Chipotle Mexican Grill (NYSE:CMG) Raised to "Buy" at Argus

Key Points

• Argus upgraded Chipotle from a "hold" to a Buy, signaling increased confidence from that research house.
• Analyst sentiment is broadly positive with 24 Buy and 11 Hold ratings, a consensus rating of "Moderate Buy" and a consensus price target of $46.23.
• Chipotle reported quarterly EPS of $0.24 (in line with estimates) and revenue of $3.09 billion (slightly above expectations), with revenue up 7.4% year-over-year while the stock trades near $31.95, closer to its 52-week low than its high.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) was upgraded by equities researchers at Argus from a "hold" rating to a "buy" rating in a report released on Tuesday.

Other equities analysts have also recently issued research reports about the stock. Mizuho raised shares of Chipotle Mexican Grill from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $37.00 to $40.00 in a research report on Friday, March 20th. KeyCorp dropped their target price on shares of Chipotle Mexican Grill from $45.00 to $42.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 4th. Zacks Research raised shares of Chipotle Mexican Grill from a "strong sell" rating to a "hold" rating in a research report on Friday, April 17th. Sanford C. Bernstein raised their price target on shares of Chipotle Mexican Grill from $40.00 to $50.00 and gave the stock an "outperform" rating in a research note on Monday, January 5th. Finally, TD Cowen restated a "buy" rating and set a $44.00 price target on shares of Chipotle Mexican Grill in a research note on Thursday, April 30th. Twenty-four investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $46.23.

Chipotle Mexican Grill Stock Down 3.1%

Chipotle Mexican Grill stock opened at $31.95 on Tuesday. Chipotle Mexican Grill has a 52 week low of $29.75 and a 52 week high of $58.42. The company's 50 day moving average price is $34.37 and its two-hundred day moving average price is $35.90. The stock has a market cap of $40.98 billion, a P/E ratio of 29.31, a P/E/G ratio of 2.07 and a beta of 1.03.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last posted its earnings results on Wednesday, April 29th. The restaurant operator reported $0.24 EPS for the quarter, hitting the consensus estimate of $0.24. Chipotle Mexican Grill had a net margin of 11.96% and a return on equity of 49.64%. The firm had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.07 billion. During the same quarter last year, the firm earned $0.29 EPS. The company's quarterly revenue was up 7.4% compared to the same quarter last year. On average, equities analysts anticipate that Chipotle Mexican Grill will post 1.13 EPS for the current year.

Institutional Investors Weigh In On Chipotle Mexican Grill

Several large investors have recently modified their holdings of CMG. Financial Life Planners purchased a new stake in shares of Chipotle Mexican Grill during the 3rd quarter worth approximately $25,000. Wealth Watch Advisors INC purchased a new position in Chipotle Mexican Grill in the 3rd quarter valued at approximately $25,000. Salomon & Ludwin LLC purchased a new position in Chipotle Mexican Grill in the 3rd quarter valued at approximately $26,000. MV Capital Management Inc. purchased a new position in Chipotle Mexican Grill in the 4th quarter valued at approximately $26,000. Finally, Osbon Capital Management LLC purchased a new position in Chipotle Mexican Grill in the 4th quarter valued at approximately $28,000. Hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.