Chipotle Mexican Grill’s (CMG) Market Perform Rating Reaffirmed at Wells Fargo & Company
Chipotle Mexican Grill, Inc. (NYSE:CMG)‘s stock had its “market perform” rating reiterated by analysts at Wells Fargo & Company in a research note issued to investors on Friday. They presently have a $470.00 price objective on the restaurant operator’s stock. Wells Fargo & Company’s price objective would indicate a potential upside of 26.06% from the stock’s current price.
Other equities research analysts also recently issued reports about the stock. Nomura reduced their price objective on shares of Chipotle Mexican Grill from $510.00 to $480.00 in a research report on Tuesday, June 20th. Buckingham Research reaffirmed a “buy” rating and issued a $547.00 price objective on shares of Chipotle Mexican Grill in a research report on Tuesday, April 25th. SunTrust Banks, Inc. upped their price objective on shares of Chipotle Mexican Grill from $500.00 to $550.00 and gave the stock a “buy” rating in a research report on Wednesday, April 26th. Argus raised shares of Chipotle Mexican Grill from a “hold” rating to a “buy” rating and upped their price objective for the stock from $447.88 to $550.00 in a research report on Thursday, May 25th. Finally, Vetr raised shares of Chipotle Mexican Grill from a “hold” rating to a “buy” rating and set a $498.87 price objective for the company in a research report on Tuesday, May 30th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $444.56.
Shares of Chipotle Mexican Grill (NYSE:CMG) traded down 0.57% during midday trading on Friday, reaching $372.83. 3,230,650 shares of the company traded hands. The firm has a market capitalization of $10.69 billion, a PE ratio of 115.32 and a beta of 0.64. Chipotle Mexican Grill has a 12-month low of $352.96 and a 12-month high of $499.00. The company has a 50-day moving average of $433.48 and a 200 day moving average of $435.58. Chipotle Mexican Grill also was the target of unusually large options trading activity on Tuesday. Stock investors purchased 25,703 put options on the company. This is 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 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.32. Chipotle Mexican Grill had a net margin of 2.31% and a return on equity of 7.72%. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the prior year, the firm posted ($0.88) EPS. The firm’s quarterly revenue was up 28.1% compared to the same quarter last year. On average, equities analysts forecast that Chipotle Mexican Grill will post $8.13 earnings per share for the current year.
A number of large investors have recently made changes to their positions in CMG. FNY Managed Accounts LLC purchased a new stake in shares of Chipotle Mexican Grill during the first quarter worth about $107,000. Harbour Capital Advisors LLC bought a new stake in Chipotle Mexican Grill during the first quarter valued at approximately $121,000. OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in Chipotle Mexican Grill by 84.5% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 369 shares of the restaurant operator’s stock valued at $164,000 after buying an additional 169 shares in the last quarter. Van ECK Associates Corp boosted its stake in Chipotle Mexican Grill by 6.7% in the first quarter. Van ECK Associates Corp now owns 398 shares of the restaurant operator’s stock valued at $177,000 after buying an additional 25 shares in the last quarter. Finally, Sphera Funds Management LTD. bought a new stake in Chipotle Mexican Grill during the first quarter valued at approximately $178,000. 95.62% of the stock is currently owned by institutional investors and hedge funds.
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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