Chipotle Mexican Grill (CMG) Price Target Raised to $661.00 at Piper Jaffray Companies

Chipotle Mexican Grill (NYSE:CMG) had its price objective boosted by equities researchers at Piper Jaffray Companies from $590.00 to $661.00 in a research note issued to investors on Tuesday. The firm presently has an “overweight” rating on the restaurant operator’s stock. Piper Jaffray Companies’ target price indicates a potential upside of 8.52% from the company’s current price. Piper Jaffray Companies also issued estimates for Chipotle Mexican Grill’s Q1 2019 earnings at $2.59 EPS, Q2 2019 earnings at $2.84 EPS, Q3 2019 earnings at $2.75 EPS and Q4 2019 earnings at $2.87 EPS.

A number of other research firms have also recently weighed in on CMG. Stifel Nicolaus restated a “hold” rating and set a $500.00 price objective on shares of Chipotle Mexican Grill in a research report on Monday. Zacks Investment Research cut shares of Chipotle Mexican Grill from a “buy” rating to a “hold” rating in a research report on Monday. SunTrust Banks upped their price objective on shares of Chipotle Mexican Grill to $635.00 and gave the stock a “positive” rating in a research report on Thursday, February 7th. Bank of America restated an “underperform” rating and set a $400.00 price objective (up from $340.00) on shares of Chipotle Mexican Grill in a research report on Thursday, February 7th. Finally, Mizuho restated a “sell” rating and set a $420.00 price objective on shares of Chipotle Mexican Grill in a research report on Thursday, February 7th. Nine investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $505.29.

Shares of CMG traded up $5.75 during trading hours on Tuesday, hitting $609.11. The stock had a trading volume of 9,515 shares, compared to its average volume of 903,981. Chipotle Mexican Grill has a fifty-two week low of $249.31 and a fifty-two week high of $608.55. The stock has a market cap of $16.19 billion, a P/E ratio of 67.23, a P/E/G ratio of 2.72 and a beta of 0.60.

Chipotle Mexican Grill (NYSE:CMG) last posted its earnings results on Wednesday, February 6th. The restaurant operator reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.34. Chipotle Mexican Grill had a net margin of 3.63% and a return on equity of 17.64%. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the previous year, the business posted $1.34 EPS. The business’s revenue was up 10.4% compared to the same quarter last year. Analysts forecast that Chipotle Mexican Grill will post 12.16 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Intermede Investment Partners Ltd grew its holdings in shares of Chipotle Mexican Grill by 2.1% in the second quarter. Intermede Investment Partners Ltd now owns 38,792 shares of the restaurant operator’s stock valued at $15,624,000 after purchasing an additional 784 shares during the period. BlackRock Institutional Trust Company N.A. grew its holdings in shares of Chipotle Mexican Grill by 0.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 796,250 shares of the restaurant operator’s stock valued at $337,212,000 after purchasing an additional 6,019 shares during the period. Henderson Group PLC grew its holdings in shares of Chipotle Mexican Grill by 7.6% in the fourth quarter. Henderson Group PLC now owns 86,588 shares of the restaurant operator’s stock valued at $41,549,000 after purchasing an additional 6,109 shares during the period. Andra AP fonden grew its holdings in shares of Chipotle Mexican Grill by 67.9% in the second quarter. Andra AP fonden now owns 4,700 shares of the restaurant operator’s stock valued at $1,956,000 after purchasing an additional 1,900 shares during the period. Finally, Chilton Investment Co. LLC purchased a new position in Chipotle Mexican Grill during the second quarter worth about $10,040,000. Institutional investors and hedge funds own 91.25% of the company’s stock.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc, together with its subsidiaries, operates Chipotle Mexican Grill restaurants. As of September 30, 2018, it operated 2,424 Chipotle restaurants in the United States, as well as 37 international Chipotle restaurants. The company was founded in 1993 and is headquartered in Newport Beach, California.

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