Chipotle Mexican Grill, Inc. (CMG) Receives “Buy” Rating from Maxim Group
Maxim Group reaffirmed their buy rating on shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) in a research note issued to investors on Thursday. They currently have a $435.00 price objective on the restaurant operator’s stock.
“We maintain our Buy rating and $435 price target on Chipotle Mexican Grill (CMG) as 3Q17 (September) nears an end.”,” the firm’s analyst commented.
Other equities research analysts have also issued reports about the company. Nomura decreased their target price on Chipotle Mexican Grill from $510.00 to $480.00 in a research report on Tuesday, June 20th. Mizuho started coverage on Chipotle Mexican Grill in a research report on Thursday, June 8th. They set a buy rating and a $533.00 target price for the company. Vetr raised Chipotle Mexican Grill from a hold rating to a buy rating and set a $498.87 target price for the company in a research report on Tuesday, May 30th. Argus raised Chipotle Mexican Grill from a hold rating to a buy rating and raised their target price for the company from $447.88 to $550.00 in a research report on Thursday, May 25th. Finally, BMO Capital Markets reaffirmed a buy rating and set a $550.00 target price on shares of Chipotle Mexican Grill in a research report on Thursday, June 22nd. Six analysts have rated the stock with a sell rating, twenty-three have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $398.97.
Chipotle Mexican Grill (CMG) opened at 314.31 on Thursday. Chipotle Mexican Grill has a one year low of $295.11 and a one year high of $499.00. The firm has a market capitalization of $8.96 billion, a P/E ratio of 67.56 and a beta of 0.64. The company’s 50-day moving average is $318.10 and its 200-day moving average is $407.26.
Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings results on Tuesday, July 25th. The restaurant operator reported $2.32 EPS for the quarter, beating 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 business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the firm posted $0.87 EPS. Chipotle Mexican Grill’s quarterly revenue was up 17.1% compared to the same quarter last year. Equities analysts forecast that Chipotle Mexican Grill will post $7.59 earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Andra AP fonden boosted its holdings in Chipotle Mexican Grill by 67.9% in the second quarter. Andra AP fonden now owns 4,700 shares of the restaurant operator’s stock worth $1,956,000 after acquiring an additional 1,900 shares in the last quarter. Chilton Investment Co. LLC bought a new stake in Chipotle Mexican Grill in the second quarter worth $10,040,000. Birinyi Associates Inc. boosted its holdings in Chipotle Mexican Grill by 70.0% in the second quarter. Birinyi Associates Inc. now owns 3,400 shares of the restaurant operator’s stock worth $1,415,000 after acquiring an additional 1,400 shares in the last quarter. Allen Investment Management LLC bought a new stake in Chipotle Mexican Grill in the second quarter worth $493,000. Finally, Sustainable Growth Advisers LP boosted its holdings in Chipotle Mexican Grill by 5.6% in the second quarter. Sustainable Growth Advisers LP now owns 357,539 shares of the restaurant operator’s stock worth $148,772,000 after acquiring an additional 18,856 shares in the last quarter. Institutional investors own 90.08% of the company’s stock.
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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