Chipotle Mexican Grill (NYSE:CMG) Earns Buy Rating from Analysts at Bank of America

Stock analysts at Bank of America initiated coverage on shares of Chipotle Mexican Grill (NYSE:CMG – Get Rating) in a research note issued on Wednesday, The Fly reports. The firm set a “buy” rating on the restaurant operator’s stock.

Several other analysts also recently weighed in on the company. Raymond James decreased their target price on Chipotle Mexican Grill from $2,025.00 to $1,850.00 and set an “outperform” rating for the company in a research note on Wednesday, January 26th. Deutsche Bank Aktiengesellschaft increased their target price on Chipotle Mexican Grill from $1,696.00 to $1,724.00 in a research note on Thursday, April 28th. William Blair restated an “outperform” rating on shares of Chipotle Mexican Grill in a research note on Tuesday, February 8th. Gordon Haskett upgraded Chipotle Mexican Grill from a “hold” rating to a “buy” rating and decreased their target price for the company from $1,800.00 to $1,750.00 in a research note on Wednesday, January 26th. Finally, Royal Bank of Canada reduced their price objective on Chipotle Mexican Grill from $2,100.00 to $2,000.00 and set an “outperform” rating for the company in a research report on Friday, February 4th. Eight equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $1,948.82.

Shares of CMG stock opened at $1,321.08 on Wednesday. Chipotle Mexican Grill has a fifty-two week low of $1,272.00 and a fifty-two week high of $1,958.55. The stock’s 50-day moving average is $1,508.55 and its two-hundred day moving average is $1,588.11. The firm has a market cap of $36.94 billion, a P/E ratio of 54.91, a PEG ratio of 2.15 and a beta of 1.29.

Chipotle Mexican Grill (NYSE:CMG – Get Rating) last issued its quarterly earnings data on Tuesday, April 26th. The restaurant operator reported $5.70 EPS for the quarter, beating analysts’ consensus estimates of $5.63 by $0.07. The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.01 billion. Chipotle Mexican Grill had a return on equity of 32.88% and a net margin of 8.74%. During the same quarter in the prior year, the firm posted $5.36 EPS. As a group, sell-side analysts forecast that Chipotle Mexican Grill will post 31.47 earnings per share for the current fiscal year.

In other news, insider Marissa Andrada sold 1,456 shares of the firm’s stock in a transaction on Friday, March 11th. The stock was sold at an average price of $1,480.76, for a total value of $2,155,986.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.01% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the business. Core Alternative Capital lifted its holdings in Chipotle Mexican Grill by 433.3% during the first quarter. Core Alternative Capital now owns 16 shares of the restaurant operator’s stock worth $25,000 after acquiring an additional 13 shares in the last quarter. Confluence Wealth Services Inc. bought a new position in Chipotle Mexican Grill during the fourth quarter worth about $27,000. James Reed Financial Services Inc. bought a new position in Chipotle Mexican Grill during the fourth quarter worth about $27,000. Riverview Trust Co bought a new position in Chipotle Mexican Grill during the first quarter worth about $27,000. Finally, Benjamin Edwards Inc. bought a new position in Chipotle Mexican Grill during the fourth quarter worth about $28,000. Hedge funds and other institutional investors own 89.85% of the company’s stock.

Chipotle Mexican Grill Company Profile (Get Rating)

Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. As of February 15, 2022, it owned and operated approximately 3,000 restaurants in the United States, Canada, the United Kingdom, France, Germany, and rest of Europe. The company was founded in 1993 and is headquartered in Newport Beach, California.

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