Recent Analysts’ Ratings Changes for Chipotle Mexican Grill (CMG)

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Several brokerages have updated their recommendations and price targets on shares of Chipotle Mexican Grill (NYSE: CMG) in the last few weeks:

  • 8/28/2018 – Chipotle Mexican Grill had its “hold” rating reaffirmed by analysts at Maxim Group. They now have a $500.00 price target on the stock, up previously from $430.00. They 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.””
  • 8/27/2018 – Chipotle Mexican Grill was downgraded by analysts at Wedbush from a “neutral” rating to an “underperform” rating. They now have a $445.00 price target on the stock, down previously from $450.00.
  • 8/23/2018 – Chipotle Mexican Grill had its “hold” rating reaffirmed by analysts at William Blair.
  • 8/15/2018 – Chipotle Mexican Grill was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating. They now have a $600.00 price target on the stock, up previously from $413.00.
  • 8/15/2018 – Chipotle Mexican Grill had its price target raised by analysts at Citigroup Inc from $506.00 to $573.00. They now have a “buy” rating on the stock.
  • 8/1/2018 – Chipotle Mexican Grill had its “hold” rating reaffirmed by analysts at William Blair.
  • 7/31/2018 – Chipotle Mexican Grill was upgraded by analysts at Jefferies Financial Group Inc from a “hold” rating to a “buy” rating.
  • 7/30/2018 – Chipotle Mexican Grill was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Shares of Chipotle have outperformed the industry over the past year. We expect the company to remain on this growth trajectory after its second-quarter 2018 earnings and revenues surpassed the Zacks Consensus Estimate. Adjusted earnings grew 23.7% from the year-ago quarter, driven by higher revenues and lower food costs. Despite having a good share of negative publicity from a food-borne illness, Chipotle’s viable business strategy and the appointment of Brian Niccol have significantly helped its second-quarter earnings. Quarterly revenues increased 8.3% year over year in the second quarter, attributable to the improvement in comps and restaurant openings. Chipotle's increased focus on food safety and enhancing customer experience, along with various sales-building and strategic initiatives, are likely to drive the top line while high costs and intense competition may be concerning in the future.”
  • 7/27/2018 – Chipotle Mexican Grill had its price target raised by analysts at Royal Bank of Canada to $450.00. They now have a “sector perform” rating on the stock. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 7/27/2018 – Chipotle Mexican Grill had its price target raised by analysts at Wells Fargo & Co from $405.00 to $418.00. They now have a “market perform” rating on the stock.
  • 7/27/2018 – Chipotle Mexican Grill had its price target raised by analysts at BMO Capital Markets from $350.00 to $420.00. They now have a “market perform” rating on the stock. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 7/27/2018 – Chipotle Mexican Grill had its price target raised by analysts at Stifel Nicolaus from $325.00 to $450.00. They now have a “hold” rating on the stock.
  • 7/27/2018 – Chipotle Mexican Grill had its price target raised by analysts at Maxim Group from $420.00 to $430.00. They now have a “hold” rating on the stock.
  • 7/27/2018 – Chipotle Mexican Grill had its price target raised by analysts at Morgan Stanley from $398.00 to $413.00. They now have an “equal weight” rating on the stock.
  • 7/27/2018 – Chipotle Mexican Grill had its “buy” rating reaffirmed by analysts at Robert W. Baird. They now have a $535.00 price target on the stock.
  • 7/27/2018 – Chipotle Mexican Grill had its price target raised by analysts at Canaccord Genuity from $500.00 to $550.00. They now have a “buy” rating on the stock.
  • 7/16/2018 – Chipotle Mexican Grill had its price target raised by analysts at Morgan Stanley from $372.00 to $398.00. They now have an “equal weight” rating on the stock.
  • 7/16/2018 – Chipotle Mexican Grill was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $512.00 price target on the stock. According to Zacks, “Shares of Chipotle have outperformed the industry over the past year. We expect the company to remain on this growth trajectory given its increased focus on food safety. Despite having a good share of negative publicity from a food-borne illness, Chipotle’s viable business strategy and the appointment of Brian Niccol have significantly helped its first-quarter earnings. Quarterly revenues increased year over year in the first quarter, attributable to improvement in comps and restaurant openings. Earnings estimates for the current year have also moved northward, reflecting analysts’ confidence surrounding the company’s future earnings growth potential. Chipotle’s efforts in enhancing customer experience, along with various sales-building and strategic initiatives are likely to drive the top line, while high costs may pose a concern.”
  • 7/12/2018 – Chipotle Mexican Grill had its price target raised by analysts at Jefferies Financial Group Inc to $400.00. They now have a “hold” rating on the stock.
  • 7/10/2018 – Chipotle Mexican Grill was downgraded by analysts at Mizuho from a “neutral” rating to an “underperform” rating. They now have a $330.00 price target on the stock, up previously from $300.00.
  • 7/10/2018 – Chipotle Mexican Grill was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.

NYSE CMG opened at $483.99 on Friday. The firm has a market capitalization of $13.74 billion, a price-to-earnings ratio of 73.33, a P/E/G ratio of 3.32 and a beta of 0.41. Chipotle Mexican Grill, Inc. has a 12-month low of $247.51 and a 12-month high of $530.68.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings results on Thursday, July 26th. The restaurant operator reported $2.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.78 by $0.09. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Chipotle Mexican Grill had a net margin of 3.65% and a return on equity of 15.64%. sell-side analysts expect that Chipotle Mexican Grill, Inc. will post 8.6 EPS for the current year.

In other Chipotle Mexican Grill news, Director Pershing Square Capital Manage sold 823,357 shares of the firm’s stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $487.29, for a total value of $401,213,632.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.19% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp raised its holdings in shares of Chipotle Mexican Grill by 15.8% during the second quarter. Bank of New York Mellon Corp now owns 336,486 shares of the restaurant operator’s stock worth $145,149,000 after purchasing an additional 45,936 shares during the last quarter. Odey Asset Management Group Ltd purchased a new position in shares of Chipotle Mexican Grill during the second quarter worth $2,588,000. WINTON GROUP Ltd raised its holdings in shares of Chipotle Mexican Grill by 59.1% during the second quarter. WINTON GROUP Ltd now owns 30,771 shares of the restaurant operator’s stock worth $13,274,000 after purchasing an additional 11,427 shares during the last quarter. Bristol John W & Co. Inc. NY purchased a new position in shares of Chipotle Mexican Grill during the second quarter worth $32,548,000. Finally, M Holdings Securities Inc. purchased a new position in shares of Chipotle Mexican Grill during the second quarter worth $402,000. 88.06% of the stock is owned by hedge funds and other institutional investors.

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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