One analyst calls Shake Shack's first quarter 'historically impressive'
On Wednesday night, the company reported revenue and same-store sales that beat expectations, while also turning an unexpected profit during the quarter.
And following these results, analysts at Stifel called the company's quarter a "historically impressive 'beat and raise.'"
("Beat and raise" is analyst-speak for a quarter in which a company beats Wall Street expectations and gives an outlook for future quarters that also beats current estimates.)
The firm, however, said that all of Shake Shack's value is currently reflected in the stock price, and Stifel has a "Hold" rating and no price target on the stock.
Stifel added that, "We continue to believe SHAK is the industry's best 'how company' within today's 'how economy' as its Enlightened Hospitality culture delivers privileged access to employees, real estate, and suppliers."
Also following the report, analysts at Jefferies got close (but didn't quite do it!) to making the comparison to the hottest fast-food chain on the market, Chipotle.
Jefferies, which maintained a "Hold" rating on Shake Shack but raised its price target on the stock to $60 from $40, said the company is, "not the next Chipotle yet," but said the quarter was still "pretty darn impressive."
In its note, Jefferies said some of the things going for the stock right now include the return of crinkle cut fries, hype around the company's IPO, and the new, higher-priced "Shackmeister" burger.
In pre-market trade on Thursday, Shake Shack shares were up more than 8%.