Chipotle Mexican Grill (NYSE:CMG)‘s stock had its “hold” rating reiterated by equities research analysts at Maxim Group in a research report issued on Tuesday, MarketBeat.com reports. They currently have a $500.00 target price on the restaurant operator’s stock, up from their previous target price of $430.00. Maxim Group’s price target indicates a potential upside of 2.53% from the stock’s current price.
The analysts wrote, “We maintain our Hold rating on Chipotle Mexican Grill (CMG), though raise our price target to $500, from $430, to reflect the shift in our base valuation year to 2020.””
Several other brokerages have also issued reports on CMG. Wells Fargo & Co lifted their target price on shares of Chipotle Mexican Grill from $405.00 to $418.00 and gave the company a “market perform” rating in a research report on Friday, July 27th. TheStreet upgraded shares of Chipotle Mexican Grill from a “c+” rating to a “b-” rating in a research report on Thursday, June 14th. William Blair reiterated a “hold” rating on shares of Chipotle Mexican Grill in a research report on Wednesday, August 1st. Wedbush lowered shares of Chipotle Mexican Grill from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $450.00 to $445.00 in a research report on Monday. Finally, Argus upgraded shares of Chipotle Mexican Grill from a “hold” rating to a “buy” rating and lifted their target price for the company from $247.52 to $496.14 in a research report on Wednesday, May 16th. Six analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $417.73.
CMG stock opened at $487.65 on Tuesday. Chipotle Mexican Grill has a 12 month low of $247.51 and a 12 month high of $530.68. The company has a market capitalization of $13.78 billion, a PE ratio of 64.61, a PEG ratio of 3.32 and a beta of 0.41.
Chipotle Mexican Grill (NYSE:CMG) last announced its earnings results on Thursday, July 26th. The restaurant operator reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.78 by $0.09. Chipotle Mexican Grill had a net margin of 3.65% and a return on equity of 15.64%. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.26 billion. analysts predict that Chipotle Mexican Grill will post 8.6 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its holdings in shares of Chipotle Mexican Grill by 15.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 336,486 shares of the restaurant operator’s stock worth $145,149,000 after acquiring an additional 45,936 shares during the last quarter. Odey Asset Management Group Ltd bought a new stake in shares of Chipotle Mexican Grill in the 2nd quarter worth approximately $2,588,000. WINTON GROUP Ltd lifted its holdings in shares of Chipotle Mexican Grill by 59.1% in the 2nd quarter. WINTON GROUP Ltd now owns 30,771 shares of the restaurant operator’s stock worth $13,274,000 after acquiring an additional 11,427 shares during the last quarter. Bristol John W & Co. Inc. NY bought a new stake in shares of Chipotle Mexican Grill in the 2nd quarter worth approximately $32,548,000. Finally, M Holdings Securities Inc. bought a new stake in shares of Chipotle Mexican Grill in the 2nd quarter worth approximately $402,000. Hedge funds and other institutional investors own 88.06% 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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