Chipotle Mexican Grill (NYSE:CMG) Upgraded by Zacks Research to “Hold” Rating

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

A number of other research firms also recently weighed in on CMG. BMO Capital Markets restated an “outperform” rating on shares of Chipotle Mexican Grill in a research report on Thursday, October 30th. Barclays decreased their price objective on Chipotle Mexican Grill from $43.00 to $38.00 and set an “equal weight” rating on the stock in a report on Thursday, October 30th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $40.00 target price (down previously from $60.00) on shares of Chipotle Mexican Grill in a research note on Thursday, October 30th. Rothschild & Co Redburn raised shares of Chipotle Mexican Grill from a “neutral” rating to a “buy” rating and set a $55.00 price target on the stock in a research note on Wednesday, September 3rd. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $45.00 price objective on shares of Chipotle Mexican Grill in a research note on Friday, December 19th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, Chipotle Mexican Grill currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.81.

Chipotle Mexican Grill Price Performance

Shares of Chipotle Mexican Grill stock opened at $37.04 on Monday. The company has a 50 day simple moving average of $34.64 and a two-hundred day simple moving average of $41.69. The firm has a market cap of $48.98 billion, a PE ratio of 32.78, a PEG ratio of 3.79 and a beta of 0.99. Chipotle Mexican Grill has a 1 year low of $29.75 and a 1 year high of $61.16.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings data on Wednesday, October 29th. The restaurant operator reported $0.29 earnings per share for the quarter, meeting the consensus estimate of $0.29. Chipotle Mexican Grill had a net margin of 13.04% and a return on equity of 45.39%. The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter last year, the company posted $0.27 EPS. The business’s quarterly revenue was up 7.5% on a year-over-year basis. As a group, research analysts anticipate that Chipotle Mexican Grill will post 1.29 earnings per share for the current year.

Institutional Trading of Chipotle Mexican Grill

Large investors have recently modified their holdings of the business. Operose Advisors LLC purchased a new stake in Chipotle Mexican Grill in the 2nd quarter worth approximately $25,000. Financial Life Planners bought a new position in shares of Chipotle Mexican Grill during the third quarter valued at approximately $25,000. Wealth Watch Advisors INC bought a new position in shares of Chipotle Mexican Grill during the third quarter valued at approximately $25,000. Salomon & Ludwin LLC purchased a new stake in Chipotle Mexican Grill in the third quarter worth $26,000. Finally, 1248 Management LLC bought a new stake in shares of Chipotle Mexican Grill during the 1st quarter valued at about $27,000. 91.30% of the stock is owned by institutional investors.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill is a fast-casual restaurant company known for its Mexican-inspired menu of burritos, bowls, tacos and salads. Founded in 1993 by Steve Ells, the chain emphasizes fresh, customizable meals made from a limited menu of core ingredients and a focus on ingredient quality. Chipotle operates primarily company-owned restaurants and offers dine-in, takeout, catering and delivery through its own digital platforms and third-party partners.

The company is headquartered in Newport Beach, California, and traces its roots to Denver, Colorado.