Sanford C. Bernstein Forecasts Strong Price Appreciation for Chipotle Mexican Grill (NYSE:CMG) Stock

Chipotle Mexican Grill (NYSE:CMG) had its price target hoisted by research analysts at Sanford C. Bernstein from $40.00 to $50.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the restaurant operator’s stock. Sanford C. Bernstein’s price target indicates a potential upside of 29.62% from the company’s previous close.

A number of other research analysts have also issued reports on CMG. The Goldman Sachs Group reiterated a “buy” rating on shares of Chipotle Mexican Grill in a research report on Thursday, December 18th. Robert W. Baird reduced their price objective on shares of Chipotle Mexican Grill from $59.00 to $49.00 and set an “outperform” rating for the company in a report on Friday, October 10th. Northcoast Research lowered shares of Chipotle Mexican Grill from a “buy” rating to a “neutral” rating in a research report on Friday, October 31st. UBS Group set a $45.00 price target on shares of Chipotle Mexican Grill in a research report on Friday, October 31st. Finally, Barclays decreased their price objective on shares of Chipotle Mexican Grill from $43.00 to $38.00 and set an “equal weight” rating for the company in a report on Thursday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $49.57.

Chipotle Mexican Grill Trading Up 0.8%

NYSE CMG opened at $38.58 on Monday. The company has a 50-day moving average price of $34.28 and a two-hundred day moving average price of $41.18. Chipotle Mexican Grill has a 52 week low of $29.75 and a 52 week high of $59.57. The stock has a market cap of $51.01 billion, a price-to-earnings ratio of 34.14, a price-to-earnings-growth ratio of 3.73 and a beta of 0.97.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings results on Wednesday, October 29th. The restaurant operator reported $0.29 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.29. Chipotle Mexican Grill had a return on equity of 45.39% and a net margin of 13.04%.The company had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter in the previous year, the company posted $0.27 earnings per share. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. As a group, equities research analysts expect that Chipotle Mexican Grill will post 1.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Chipotle Mexican Grill

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Chipotle Mexican Grill by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 125,927,338 shares of the restaurant operator’s stock valued at $4,935,092,000 after buying an additional 2,470,213 shares during the last quarter. Capital World Investors grew its stake in shares of Chipotle Mexican Grill by 122.7% in the third quarter. Capital World Investors now owns 87,844,788 shares of the restaurant operator’s stock worth $3,442,645,000 after acquiring an additional 48,398,628 shares during the last quarter. Capital International Investors grew its stake in shares of Chipotle Mexican Grill by 42.4% in the third quarter. Capital International Investors now owns 38,497,927 shares of the restaurant operator’s stock worth $1,509,043,000 after acquiring an additional 11,471,658 shares during the last quarter. Alliancebernstein L.P. increased its position in Chipotle Mexican Grill by 1.9% during the second quarter. Alliancebernstein L.P. now owns 33,111,508 shares of the restaurant operator’s stock worth $1,859,211,000 after acquiring an additional 606,190 shares during the period. Finally, Geode Capital Management LLC raised its stake in Chipotle Mexican Grill by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 29,659,508 shares of the restaurant operator’s stock valued at $1,657,193,000 after purchasing an additional 325,926 shares during the last quarter. 91.30% of the stock is currently owned by institutional investors.

About Chipotle Mexican Grill

Chipotle Mexican Grill is a fast-casual restaurant company known for its Mexican-inspired menu of burritos, bowls, tacos and salads. Founded in 1993 by Steve Ells, the chain emphasizes fresh, customizable meals made from a limited menu of core ingredients and a focus on ingredient quality. Chipotle operates primarily company-owned restaurants and offers dine-in, takeout, catering and delivery through its own digital platforms and third-party partners.

The company is headquartered in Newport Beach, California, and traces its roots to Denver, Colorado.