Evercore ISI started coverage on shares of Chipotle Mexican Grill (NYSE:CMG) in a research note issued to investors on Tuesday morning, The Fly reports. The brokerage issued an outperform rating on the restaurant operator’s stock.
A number of other equities research analysts have also recently issued reports on the stock. Maxim Group boosted their target price on shares of Chipotle Mexican Grill from $635.00 to $650.00 and gave the company a hold rating in a report on Tuesday. Citigroup boosted their target price on shares of Chipotle Mexican Grill from $695.00 to $797.00 and gave the company a buy rating in a report on Thursday, June 6th. BMO Capital Markets cut shares of Chipotle Mexican Grill from a market perform rating to an underperform rating and lowered their target price for the company from $675.00 to $620.00 in a report on Thursday, May 23rd. They noted that the move was a valuation call. Piper Jaffray Companies boosted their target price on shares of Chipotle Mexican Grill from $760.00 to $783.00 and gave the company an overweight rating in a report on Monday, May 20th. Finally, UBS Group set a $797.00 target price on shares of Chipotle Mexican Grill and gave the company a buy rating in a report on Wednesday, May 8th. Six research analysts have rated the stock with a sell rating, fourteen have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $642.36.
Shares of CMG stock opened at $729.24 on Tuesday. The company has a current ratio of 1.44, a quick ratio of 1.41 and a debt-to-equity ratio of 1.69. Chipotle Mexican Grill has a 1 year low of $383.20 and a 1 year high of $730.41. The firm has a market cap of $19.67 billion, a price-to-earnings ratio of 80.49, a price-to-earnings-growth ratio of 2.85 and a beta of 0.63.
Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Wednesday, April 24th. The restaurant operator reported $3.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.01 by $0.39. Chipotle Mexican Grill had a net margin of 4.08% and a return on equity of 19.78%. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the previous year, the firm posted $2.13 EPS. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. As a group, sell-side analysts expect that Chipotle Mexican Grill will post 13 EPS for the current fiscal year.
In related news, CFO Jack Hartung sold 1,470 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $680.00, for a total value of $999,600.00. Following the transaction, the chief financial officer now owns 38,002 shares of the company’s stock, valued at $25,841,360. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders sold 7,751 shares of company stock worth $5,112,797. 2.21% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc increased its stake in Chipotle Mexican Grill by 1.9% in the third quarter. Vanguard Group Inc now owns 2,590,430 shares of the restaurant operator’s stock valued at $1,177,403,000 after acquiring an additional 47,822 shares during the last quarter. BlackRock Inc. boosted its position in Chipotle Mexican Grill by 4.2% during the fourth quarter. BlackRock Inc. now owns 1,615,632 shares of the restaurant operator’s stock valued at $697,615,000 after buying an additional 64,606 shares during the period. Renaissance Technologies LLC boosted its position in Chipotle Mexican Grill by 17.7% during the first quarter. Renaissance Technologies LLC now owns 1,460,399 shares of the restaurant operator’s stock valued at $1,037,336,000 after buying an additional 219,940 shares during the period. FMR LLC boosted its position in Chipotle Mexican Grill by 88.7% during the first quarter. FMR LLC now owns 1,143,585 shares of the restaurant operator’s stock valued at $812,301,000 after buying an additional 537,677 shares during the period. Finally, Jennison Associates LLC boosted its position in Chipotle Mexican Grill by 6.6% during the first quarter. Jennison Associates LLC now owns 862,319 shares of the restaurant operator’s stock valued at $612,514,000 after buying an additional 53,501 shares during the period. 95.08% of the stock is currently owned by institutional investors and hedge funds.
About Chipotle Mexican Grill
Chipotle Mexican Grill, Inc, together with its subsidiaries, operates Chipotle Mexican Grill restaurants. As of December 31, 2018, it operated 2,491 restaurants, including 2,452 Chipotle restaurants in the United States, 37 Chipotle restaurants internationally, and two non-Chipotle restaurants. The company was founded in 1993 and is headquartered in Newport Beach, California.
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