Zacks Investment Research upgraded shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) from a strong sell rating to a hold rating in a research note published on Thursday.

According to Zacks, “Chipotle’s third-quarter adjusted earnings of $1.33 per share lagged the Zacks Consensus Estimate by 14.7% but rose notably on a year-over-year basis. Revenues increased 8.8% to $1.128 billion and were almost in line with the consensus mark. Comps grew a mere 1% in the quarter despite the highly-anticipated nationwide roll-out of queso cheese dip. We note that 2017 has been a challenging year for Chipotle. Though initially sales somewhat recovered from the massive food safety scandal, which surfaced toward 2015-end, a fresh round of food-safety scare this summer once again raised alarming questions. In fact, Chipotle shares have underperformed the industry year to date. Even so, continued focus on food safety, simplifying restaurant operations, new menu items, enhancing digital orders and brand marketing is likely to draw customers. Still, higher costs are likely to impact margins, while a soft industry backdrop might limit revenue growth.”

Other equities analysts have also recently issued reports about the company. BTIG Research restated a neutral rating on shares of Chipotle Mexican Grill in a research report on Friday, July 21st. Bank of America Corporation restated a neutral rating and set a $390.00 target price (down from $425.00) on shares of Chipotle Mexican Grill in a research report on Wednesday, July 26th. Wells Fargo & Company cut Chipotle Mexican Grill from an outperform rating to a market perform rating and reduced their target price for the stock from $470.00 to $375.00 in a research report on Wednesday, July 19th. They noted that the move was a valuation call. Tigress Financial restated a neutral rating on shares of Chipotle Mexican Grill in a research report on Saturday, July 22nd. Finally, Royal Bank Of Canada restated a sector perform rating and set a $400.00 target price (down from $500.00) on shares of Chipotle Mexican Grill in a research report on Wednesday, July 26th. Seven investment analysts have rated the stock with a sell rating, twenty-three have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $356.06.

Chipotle Mexican Grill (NYSE:CMG) traded up $6.14 during trading hours on Thursday, hitting $289.84. The company had a trading volume of 1,277,148 shares, compared to its average volume of 1,167,687. Chipotle Mexican Grill has a 12 month low of $263.00 and a 12 month high of $499.00. The company has a market cap of $8,010.00, a price-to-earnings ratio of 48.43, a price-to-earnings-growth ratio of 2.42 and a beta of 0.44.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings data on Tuesday, October 24th. The restaurant operator reported $1.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.91). Chipotle Mexican Grill had a net margin of 3.37% and a return on equity of 11.80%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the firm posted $0.56 earnings per share. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. equities analysts forecast that Chipotle Mexican Grill will post 6.64 EPS for the current fiscal year.

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A number of institutional investors and hedge funds have recently modified their holdings of the business. Tufton Capital Management boosted its stake in Chipotle Mexican Grill by 1.3% during the 2nd quarter. Tufton Capital Management now owns 804 shares of the restaurant operator’s stock valued at $335,000 after purchasing an additional 10 shares during the last quarter. Cutter & CO Brokerage Inc. boosted its stake in shares of Chipotle Mexican Grill by 1.3% in the 2nd quarter. Cutter & CO Brokerage Inc. now owns 763 shares of the restaurant operator’s stock worth $317,000 after buying an additional 10 shares during the last quarter. Simmons Bank boosted its stake in shares of Chipotle Mexican Grill by 1.1% in the 2nd quarter. Simmons Bank now owns 1,257 shares of the restaurant operator’s stock worth $523,000 after buying an additional 14 shares during the last quarter. Highland Capital Management LLC boosted its stake in shares of Chipotle Mexican Grill by 0.6% in the 2nd quarter. Highland Capital Management LLC now owns 2,961 shares of the restaurant operator’s stock worth $1,232,000 after buying an additional 18 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its stake in shares of Chipotle Mexican Grill by 6.2% in the 2nd quarter. Pacer Advisors Inc. now owns 498 shares of the restaurant operator’s stock worth $207,000 after buying an additional 29 shares during the last quarter. Institutional investors and hedge funds own 90.72% of the company’s stock.

Chipotle Mexican Grill Company Profile

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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