Chipotle Mexican Grill, Inc. (NYSE:CMG)‘s stock had its “buy” rating reaffirmed by investment analysts at Maxim Group in a research note issued on Wednesday. They presently have a $435.00 price objective on the restaurant operator’s stock, down from their previous price objective of $470.00. Maxim Group’s price target would indicate a potential upside of 27.72% from the stock’s current price.

CMG has been the subject of a number of other reports. Vetr upgraded shares of Chipotle Mexican Grill from a “hold” rating to a “buy” rating and set a $498.87 price target for the company in a research report on Tuesday, May 30th. Raymond James Financial, Inc. reiterated an “underperform” rating on shares of Chipotle Mexican Grill in a research report on Tuesday, June 20th. Deutsche Bank AG reiterated a “sell” rating and set a $350.00 price target (up from $300.00) on shares of Chipotle Mexican Grill in a research report on Monday, July 10th. Wells Fargo & Company reiterated a “market perform” rating and set a $470.00 price target on shares of Chipotle Mexican Grill in a research report on Friday, July 14th. Finally, Credit Suisse Group reiterated a “neutral” rating on shares of Chipotle Mexican Grill in a research report on Tuesday, June 20th. Eight analysts have rated the stock with a sell rating, twenty-two have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Chipotle Mexican Grill presently has an average rating of “Hold” and an average price target of $407.27.

Chipotle Mexican Grill (CMG) traded down 2.30% during midday trading on Wednesday, reaching $340.60. The company’s stock had a trading volume of 3,621,377 shares. The firm has a market capitalization of $9.76 billion, a P/E ratio of 104.48 and a beta of 0.64. Chipotle Mexican Grill has a 52 week low of $336.52 and a 52 week high of $499.00. The company’s 50-day moving average is $419.18 and its 200 day moving average is $434.34.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings results on Tuesday, July 25th. The restaurant operator reported $2.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.16 by $0.16. Chipotle Mexican Grill had a net margin of 2.31% and a return on equity of 7.72%. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the firm earned $0.87 EPS. The company’s revenue for the quarter was up 17.1% on a year-over-year basis. Analysts expect that Chipotle Mexican Grill will post $7.90 earnings per share for the current fiscal year.

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A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Chipotle Mexican Grill by 2.6% in the first quarter. Vanguard Group Inc. now owns 2,719,423 shares of the restaurant operator’s stock worth $1,211,558,000 after buying an additional 69,007 shares in the last quarter. BlackRock Inc. raised its position in shares of Chipotle Mexican Grill by 3,309.6% in the first quarter. BlackRock Inc. now owns 2,424,479 shares of the restaurant operator’s stock worth $1,080,155,000 after buying an additional 2,353,372 shares in the last quarter. State Street Corp raised its position in shares of Chipotle Mexican Grill by 3.7% in the first quarter. State Street Corp now owns 1,237,517 shares of the restaurant operator’s stock worth $551,348,000 after buying an additional 44,694 shares in the last quarter. Clearbridge Investments LLC raised its position in shares of Chipotle Mexican Grill by 13.7% in the first quarter. Clearbridge Investments LLC now owns 359,366 shares of the restaurant operator’s stock worth $160,105,000 after buying an additional 43,396 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of Chipotle Mexican Grill by 26.5% in the first quarter. American Century Companies Inc. now owns 352,826 shares of the restaurant operator’s stock worth $157,191,000 after buying an additional 73,914 shares in the last quarter. Hedge funds and other institutional investors own 95.71% of the company’s stock.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc (Chipotle), together with its subsidiaries, operates Chipotle Mexican Grill restaurants. The Company’s Chipotle Mexican Grill restaurants serve a menu of burritos, tacos, burrito bowls (a burrito without the tortilla) and salads. As of December 31, 2016, the Company managed its operations and restaurants based on 11 regions.

Analyst Recommendations for Chipotle Mexican Grill (NYSE:CMG)

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