Chipotle Mexican Grill Given New $400.00 Price Target at Deutsche Bank (CMG)
Research analysts at Deutsche Bank raised their price objective on shares of Chipotle Mexican Grill (NYSE:CMG) from $375.00 to $400.00 in a report released on Monday, AnalystRatings.Net reports. The firm currently has a “hold” rating on the stock. Deutsche Bank’s price objective would suggest a potential downside of 7.86% from the company’s current price.
The analysts wrote, “We believe the July sluggishness discussed on 2Q conf. calls generally continued through the balance of 3Q. From MCD to DFRG, mgmt. tone has remained cautious on the restaurant consumer. In contrast, sector valuations are near cyclical peaks (~22x NTM P/E), leaving us concerned about relative and absolute perf. for the group into earnings season. Also, an extended govt. shutdown would likely cause some further retrenchment in restaurant spending. Maintain defensive bias. Reiterate Buys on MCD (franchise income on the cheap) and BWLD (favorable margin outlook protects EPS).”
Chipotle Mexican Grill (NYSE:CMG) traded down 0.42% during mid-day trading on Monday, hitting $432.30. 273,319 shares of the company’s stock traded hands. Chipotle Mexican Grill has a 52-week low of $233.82 and a 52-week high of $434.36. The stock’s 50-day moving average is $414.9 and its 200-day moving average is $379.3. The company has a market cap of $13.345 billion and a P/E ratio of 45.79.
Chipotle Mexican Grill (NYSE:CMG) last released its earnings data on Thursday, July 18th. The company reported $2.82 EPS for the quarter, beating the Thomson Reuters consensus estimate of $2.81 by $0.01. The company had revenue of $816.80 million for the quarter, compared to the consensus estimate of $802.80 million. During the same quarter in the prior year, the company posted $2.56 earnings per share. The company’s quarterly revenue was up 18.2% on a year-over-year basis. On average, analysts predict that Chipotle Mexican Grill will post $10.59 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on CMG. Analysts at Jefferies Group reiterated a “hold” rating on shares of Chipotle Mexican Grill in a research note to investors on Tuesday, October 1st. They now have a $410.00 price target on the stock, up previously from $400.00. Separately, analysts at Morgan Stanley upgraded shares of Chipotle Mexican Grill from an “equal weight” rating to an “overweight” rating in a research note to investors on Monday, September 30th. They now have a $485.00 price target on the stock. Finally, analysts at Northcoast Research initiated coverage on shares of Chipotle Mexican Grill in a research note to investors on Friday, August 23rd. They set a “sell” rating on the stock. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twelve have issued a buy rating to the company. Chipotle Mexican Grill presently has a consensus rating of “Hold” and an average target price of $403.39.
Chipotle Mexican Grill, Inc and its subsidiaries (NYSE:CMG) operate restaurants throughout the United States, as well as two restaurants in Toronto, Canada and two in London, England.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.