Maxim Group upgraded shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) from a hold rating to a buy rating in a research report released on Tuesday, MarketBeat.com reports. Maxim Group currently has $470.00 target price on the restaurant operator’s stock, up from their prior target price of $440.00.

“We upgrade shares of Chipotle Mexican Grill (CMG) to Buy, from Hold and increase our price target to $470, from $440 ahead of the release of 2Q17 (June) earnings on Tuesday, July 25.”,” the firm’s analyst wrote.

Several other research analysts have also recently issued reports on the company. UBS AG reissued a neutral rating and issued a $410.00 price target on shares of Chipotle Mexican Grill in a research note on Wednesday, March 29th. Barclays PLC increased their price target on Chipotle Mexican Grill from $395.00 to $415.00 and gave the stock an equal weight rating in a research note on Wednesday, April 26th. J P Morgan Chase & Co increased their price target on Chipotle Mexican Grill from $365.00 to $420.00 and gave the stock a neutral rating in a research note on Wednesday, April 26th. Cowen and Company increased their price target on Chipotle Mexican Grill from $375.00 to $440.00 and gave the stock a market perform rating in a research note on Wednesday, April 26th. Finally, Vetr raised Chipotle Mexican Grill from a sell rating to a hold rating and set a $493.69 price target for the company in a research note on Monday, May 15th. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Chipotle Mexican Grill presently has an average rating of Hold and an average target price of $448.00.

Chipotle Mexican Grill (NYSE:CMG) traded up 0.03% during trading on Tuesday, reaching $375.08. 1,963,812 shares of the company were exchanged. Chipotle Mexican Grill has a 52-week low of $352.96 and a 52-week high of $499.00. The stock has a market capitalization of $10.75 billion, a PE ratio of 116.02 and a beta of 0.64. The firm’s 50 day moving average is $433.48 and its 200 day moving average is $435.58. Chipotle Mexican Grill also was the recipient of unusually large options trading on Tuesday. Stock investors bought 25,703 put options on the company. This represents an increase of 307% compared to the average daily volume of 6,322 put options.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings data on Tuesday, April 25th. The restaurant operator reported $1.60 EPS for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.32. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.05 billion. Chipotle Mexican Grill had a return on equity of 7.72% and a net margin of 2.31%. The firm’s revenue was up 28.1% on a year-over-year basis. During the same period in the prior year, the business earned ($0.88) EPS. Analysts expect that Chipotle Mexican Grill will post $8.13 EPS for the current year.

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Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Chipotle Mexican Grill by 2.6% in the first quarter. Vanguard Group Inc. now owns 2,719,423 shares of the restaurant operator’s stock valued at $1,211,558,000 after buying an additional 69,007 shares during the period. BlackRock Inc. boosted its stake in Chipotle Mexican Grill by 3,309.6% in the first quarter. BlackRock Inc. now owns 2,424,479 shares of the restaurant operator’s stock valued at $1,080,155,000 after buying an additional 2,353,372 shares during the period. State Street Corp boosted its stake in Chipotle Mexican Grill by 3.7% in the first quarter. State Street Corp now owns 1,237,517 shares of the restaurant operator’s stock valued at $551,348,000 after buying an additional 44,694 shares during the period. Clearbridge Investments LLC boosted its stake in Chipotle Mexican Grill by 13.7% in the first quarter. Clearbridge Investments LLC now owns 359,366 shares of the restaurant operator’s stock valued at $160,105,000 after buying an additional 43,396 shares during the period. Finally, American Century Companies Inc. boosted its stake in Chipotle Mexican Grill by 26.5% in the first quarter. American Century Companies Inc. now owns 352,826 shares of the restaurant operator’s stock valued at $157,191,000 after buying an additional 73,914 shares during the period. 95.62% of the stock is owned by institutional investors.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc (Chipotle), together with its subsidiaries, operates Chipotle Mexican Grill restaurants. The Company’s Chipotle Mexican Grill restaurants serve a menu of burritos, tacos, burrito bowls (a burrito without the tortilla) and salads. As of December 31, 2016, the Company managed its operations and restaurants based on 11 regions.

Analyst Recommendations for Chipotle Mexican Grill (NYSE:CMG)

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