Chipotle Mexican Grill’s (CMG) “Buy” Rating Reiterated at BTIG Research

BTIG Research reissued their buy rating on shares of Chipotle Mexican Grill (NYSE:CMG) in a research report released on Wednesday,Benzinga reports. The firm currently has a $45.00 price target on the restaurant operator’s stock.

Several other research analysts also recently commented on the stock. Piper Sandler increased their price objective on shares of Chipotle Mexican Grill from $44.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, January 23rd. BMO Capital Markets restated an “outperform” rating on shares of Chipotle Mexican Grill in a research report on Thursday, October 30th. Morgan Stanley reduced their price objective on shares of Chipotle Mexican Grill from $59.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Northcoast Research downgraded Chipotle Mexican Grill from a “buy” rating to a “neutral” rating in a research report on Friday, October 31st. Finally, Mizuho lifted their price target on shares of Chipotle Mexican Grill from $36.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, January 9th. Twenty-two equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Chipotle Mexican Grill has an average rating of “Moderate Buy” and an average price target of $47.24.

Chipotle Mexican Grill Stock Up 2.5%

Chipotle Mexican Grill stock opened at $39.42 on Wednesday. The business has a 50-day simple moving average of $37.79 and a two-hundred day simple moving average of $38.89. The company has a market cap of $51.34 billion, a P/E ratio of 34.58, a P/E/G ratio of 2.47 and a beta of 0.99. Chipotle Mexican Grill has a 52-week low of $29.75 and a 52-week high of $59.09.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings results on Tuesday, February 3rd. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.01. The business had revenue of $2.98 billion during the quarter, compared to analyst estimates of $2.96 billion. Chipotle Mexican Grill had a return on equity of 47.99% and a net margin of 12.88%.Chipotle Mexican Grill’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.25 earnings per share. Research analysts anticipate that Chipotle Mexican Grill will post 1.29 EPS for the current fiscal year.

Institutional Trading of Chipotle Mexican Grill

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its position in shares of Chipotle Mexican Grill by 109.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 24,907 shares of the restaurant operator’s stock worth $922,000 after purchasing an additional 12,999 shares in the last quarter. RD Lewis Holdings Inc. purchased a new stake in Chipotle Mexican Grill in the 4th quarter valued at $245,000. Ferguson Johnson Wealth Management Inc acquired a new position in Chipotle Mexican Grill in the 4th quarter valued at about $222,000. Advisory Alpha LLC raised its position in Chipotle Mexican Grill by 30.8% in the fourth quarter. Advisory Alpha LLC now owns 12,344 shares of the restaurant operator’s stock valued at $457,000 after purchasing an additional 2,908 shares during the period. Finally, Evoke Wealth LLC purchased a new position in Chipotle Mexican Grill during the fourth quarter worth about $542,000. Institutional investors and hedge funds own 91.30% of the company’s stock.

Chipotle Mexican Grill Company Profile

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.