Yahoo Finance Here's Why Shake Shack (SHAK) is a Strong Momentum Stock
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.
Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.
Is This 1 Momentum Stock a Screaming Buy Right Now?
Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
Shake Shack (SHAK)
Founded in 2001, Shake Shack, Inc. is a New York-based fast food hamburger restaurant chain. Shake Shack restaurants operate in the United States and internationally. The company operates and grants licenses for Shake Shack restaurants, commonly known as "Shacks". Here they present a menu featuring burgers, chicken, hot dogs, crinkle-cut fries, shakes, frozen custard, beer, wine and additional offerings.
SHAK boasts a Momentum Style Score of A and VGM Score of B, and holds a Zacks Rank #2 (Buy) rating. Shares of Shake Shack has seen some interesting price action recently; the stock is down 2.8% over the past one week and up 0.2% over the past four weeks. And in the last one-year period, SHAK has gained 92.8%. As for the stock's trading volume, 963,638 shares on average were traded over the last 20 days.
Momentum investors also pay close attention to a company's earnings. For SHAK, 13 analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.22 to $0.71 per share for 2024. SHAK boasts an average earnings surprise of 92.6%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding SHAK to their portfolios.
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Shake Shack, Inc. (SHAK) : Free Stock Analysis Report
