Chipotle Mexican Grill (CMG) Lifted to Overweight at Morgan Stanley

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Morgan Stanley upgraded shares of Chipotle Mexican Grill (NYSE:CMG) from an equal weight rating to an overweight rating in a research note issued to investors on Wednesday morning, Marketbeat.com reports. Morgan Stanley currently has $600.00 target price on the restaurant operator’s stock, up from their prior target price of $413.00.

A number of other analysts have also recently weighed in on CMG. Zacks Investment Research upgraded shares of Chipotle Mexican Grill from a hold rating to a buy rating and set a $512.00 price target for the company in a research note on Monday, July 16th. Royal Bank of Canada increased their price target on shares of Chipotle Mexican Grill to $340.00 and gave the stock a market perform rating in a research note on Tuesday, April 17th. Piper Jaffray Companies increased their price target on shares of Chipotle Mexican Grill from $420.00 to $530.00 and gave the stock an overweight rating in a research note on Monday, May 14th. SunTrust Banks increased their price target on shares of Chipotle Mexican Grill to $410.00 and gave the stock a buy rating in a research note on Thursday, April 26th. Finally, Bank of America increased their price target on shares of Chipotle Mexican Grill from $310.00 to $350.00 and gave the stock an underperform rating in a research note on Tuesday, June 26th. Five research analysts have rated the stock with a sell rating, twenty have given a hold rating and eleven have issued a buy rating to the stock. The company has an average rating of Hold and an average price target of $415.49.

NYSE CMG opened at $510.44 on Wednesday. The firm has a market capitalization of $13.50 billion, a P/E ratio of 77.34, a P/E/G ratio of 3.25 and a beta of 0.41. Chipotle Mexican Grill has a 12 month low of $247.51 and a 12 month high of $530.68.

Several hedge funds have recently added to or reduced their stakes in the company. Sumitomo Mitsui Asset Management Company LTD lifted its stake in shares of Chipotle Mexican Grill by 7.0% in the 2nd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 1,748 shares of the restaurant operator’s stock worth $754,000 after acquiring an additional 115 shares during the period. Gagnon Securities LLC lifted its stake in shares of Chipotle Mexican Grill by 2.6% in the 1st quarter. Gagnon Securities LLC now owns 4,618 shares of the restaurant operator’s stock worth $1,492,000 after acquiring an additional 118 shares during the period. Carnegie Capital Asset Management LLC lifted its stake in shares of Chipotle Mexican Grill by 7.1% in the 2nd quarter. Carnegie Capital Asset Management LLC now owns 2,252 shares of the restaurant operator’s stock worth $1,111,000 after acquiring an additional 150 shares during the period. X Square Capital LLC increased its holdings in shares of Chipotle Mexican Grill by 2.7% in the 1st quarter. X Square Capital LLC now owns 5,890 shares of the restaurant operator’s stock valued at $1,903,000 after purchasing an additional 155 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of Chipotle Mexican Grill by 2.5% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 7,216 shares of the restaurant operator’s stock valued at $3,113,000 after purchasing an additional 177 shares in the last quarter. Institutional investors own 86.34% of the company’s stock.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc, together with its subsidiaries, operates Chipotle Mexican Grill restaurants. As of December 31, 2017, it operated 2,363 Chipotle restaurants throughout the United States, as well as 37 international Chipotle restaurants; and 8 non-Chipotle restaurants. The company was founded in 1993 and is based in Denver, Colorado.

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Analyst Recommendations for Chipotle Mexican Grill (NYSE:CMG)

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