Chipotle Mexican Grill (CMG) Receives Neutral Rating from Credit Suisse Group
Chipotle Mexican Grill (NYSE:CMG)‘s stock had its “neutral” rating reiterated by equities researchers at Credit Suisse Group in a research report issued on Tuesday, The Fly reports. They currently have a $330.00 target price on the restaurant operator’s stock, up from their previous target price of $275.00.
Other analysts also recently issued reports about the company. William Blair reissued a “hold” rating on shares of Chipotle Mexican Grill in a research note on Monday. Telsey Advisory Group downgraded Chipotle Mexican Grill from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $370.00 to $330.00 in a research note on Wednesday, October 25th. Deutsche Bank set a $240.00 price objective on Chipotle Mexican Grill and gave the stock a “sell” rating in a research note on Wednesday, October 25th. SunTrust Banks set a $355.00 price objective on Chipotle Mexican Grill and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Finally, Wedbush reissued a “hold” rating and issued a $290.00 price objective on shares of Chipotle Mexican Grill in a research note on Wednesday, October 25th. Five research analysts have rated the stock with a sell rating, twenty-six have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Chipotle Mexican Grill presently has an average rating of “Hold” and an average price target of $361.42.
Shares of Chipotle Mexican Grill (CMG) opened at $330.00 on Tuesday. The company has a market capitalization of $9,708.45, a P/E ratio of 63.95, a PEG ratio of 2.06 and a beta of 0.50. Chipotle Mexican Grill has a 52 week low of $263.00 and a 52 week high of $499.00.
Hedge funds and other institutional investors have recently made changes to their positions in the business. First Interstate Bank grew its holdings in Chipotle Mexican Grill by 111.1% during the third quarter. First Interstate Bank now owns 475 shares of the restaurant operator’s stock valued at $146,000 after purchasing an additional 250 shares during the period. Mercer Capital Advisers Inc. bought a new position in Chipotle Mexican Grill during the third quarter valued at $183,000. Pacer Advisors Inc. grew its holdings in Chipotle Mexican Grill by 43.2% during the third quarter. Pacer Advisors Inc. now owns 713 shares of the restaurant operator’s stock valued at $219,000 after purchasing an additional 215 shares during the period. Ahrens Investment Partners LLC bought a new position in Chipotle Mexican Grill during the third quarter valued at $234,000. Finally, TLP Group LLC bought a new position in Chipotle Mexican Grill during the second quarter valued at $251,000. 88.71% of the stock is owned by institutional investors and hedge funds.
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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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