Chipotle Mexican Grill’s (NYSE:CMG) Buy Rating Reaffirmed at Maxim Group
Maxim Group reiterated their buy rating on shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) in a research report sent to investors on Wednesday morning. They currently have a $435.00 price target on the restaurant operator’s stock, down from their previous price target of $470.00.
CMG has been the topic of a number of other research reports. Vetr raised Chipotle Mexican Grill from a hold rating to a buy rating and set a $498.87 price target on the stock in a research note on Tuesday, May 30th. Raymond James Financial, Inc. reissued an underperform rating on shares of Chipotle Mexican Grill in a research note on Tuesday, June 20th. Deutsche Bank AG reissued a sell rating and set a $350.00 price target (up previously from $300.00) on shares of Chipotle Mexican Grill in a research note on Monday, July 10th. Wells Fargo & Company reissued a market perform rating and set a $470.00 price target on shares of Chipotle Mexican Grill in a research note on Friday, July 14th. Finally, Goldman Sachs Group, Inc. (The) reduced their price target on Chipotle Mexican Grill from $440.00 to $375.00 and set a neutral rating on the stock in a research note on Tuesday, July 25th. Eight equities research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Chipotle Mexican Grill has a consensus rating of Hold and an average target price of $405.15.
Shares of Chipotle Mexican Grill (NYSE:CMG) opened at 350.50 on Wednesday. The firm has a 50-day moving average price of $405.60 and a 200-day moving average price of $432.38. Chipotle Mexican Grill has a 52-week low of $336.52 and a 52-week high of $499.00. The stock has a market cap of $9.99 billion, a P/E ratio of 75.34 and a beta of 0.64.
Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings results on Tuesday, July 25th. The restaurant operator reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.16. Chipotle Mexican Grill had a return on equity of 10.65% and a net margin of 3.17%. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the company posted $0.87 EPS. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. On average, analysts anticipate that Chipotle Mexican Grill will post $7.78 EPS for the current fiscal year.
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Several large investors have recently added to or reduced their stakes in the stock. Nationwide Fund Advisors boosted its stake in Chipotle Mexican Grill by 1.4% in the first quarter. Nationwide Fund Advisors now owns 8,077 shares of the restaurant operator’s stock worth $3,598,000 after buying an additional 112 shares during the period. Scout Investments Inc. acquired a new stake in Chipotle Mexican Grill during the first quarter worth $12,331,000. TIAA CREF Investment Management LLC boosted its stake in Chipotle Mexican Grill by 3.1% in the first quarter. TIAA CREF Investment Management LLC now owns 322,802 shares of the restaurant operator’s stock worth $143,815,000 after buying an additional 9,751 shares during the period. Wellington Management Group LLP boosted its stake in Chipotle Mexican Grill by 46.3% in the first quarter. Wellington Management Group LLP now owns 308,697 shares of the restaurant operator’s stock worth $137,530,000 after buying an additional 97,750 shares during the period. Finally, Sei Investments Co. boosted its stake in Chipotle Mexican Grill by 0.5% in the first quarter. Sei Investments Co. now owns 3,765 shares of the restaurant operator’s stock worth $1,678,000 after buying an additional 19 shares during the period. 95.71% of the stock is currently 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.
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