industry, and tough year-over-year comparisons due to prior limited-time offerings. Despite these challenges, InvestingPro data shows the company maintains strong fundamentals with a healthy current ratio of 1.97 and revenue growth of 15.18% over the last twelve months.

The analysts acknowledged that Shake Shack’s sales trends showed improvement in April and that the company is optimistic about its new menu items and marketing strategies contributing to better sales moving forward. Notably, Shake Shack managed to control costs effectively during the quarter despite the unpredictable sales environment. According to InvestingPro analysis, the company’s net income is expected to grow this year, though the stock currently trades at a premium valuation multiple.

Shake Shack has updated its full-year margin outlook, now aiming for a 22.5% return on margin (ROM), which represents a 120 basis point increase from the previous year and would mark the highest ROM since 2018. The Stifel team, however, cautioned that this revised margin guidance might be overly ambitious and could limit further margin growth if customer demand does not strengthen.

The analysts concluded by expressing a need for clear signs that Shake Shack’s menu innovation and marketing initiatives can sustainably attract more customers. This concern is underscored by the fact that the company has experienced negative traffic in six of the last eight quarters.

In other recent news, Shake Shack reported its first-quarter earnings for 2025, revealing an earnings per share (EPS) of 10 cents, which fell short of the anticipated 17 cents. Despite this earnings miss, the company’s revenue increased by 10.5% year-over-year, reaching $320.9 million, slightly below the expected $330.3 million. The company also demonstrated operational improvements, with a 120 basis point increase in restaurant-level profit margin and a 13.5% rise in adjusted EBITDA to $40.7 million. Analyst Brian Vaccaro from Raymond (NSE:RYMD) James adjusted Shake Shack’s stock price target to $140, down from $145, while maintaining a Strong Buy rating, citing margin growth and strategic initiatives as positive factors. Shake Shack plans to open 45-50 new locations in 2025, indicating a mid-teens growth rate, and aims for total revenue between $1.4 billion and $1.5 billion. The company is focusing on culinary innovation and operational efficiency, with expectations of low single-digit same-store sales growth for the year. Despite macroeconomic pressures, Shake Shack remains optimistic about its growth prospects, supported by strategic initiatives such as new menu offerings and operational improvements.

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