Chipotle Mexican Grill (NYSE:CMG) Upgraded at Zacks Research

Chipotle Mexican Grill (NYSE:CMG) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other research analysts have also weighed in on CMG. The Goldman Sachs Group reissued a “buy” rating on shares of Chipotle Mexican Grill in a report on Thursday, December 18th. Northcoast Research lowered shares of Chipotle Mexican Grill from a “buy” rating to a “neutral” rating in a research report on Friday, October 31st. Wells Fargo & Company reduced their target price on shares of Chipotle Mexican Grill from $55.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. BMO Capital Markets restated an “outperform” rating on shares of Chipotle Mexican Grill in a research report on Thursday, October 30th. Finally, Rothschild & Co Redburn upgraded Chipotle Mexican Grill from a “neutral” rating to a “buy” rating and set a $55.00 price target for the company in a research report on Wednesday, September 3rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $49.81.

Chipotle Mexican Grill Trading Down 0.3%

Shares of CMG stock opened at $37.04 on Monday. The stock has a market capitalization of $48.98 billion, a price-to-earnings ratio of 32.78, a price-to-earnings-growth ratio of 3.79 and a beta of 0.99. Chipotle Mexican Grill has a 12-month low of $29.75 and a 12-month high of $61.16. The stock’s 50-day moving average price is $34.64 and its 200-day moving average price is $41.69.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Wednesday, October 29th. The restaurant operator reported $0.29 EPS for the quarter, meeting analysts’ consensus estimates of $0.29. Chipotle Mexican Grill had a return on equity of 45.39% and a net margin of 13.04%.The company had revenue of $3 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same period in the prior year, the company earned $0.27 earnings per share. The firm’s revenue was up 7.5% on a year-over-year basis. As a group, research analysts predict that Chipotle Mexican Grill will post 1.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Chipotle Mexican Grill

A number of institutional investors and hedge funds have recently modified their holdings of the business. Capital World Investors grew its position in Chipotle Mexican Grill by 122.7% in the 3rd quarter. Capital World Investors now owns 87,844,788 shares of the restaurant operator’s stock valued at $3,442,645,000 after acquiring an additional 48,398,628 shares during the last quarter. Norges Bank purchased a new stake in shares of Chipotle Mexican Grill during the second quarter valued at $1,001,668,000. Capital International Investors grew its holdings in shares of Chipotle Mexican Grill by 42.4% in the third quarter. Capital International Investors now owns 38,497,927 shares of the restaurant operator’s stock worth $1,509,043,000 after purchasing an additional 11,471,658 shares during the last quarter. Sustainable Growth Advisers LP purchased a new position in Chipotle Mexican Grill in the 2nd quarter worth about $597,031,000. Finally, BlueSpruce Investments LP increased its stake in Chipotle Mexican Grill by 24,760.7% in the 2nd quarter. BlueSpruce Investments LP now owns 3,930,732 shares of the restaurant operator’s stock worth $220,711,000 after buying an additional 3,914,921 shares during the period. 91.30% of the stock is owned by institutional investors.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill is a fast-casual restaurant company known for its Mexican-inspired menu of burritos, bowls, tacos and salads. Founded in 1993 by Steve Ells, the chain emphasizes fresh, customizable meals made from a limited menu of core ingredients and a focus on ingredient quality. Chipotle operates primarily company-owned restaurants and offers dine-in, takeout, catering and delivery through its own digital platforms and third-party partners.

The company is headquartered in Newport Beach, California, and traces its roots to Denver, Colorado.