Why Investors Were Gorging on Shake Shack Stock This Week

This week's news from hamburger slinger Shake Shack (NYSE: SHAK) was overwhelmingly positive -- hence the stock's double-digit gain over the past five trading days. According to data compiled by S&P Global Market Intelligence, it ended the week more than 12% higher in price. The major impetus to this gain was the company's latest set of quarterly results, accompanied by several analysts' target price raises.On Wednesday, Shake Shack served up a very tasty meal for investors in the form of its third-quarter results. Revenue rose a sturdy 15% year-over-year to hit $317 million, thanks to a combination of new restaurant openings and a more than 4% rise in same-restaurant sales.More impressively, the company managed to increase its "pro forma," i.e., non-GAAP (generally accepted accounting principles), or adjusted net income by 48% to just over $11.1 million, or $0.25 per share. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool