Why Shake Shack (SHAK) is a Top Momentum Stock for the Long-Term
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.
Is This 1 Momentum Stock a Screaming Buy Right Now?
For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
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 is a Zacks Rank #2 (Buy) stock, with a Momentum Style Score of A and VGM Score of B. Shares are down 1.8% over the past one week and up 32% over the past four weeks. SHAK has gained 86.3% in the last one-year period as well. Looking at trading volume, an average of 1,280,369.50 shares exchanged hands over the last 20 trading days.
A company's earnings performance is important for momentum investors as well. For fiscal 2024, 13 analysts revised their earnings estimate higher in the last 60 days for SHAK, while the Zacks Consensus Estimate has increased $0.22 to $0.69 per share. SHAK also 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
