Chipotle Mexican Grill (NYSE:CMG) Earns “Buy” Rating from BTIG Research

Chipotle Mexican Grill (NYSE:CMG)‘s stock had its “buy” rating reiterated by equities researchers at BTIG Research in a report issued on Friday,Benzinga reports. They presently have a $57.00 price objective on the restaurant operator’s stock. BTIG Research’s price target would indicate a potential upside of 38.88% from the company’s current price.

CMG has been the topic of a number of other research reports. Wells Fargo & Company dropped their price target on Chipotle Mexican Grill from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Thursday, July 24th. BMO Capital Markets upgraded Chipotle Mexican Grill from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $56.00 to $65.00 in a research report on Friday, July 18th. TD Securities reiterated a “buy” rating and set a $57.00 price objective on shares of Chipotle Mexican Grill in a research report on Wednesday, June 18th. JPMorgan Chase & Co. dropped their target price on Chipotle Mexican Grill from $58.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, May 29th. Finally, Truist Financial dropped their target price on Chipotle Mexican Grill from $64.00 to $60.00 and set a “buy” rating for the company in a report on Friday, July 25th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, Chipotle Mexican Grill presently has an average rating of “Moderate Buy” and an average price target of $59.93.

Chipotle Mexican Grill Stock Down 0.9%

Shares of NYSE:CMG opened at $41.04 on Friday. The business’s 50 day moving average is $47.35 and its 200 day moving average is $49.56. Chipotle Mexican Grill has a 12-month low of $40.73 and a 12-month high of $66.74. The stock has a market cap of $55.03 billion, a price-to-earnings ratio of 36.64, a PEG ratio of 2.09 and a beta of 1.02.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings data on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.01. Chipotle Mexican Grill had a return on equity of 43.50% and a net margin of 13.32%.The business had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.11 billion. During the same quarter in the previous year, the firm earned $0.34 earnings per share. The business’s revenue was up 3.0% on a year-over-year basis. As a group, equities research analysts expect that Chipotle Mexican Grill will post 1.29 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its position in shares of Chipotle Mexican Grill by 5.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 8,979,637 shares of the restaurant operator’s stock valued at $450,868,000 after buying an additional 491,002 shares during the period. Corient IA LLC purchased a new stake in shares of Chipotle Mexican Grill during the 1st quarter worth about $753,000. Banco Santander S.A. lifted its stake in Chipotle Mexican Grill by 47.6% in the 1st quarter. Banco Santander S.A. now owns 31,764 shares of the restaurant operator’s stock valued at $1,595,000 after buying an additional 10,246 shares in the last quarter. Community Trust & Investment Co. acquired a new stake in Chipotle Mexican Grill in the 1st quarter valued at about $7,773,000. Finally, LPL Financial LLC increased its holdings in Chipotle Mexican Grill by 4.3% in the 1st quarter. LPL Financial LLC now owns 1,276,359 shares of the restaurant operator’s stock valued at $64,086,000 after purchasing an additional 52,937 shares during the last quarter. Hedge funds and other institutional investors own 91.30% of the company’s stock.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. It sells food and beverages through offering burritos, burrito bowls, quesadillas, tacos, and salads. The company also provides delivery and related services its app and website. It has operations in the United States, Canada, France, Germany, and the United Kingdom.