Chipotle Mexican Grill (NYSE:CMG) Earns "Outperform" Rating from Mizuho

Key Points

• Mizuho reaffirmed an “outperform” rating on Chipotle Mexican Grill and set a $43 price target, implying 14.44% upside from the stock’s current price.
• Analyst sentiment remains favorable: Chipotle has an overall “Moderate Buy” consensus rating and a $44.22 average price target, based on 24 Buy and 10 Hold ratings.
• CMG shares fell 1.2% to $37.57 in Tuesday trading. The company recently exceeded quarterly earnings and revenue expectations, reporting $0.33 EPS and $3.35 billion in revenue, up 9.3% year over year.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report)'s stock had its "outperform" rating reissued by analysts at Mizuho in a report released on Tuesday, Benzinga reports. They presently have a $43.00 price target on the restaurant operator's stock. Mizuho's target price suggests a potential upside of 14.44% from the stock's current price.

A number of other brokerages have also issued reports on CMG. UBS Group reiterated a "buy" rating on shares of Chipotle Mexican Grill in a research report on Friday, July 31st. Weiss Ratings raised shares of Chipotle Mexican Grill from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, August 7th. Bank of America reiterated a "buy" rating and set a $53.00 price objective (up from $50.00) on shares of Chipotle Mexican Grill in a research note on Tuesday. Evercore reissued an "outperform" rating and set a $47.00 target price on shares of Chipotle Mexican Grill in a report on Thursday, July 30th. Finally, Morgan Stanley upped their target price on Chipotle Mexican Grill from $37.00 to $39.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 30th. Twenty-four investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $44.22.

Chipotle Mexican Grill Trading Down 1.2%

CMG traded down $0.46 during trading hours on Tuesday, hitting $37.57. The company's stock had a trading volume of 4,730,123 shares, compared to its average volume of 17,806,396. The company has a 50-day simple moving average of $34.47 and a 200 day simple moving average of $33.90. The firm has a market capitalization of $47.55 billion, a PE ratio of 34.53, a PEG ratio of 2.42 and a beta of 0.94. Chipotle Mexican Grill has a fifty-two week low of $28.03 and a fifty-two week high of $42.81.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The restaurant operator reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.01. The company had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.33 billion. Chipotle Mexican Grill had a return on equity of 54.65% and a net margin of 11.43%.The firm's quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.33 EPS. Research analysts expect that Chipotle Mexican Grill will post 1.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Matthew R. Bush sold 2,675 shares of the firm's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $35.75, for a total transaction of $95,631.25. Following the completion of the sale, the insider directly owned 21,415 shares in the company, valued at approximately $765,586.25. This trade represents a 11.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.45% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CMG. Revolve Wealth Partners LLC raised its position in shares of Chipotle Mexican Grill by 4.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 4,804 shares of the restaurant operator's stock worth $290,000 after purchasing an additional 214 shares during the period. Bison Wealth LLC acquired a new stake in Chipotle Mexican Grill during the 4th quarter worth about $224,000. Empowered Funds LLC raised its holdings in Chipotle Mexican Grill by 5.5% during the 1st quarter. Empowered Funds LLC now owns 26,460 shares of the restaurant operator's stock worth $1,329,000 after buying an additional 1,368 shares during the period. Osterweis Capital Management Inc. lifted its stake in Chipotle Mexican Grill by 7,176.0% during the second quarter. Osterweis Capital Management Inc. now owns 1,819 shares of the restaurant operator's stock valued at $102,000 after buying an additional 1,794 shares in the last quarter. Finally, Ieq Capital LLC lifted its stake in Chipotle Mexican Grill by 88.8% during the second quarter. Ieq Capital LLC now owns 274,375 shares of the restaurant operator's stock valued at $15,406,000 after buying an additional 129,066 shares in the last quarter. Institutional investors own 91.30% of the company's stock.

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.

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