BTIG Research Reiterates Buy Rating for Chipotle Mexican Grill (NYSE:CMG)

Chipotle Mexican Grill (NYSE:CMG)‘s stock had its “buy” rating restated by equities research analysts at BTIG Research in a report issued on Wednesday,Benzinga reports. They currently have a $45.00 price objective on the restaurant operator’s stock. BTIG Research’s target price suggests a potential upside of 32.92% from the company’s current price.

A number of other analysts have also commented on the company. Evercore reiterated an “outperform” rating and set a $47.00 price target on shares of Chipotle Mexican Grill in a report on Thursday, July 30th. Guggenheim reaffirmed a “neutral” rating and set a $36.00 target price (up from $35.00) on shares of Chipotle Mexican Grill in a research report on Friday. DA Davidson lifted their target price on Chipotle Mexican Grill from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. TD Cowen reissued a “buy” rating and issued a $44.00 price target on shares of Chipotle Mexican Grill in a report on Thursday, July 30th. Finally, JPMorgan Chase & Co. upgraded shares of Chipotle Mexican Grill from a “neutral” rating to an “overweight” rating and reduced their price target for the company from $38.00 to $35.00 in a research report on Friday, June 5th. Twenty-four analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $44.16.

Chipotle Mexican Grill Stock Performance

NYSE:CMG opened at $33.86 on Wednesday. Chipotle Mexican Grill has a 52 week low of $28.03 and a 52 week high of $44.27. The firm has a 50-day moving average price of $32.97 and a two-hundred day moving average price of $34.52. The firm has a market cap of $42.84 billion, a price-to-earnings ratio of 31.06, a price-to-earnings-growth ratio of 2.39 and a beta of 0.94.

Chipotle Mexican Grill (NYSE:CMG) last announced its earnings results on Wednesday, July 29th. The restaurant operator reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The firm had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.33 billion. Chipotle Mexican Grill had a return on equity of 54.65% and a net margin of 11.43%.The company’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.33 EPS. As a group, sell-side analysts forecast that Chipotle Mexican Grill will post 1.14 earnings per share for the current year.

Institutional Trading of Chipotle Mexican Grill

Several hedge funds have recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Chipotle Mexican Grill during the 4th quarter valued at $711,837,000. Vanguard Group Inc. raised its stake in Chipotle Mexican Grill by 14.8% in the 4th quarter. Vanguard Group Inc. now owns 144,588,220 shares of the restaurant operator’s stock valued at $5,349,764,000 after acquiring an additional 18,660,882 shares during the period. Capital World Investors raised its stake in Chipotle Mexican Grill by 15.8% in the 4th quarter. Capital World Investors now owns 101,688,010 shares of the restaurant operator’s stock valued at $3,762,457,000 after acquiring an additional 13,843,222 shares during the period. Clearbridge Investments LLC lifted its holdings in Chipotle Mexican Grill by 206.4% during the fourth quarter. Clearbridge Investments LLC now owns 14,062,158 shares of the restaurant operator’s stock valued at $520,300,000 after purchasing an additional 9,473,120 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Chipotle Mexican Grill by 18.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 58,447,867 shares of the restaurant operator’s stock worth $2,162,572,000 after purchasing an additional 9,237,720 shares during the period. 91.30% of the stock is currently owned by institutional investors.

Trending Headlines about Chipotle Mexican Grill

Here are the key news stories impacting Chipotle Mexican Grill this week:

• Positive Sentiment: Chipotle’s second-quarter results showed revenue rising 9.3% year over year to $3.35 billion, while adjusted earnings of $0.33 per share slightly exceeded analyst expectations. Menu innovation, digital investments and transaction growth supported the results. CMG Q2 Deep Dive: Menu Innovation and Digital Investments Drive Transaction Gains
• Positive Sentiment: Argus raised its price target for CMG from $40 to $45 and maintained a Buy rating, indicating confidence in the company’s longer-term growth prospects. Benzinga
• Neutral Sentiment: A law firm announced a potential fraud investigation involving Chipotle investors. The notice appears to be an investor-solicitation announcement rather than a confirmed regulatory finding, but it could add legal uncertainty. CMG Investors Have Opportunity to Join Chipotle Mexican Grill, Inc. Fraud Investigation with SBS Law
• Negative Sentiment: Minnesota officials reported that more than 100 people, including 110 cited in reports, have been sickened in a Salmonella outbreak potentially connected to jalapeños at several Chipotle locations. Chipotle removed the peppers, is cooperating with the investigation and said officials no longer have concerns about continued exposure. Chipotle Pulled Jalapeños Tied to Minnesota Salmonella Cases
• Negative Sentiment: The food-safety reports revived concerns about Chipotle’s past outbreak-related reputation and raised potential risks to customer traffic, brand trust, costs and liability. Those concerns outweighed the company’s otherwise solid quarterly performance and drove the stock lower. Chipotle shares tumble after Minnesota links jalapeños to salmonella outbreak

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill is a fast-casual restaurant company known for its Mexican-inspired menu of burritos, bowls, tacos and salads. Founded in 1993 by Steve Ells, the chain emphasizes fresh, customizable meals made from a limited menu of core ingredients and a focus on ingredient quality. Chipotle operates primarily company-owned restaurants and offers dine-in, takeout, catering and delivery through its own digital platforms and third-party partners.

The company is headquartered in Newport Beach, California, and traces its roots to Denver, Colorado.