Chipotle Mexican Grill, Inc. (CMG) Raised to Hold at Zacks Investment Research
Chipotle Mexican Grill, Inc. (NYSE:CMG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.
According to Zacks, “Chipotle’s second-quarter adjusted earnings of $2.32 per share beat the Zacks Consensus Estimate by 7.4% and rose notably on a year-over-year basis. Revenues rose 17.1% to $1.17 billion and but missed the consensus mark by over 1%. Throughout 2016, Chipotle’s performance continued to be affected by the negative publicity linked with the food-borne illnesses. Though Chipotle’s recovery plan to restore its economic model and customers trust to build sales along with efforts to enhance guest experience have started bearing fruit, a fresh round of food-safety scare has once again raised alarming questions. In fact, Chipotle shares have underperformed the industry over the last three months. Nevertheless, various sales and technology driven initiatives undertaken should entice customers. Still, higher costs are likely to impact margins, while a choppy sales environment in the U.S. restaurant space might limit revenue growth.”
A number of other research firms have also recently weighed in on CMG. SunTrust Banks, Inc. upped their price objective on shares of Chipotle Mexican Grill from $500.00 to $550.00 and gave the company a “buy” rating in a research report on Wednesday, April 26th. Mizuho reissued a “buy” rating and issued a $533.00 price objective on shares of Chipotle Mexican Grill in a research report on Wednesday, June 21st. Oppenheimer Holdings, Inc. reissued a “market perform” rating on shares of Chipotle Mexican Grill in a research report on Wednesday, July 12th. Standpoint Research initiated coverage on shares of Chipotle Mexican Grill in a research report on Wednesday, April 19th. They issued a “sell” rating and a $420.00 price objective for the company. Finally, Maxim Group reissued a “hold” rating and issued a $440.00 price objective on shares of Chipotle Mexican Grill in a research report on Tuesday, June 20th. Seven equities research analysts have rated the stock with a sell rating, twenty-three have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $405.15.
Chipotle Mexican Grill (NYSE CMG) traded down 0.23% on Friday, reaching $344.56. The company had a trading volume of 829,772 shares. The firm has a market capitalization of $9.82 billion, a price-to-earnings ratio of 74.07 and a beta of 0.62. Chipotle Mexican Grill has a 52-week low of $336.52 and a 52-week high of $499.00. The stock’s 50-day moving average price is $398.99 and its 200 day moving average price is $431.70.
Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Tuesday, July 25th. The restaurant operator reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.16. Chipotle Mexican Grill had a return on equity of 10.65% and a net margin of 3.17%. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the firm earned $0.87 EPS. The firm’s quarterly revenue was up 17.1% compared to the same quarter last year. On average, equities analysts anticipate that Chipotle Mexican Grill will post $7.73 earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently bought and sold shares of CMG. FNY Managed Accounts LLC bought a new position in Chipotle Mexican Grill during the first quarter worth approximately $107,000. Korea Investment CORP boosted its stake in shares of Chipotle Mexican Grill by 140.2% in the second quarter. Korea Investment CORP now owns 269 shares of the restaurant operator’s stock worth $112,000 after buying an additional 157 shares during the last quarter. Harbour Capital Advisors LLC acquired a new stake in shares of Chipotle Mexican Grill during the first quarter worth $121,000. OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in shares of Chipotle Mexican Grill by 84.5% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 369 shares of the restaurant operator’s stock worth $164,000 after buying an additional 169 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of Chipotle Mexican Grill by 6.7% in the first quarter. Van ECK Associates Corp now owns 398 shares of the restaurant operator’s stock worth $177,000 after buying an additional 25 shares during the last quarter. Institutional investors and hedge funds own 96.47% of the company’s stock.
Chipotle Mexican Grill Company Profile
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.
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