Chipotle Mexican Grill (CMG) Raised to “Buy” at Cleveland Research

Chipotle Mexican Grill (NYSE:CMG) was upgraded by Cleveland Research from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Thursday, The Fly reports.

A number of other analysts have also recently weighed in on the stock. Cowen boosted their target price on shares of Chipotle Mexican Grill from $575.00 to $640.00 and gave the stock a “market perform” rating in a research note on Thursday. Telsey Advisory Group reaffirmed an “outperform” rating and set a $700.00 target price (up previously from $600.00) on shares of Chipotle Mexican Grill in a research note on Thursday. Maxim Group boosted their target price on shares of Chipotle Mexican Grill from $540.00 to $620.00 and gave the stock a “hold” rating in a research note on Wednesday. Morgan Stanley cut shares of Chipotle Mexican Grill from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $617.00 to $658.00 in a research note on Wednesday. They noted that the move was a valuation call. Finally, Wells Fargo & Co boosted their target price on shares of Chipotle Mexican Grill from $489.00 to $647.00 and gave the stock a “market perform” rating in a research note on Tuesday. Seven investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $570.70.

NYSE:CMG traded up $8.17 during mid-day trading on Thursday, reaching $696.38. The stock had a trading volume of 10,269 shares, compared to its average volume of 690,964. The stock has a market capitalization of $19.08 billion, a price-to-earnings ratio of 76.81, a price-to-earnings-growth ratio of 3.25 and a beta of 0.68. Chipotle Mexican Grill has a 12 month low of $326.00 and a 12 month high of $721.21.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data on Wednesday, February 6th. The restaurant operator reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.34. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Chipotle Mexican Grill had a net margin of 3.63% and a return on equity of 17.64%. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period last year, the firm posted $1.34 earnings per share. As a group, sell-side analysts predict that Chipotle Mexican Grill will post 12.42 EPS for the current fiscal year.

In other news, Director Pershing Square Capital Manage sold 20,000 shares of Chipotle Mexican Grill stock in a transaction on Tuesday, February 12th. The shares were sold at an average price of $594.65, for a total transaction of $11,893,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Jack Hartung sold 1,188 shares of Chipotle Mexican Grill stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $680.00, for a total transaction of $807,840.00. Following the transaction, the chief financial officer now owns 37,472 shares in the company, valued at approximately $25,480,960. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,788 shares of company stock worth $31,629,459. 2.21% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of the company. Norges Bank acquired a new position in Chipotle Mexican Grill in the fourth quarter valued at $104,491,000. AQR Capital Management LLC lifted its holdings in Chipotle Mexican Grill by 2,464.4% in the third quarter. AQR Capital Management LLC now owns 218,202 shares of the restaurant operator’s stock valued at $99,177,000 after buying an additional 209,693 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Chipotle Mexican Grill by 101.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 307,230 shares of the restaurant operator’s stock valued at $132,659,000 after buying an additional 154,428 shares during the period. American Century Companies Inc. lifted its holdings in Chipotle Mexican Grill by 42.3% in the fourth quarter. American Century Companies Inc. now owns 443,485 shares of the restaurant operator’s stock valued at $191,492,000 after buying an additional 131,803 shares during the period. Finally, TIAA CREF Investment Management LLC lifted its holdings in Chipotle Mexican Grill by 49.0% in the third quarter. TIAA CREF Investment Management LLC now owns 331,713 shares of the restaurant operator’s stock valued at $150,770,000 after buying an additional 109,062 shares during the period. Institutional investors own 93.07% of the company’s stock.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill, Inc, together with its subsidiaries, operates Chipotle Mexican Grill restaurants. As of December 31, 2018, it operated approximately 2,500 restaurants in the United States, Canada, the United Kingdom, France, and Germany. The company was founded in 1993 and is headquartered in Newport Beach, California.

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Analyst Recommendations for Chipotle Mexican Grill (NYSE:CMG)

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