Chipotle Mexican Grill Price Target Increased to $625.00 by Analysts at Raymond James (CMG)
Raymond James lifted their price target on shares of Chipotle Mexican Grill (NYSE:CMG) from $560.00 to $625.00 in a research note issued on Thursday. The firm currently has an “outperform” rating on the stock. Raymond James’ price target would indicate a potential upside of 9.58% from the company’s current price.
The analysts wrote, “We reiterate our Outperform rating on CMG and are raising our EPS estimates to reflect tighter assumptions regarding a menu price increase currently being rolled throughout the system (rolled out earlier than originally indicated and average price increase expected to be at top end of previously communicated 4-6% range). We are also encouraged by recent management comments indicating recent price increases have had little to no impact on underlying traffic trends. “CMG shares have rebounded solidly over the past three weeks and fully retraced the decline following disappointing 1Q margin and EPS results (despite spectacular 13.4% comp growth). We believe the stock can continue to work from here on continued powerful comp outperformance (~10% vs. flat industry) and dramatically improved margins and EPS growth in 2H14 (+40% y/y vs. +7.6% in 1Q14) behind the aforementioned menu price increase. “We are raising our 12-month price target to $625, which equates to 38x our new 2015 EPS estimate of $16.50.”
A number of other firms have also recently commented on CMG. Analysts at Miller Tabak raised their price target on shares of Chipotle Mexican Grill from $530.00 to $535.00 in a research note on Thursday, May 29th. They now have a “hold” rating on the stock. Separately, analysts at Oppenheimer reiterated an “outperform” rating on shares of Chipotle Mexican Grill in a research note on Thursday, May 22nd. They now have a $625.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Chipotle Mexican Grill in a research note on Friday, May 16th. They now have a $521.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Chipotle Mexican Grill presently has a consensus rating of “Buy” and a consensus target price of $595.08.
Chipotle Mexican Grill (NYSE:CMG) traded up 1.87% on Thursday, hitting $581.00. 285,372 shares of the company’s stock traded hands. Chipotle Mexican Grill has a 52-week low of $352.27 and a 52-week high of $622.90. The stock’s 50-day moving average is $520.5 and its 200-day moving average is $537.6. The company has a market cap of $18.059 billion and a price-to-earnings ratio of 53.51.
Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings results on Thursday, April 17th. The company reported $2.64 EPS for the quarter, missing the Thomson Reuters consensus estimate of $2.85 by $0.21. The company had revenue of $904.20 million for the quarter, compared to the consensus estimate of $873.44 million. During the same quarter in the prior year, the company posted $2.45 earnings per share. The company’s quarterly revenue was up 24.4% on a year-over-year basis. On average, analysts predict that Chipotle Mexican Grill will post $12.57 earnings per share for the current fiscal year.
Chipotle Mexican Grill, Inc (NYSE:CMG) operates Chipotle Mexican Grill restaurants.
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