TD Securities Reaffirms Buy Rating for Chipotle Mexican Grill (NYSE:CMG)

Chipotle Mexican Grill (NYSE:CMG)‘s stock had its “buy” rating reaffirmed by investment analysts at TD Securities in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $57.00 price objective on the restaurant operator’s stock. TD Securities’ target price indicates a potential upside of 10.92% from the stock’s previous close.

Several other research analysts also recently issued reports on CMG. Argus downgraded Chipotle Mexican Grill from a “buy” rating to a “hold” rating in a research note on Monday, April 28th. Loop Capital lowered their price objective on Chipotle Mexican Grill from $65.00 to $63.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. KeyCorp lowered their price objective on Chipotle Mexican Grill from $60.00 to $58.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Evercore ISI lowered their price objective on Chipotle Mexican Grill from $64.00 to $57.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. Finally, Robert W. Baird lowered their price objective on Chipotle Mexican Grill from $62.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. Ten analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $61.37.

Chipotle Mexican Grill Trading Down 2.2%

Shares of NYSE CMG opened at $51.39 on Wednesday. The company has a market cap of $69.24 billion, a price-to-earnings ratio of 45.48, a PEG ratio of 2.61 and a beta of 1.06. Chipotle Mexican Grill has a 12 month low of $44.46 and a 12 month high of $69.26. The stock has a 50-day moving average price of $50.52 and a two-hundred day moving average price of $54.14.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Wednesday, April 23rd. The restaurant operator reported $0.29 EPS for the quarter, topping the consensus estimate of $0.28 by $0.01. The firm had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.98 billion. Chipotle Mexican Grill had a return on equity of 43.29% and a net margin of 13.59%. The business’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $13.37 earnings per share. On average, sell-side analysts predict that Chipotle Mexican Grill will post 1.29 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Roger E. Theodoredis sold 113,875 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $49.70, for a total value of $5,659,587.50. Following the transaction, the insider now directly owns 109,815 shares in the company, valued at $5,457,805.50. This trade represents a 50.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

A number of large investors have recently modified their holdings of CMG. Cloud Capital Management LLC purchased a new stake in Chipotle Mexican Grill in the 1st quarter valued at $25,000. Saudi Central Bank purchased a new stake in Chipotle Mexican Grill in the 1st quarter valued at $27,000. 1248 Management LLC purchased a new stake in Chipotle Mexican Grill in the 1st quarter valued at $27,000. HighMark Wealth Management LLC raised its position in Chipotle Mexican Grill by 173.4% in the 1st quarter. HighMark Wealth Management LLC now owns 585 shares of the restaurant operator’s stock valued at $29,000 after buying an additional 371 shares during the last quarter. Finally, North Capital Inc. purchased a new stake in Chipotle Mexican Grill in the 1st quarter valued at $30,000. 91.31% of the stock is currently owned by institutional investors.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. It sells food and beverages through offering burritos, burrito bowls, quesadillas, tacos, and salads. The company also provides delivery and related services its app and website. It has operations in the United States, Canada, France, Germany, and the United Kingdom.