Today’s Research Reports on Stocks to Watch: Shake Shack and Monster Beverage
NEW YORK, NY / ACCESSWIRE / May 31, 2018 / Shake Shack hit a brand new high in Wednesday’s trading session although there was no news to explain the move. Shares have been gaining speed this month since the company reported earnings a few weeks ago for the first quarter. Shares of Monster Beverage also saw gains after the company announced that it had approved a new $500 million share buyback.
RDI Initiates Coverage on:
Shake Shack Inc.
https://rdinvesting.com/news/?ticker=SHAK
Monster Beverage Corporation
https://rdinvesting.com/news/?ticker=MNST
Shake Shack Inc. shares closed up 5.66% on about 2.6 million shares traded yesterday. The stock soared to a new high of $62.54 despite not having any catalyst to explain the move. It was earlier in the month that the American fast casual restaurant chain reported first quarter earnings and exploded 25% the day after. Revenue for the first quarter hit $96.14 million, representing a 31.2% from the year ago quarter. It also beat analysts' expectations by $3.27 million. Adjusted earnings per share for the quarter was $0.15, a gain of 50% from the year ago period. Out of 11 analysts following the stock, 27.3% have a buy rating while 45.5% have a hold rating. 27.3% have a sell rating on shares. It was last week that Longbow Research downgraded the stock from buy to neutral.
Access RDI’s Shake Shack Inc. Research Report at:
https://rdinvesting.com/news/?ticker=SHAK
Monster Beverage Corporation shares closed up 5.42% yesterday on about 8 million shares traded. The beverage giant saw its shares rise higher after traders learned that the company has renewed and increased an exhausted share buyback policy. Monster Beverage's board of directors have doubled up with a brand new $500 million policy. According to the company's press release, there is no availability remaining under the previously authorized $250 million share repurchase program and Monster expects the share repurchases to be made from time to time in the open market or through privately negotiated transactions, or otherwise, subject to applicable laws, regulations and approvals. Monster also said that "the timing of the share repurchases will depend on a variety of factors, including market conditions, and share repurchases may be suspended or discontinued at any time."
Access RDI’s Monster Beverage Corporation Research Report at:
https://rdinvesting.com/news/?ticker=MNST
Our Actionable Research on Shake Shack Inc. (NYSE: SHAK) and Monster Beverage Corporation (NASDAQ: MNST) can be downloaded free of charge at Research Driven Investing.
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SOURCE: RDInvesting.com
