Chipotle Mexican Grill, Inc. (NYSE:CMG) has been given a $510.00 target price by equities researchers at Piper Jaffray Companies in a research note issued to investors on Wednesday. The brokerage presently has a “buy” rating on the restaurant operator’s stock. Piper Jaffray Companies’ price objective suggests a potential upside of 62.33% from the company’s current price.

A number of other analysts also recently weighed in on CMG. UBS AG dropped their target price on Chipotle Mexican Grill from $460.00 to $445.00 and set a “neutral” rating for the company in a research report on Tuesday, June 27th. Jefferies Group LLC restated a “hold” rating and issued a $350.00 target price on shares of Chipotle Mexican Grill in a research report on Tuesday, October 3rd. Robert W. Baird restated a “hold” rating and issued a $340.00 target price (down previously from $385.00) on shares of Chipotle Mexican Grill in a research report on Tuesday, October 3rd. Canaccord Genuity restated a “hold” rating and issued a $440.00 target price on shares of Chipotle Mexican Grill in a research report on Tuesday, June 20th. Finally, BTIG Research restated a “neutral” rating on shares of Chipotle Mexican Grill in a research report on Tuesday, October 3rd. Seven analysts have rated the stock with a sell rating, twenty-three have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Chipotle Mexican Grill currently has a consensus rating of “Hold” and a consensus price target of $392.13.

Shares of Chipotle Mexican Grill (NYSE:CMG) traded up 0.86% on Wednesday, reaching $314.17. The company’s stock had a trading volume of 775,099 shares. The stock has a market cap of $8.96 billion, a P/E ratio of 67.53 and a beta of 0.60. The firm’s 50-day moving average price is $310.60 and its 200-day moving average price is $395.62. Chipotle Mexican Grill has a 12 month low of $295.11 and a 12 month high of $499.00.

Chipotle Mexican Grill (NYSE:CMG) last released its earnings results on Tuesday, July 25th. The restaurant operator reported $2.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.16 by $0.16. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.19 billion. Chipotle Mexican Grill had a return on equity of 10.65% and a net margin of 3.17%. Chipotle Mexican Grill’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.87 EPS. On average, analysts forecast that Chipotle Mexican Grill will post $7.47 earnings per share for the current fiscal year.

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Large investors have recently made changes to their positions in the company. FNY Managed Accounts LLC bought a new position in shares of Chipotle Mexican Grill during the first quarter valued at $107,000. Korea Investment CORP lifted its holdings in shares of Chipotle Mexican Grill by 140.2% during the second quarter. Korea Investment CORP now owns 269 shares of the restaurant operator’s stock valued at $112,000 after purchasing an additional 157 shares in the last quarter. Harbour Capital Advisors LLC bought a new position in shares of Chipotle Mexican Grill during the first quarter valued at $121,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in shares of Chipotle Mexican Grill by 15.7% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 406 shares of the restaurant operator’s stock valued at $140,000 after purchasing an additional 55 shares in the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. lifted its holdings in shares of Chipotle Mexican Grill by 84.5% during the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 369 shares of the restaurant operator’s stock valued at $164,000 after purchasing an additional 169 shares in the last quarter. 90.04% of the stock is currently owned by hedge funds and other institutional investors.

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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