Chipotle Mexican Grill (CMG) Price Target Increased to $540.00 by Analysts at Maxim Group
Chipotle Mexican Grill (NYSE:CMG) had its target price boosted by investment analysts at Maxim Group to $540.00 in a report issued on Thursday, The Fly reports. The firm presently has a “hold” rating on the restaurant operator’s stock. Maxim Group’s target price would indicate a potential upside of 2.65% from the stock’s previous close.
The analysts wrote, “We maintain our Hold rating on Chipotle Mexican Grill (CMG), though raise our price target to $540, from $510, following a triple-beat 4Q18 (December). 4Q18 pro forma EPS of $1.72 were below our $1.92 pro forma estimate, but well-above the $1.40 consensus.””
Several other equities analysts have also issued reports on the stock. Canaccord Genuity reaffirmed a “hold” rating on shares of Chipotle Mexican Grill in a report on Wednesday, November 14th. Bank of America set a $340.00 price target on shares of Chipotle Mexican Grill and gave the stock a “sell” rating in a report on Friday, October 26th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $500.00 price target (up from $465.00) on shares of Chipotle Mexican Grill in a report on Friday, January 11th. Barclays lifted their price target on shares of Chipotle Mexican Grill from $360.00 to $400.00 and gave the stock an “equal weight” rating in a report on Friday, October 26th. Finally, TheStreet lowered shares of Chipotle Mexican Grill from a “b-” rating to a “c” rating in a report on Thursday, October 25th. Nine equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $469.10.
Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings results on Wednesday, February 6th. The restaurant operator reported $1.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $0.34. Chipotle Mexican Grill had a net margin of 3.96% and a return on equity of 17.14%. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the firm posted $1.34 earnings per share. The company’s revenue was up 10.4% on a year-over-year basis. On average, sell-side analysts expect that Chipotle Mexican Grill will post 8.53 EPS for the current fiscal year.
Large investors have recently bought and sold shares of the business. Huntington National Bank boosted its holdings in Chipotle Mexican Grill by 19.9% in the fourth quarter. Huntington National Bank now owns 169 shares of the restaurant operator’s stock valued at $73,000 after purchasing an additional 28 shares during the last quarter. Clean Yield Group purchased a new stake in Chipotle Mexican Grill in the fourth quarter valued at $86,000. We Are One Seven LLC purchased a new stake in Chipotle Mexican Grill in the fourth quarter valued at $96,000. Korea Investment CORP boosted its holdings in Chipotle Mexican Grill by 45.4% in the third quarter. Korea Investment CORP now owns 391 shares of the restaurant operator’s stock valued at $178,000 after purchasing an additional 122 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new stake in Chipotle Mexican Grill in the fourth quarter valued at $190,000. 91.58% of the stock is currently owned by institutional investors.
About Chipotle Mexican Grill
Chipotle Mexican Grill, Inc, together with its subsidiaries, operates Chipotle Mexican Grill restaurants. As of September 30, 2018, it operated 2,424 Chipotle restaurants in the United States, as well as 37 international Chipotle restaurants. The company was founded in 1993 and is headquartered in Newport Beach, California.
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