BTIG Research Reaffirms Buy Rating for Chipotle Mexican Grill (NYSE:CMG)

Key Points

• BTIG Research has reaffirmed a buy rating for Chipotle Mexican Grill (CMG) with a price target of $57.00, indicating a potential upside of 37.75% from its current price.
• The stock has a consensus rating of Moderate Buy with an average target price of $59.93, while other analysts have varied target prices ranging from $50.00 to $65.00.
• Chipotle reported earnings of $0.33 EPS in its latest quarter, slightly exceeding estimates, but revenue fell short of expectations at $3.06 billion.

BTIG Research reissued their buy rating on shares of Chipotle Mexican Grill (NYSE:CMG - Free Report) in a report released on Friday morning,Benzinga reports. The brokerage currently has a $57.00 price objective on the restaurant operator's stock.

CMG has been the topic of several other reports. BMO Capital Markets raised shares of Chipotle Mexican Grill from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $56.00 to $65.00 in a report on Friday, July 18th. Citigroup lowered their target price on shares of Chipotle Mexican Grill from $68.00 to $62.00 and set a "buy" rating on the stock in a research note on Thursday, July 24th. Rothschild Redb raised shares of Chipotle Mexican Grill from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 3rd. KeyCorp decreased their price target on shares of Chipotle Mexican Grill from $60.00 to $58.00 and set an "overweight" rating on the stock in a research note on Thursday, July 24th. Finally, Rothschild & Co Redburn upgraded shares of Chipotle Mexican Grill from a "neutral" rating to a "buy" rating and set a $55.00 target price on the stock in a report on Wednesday, September 3rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $59.93.

Chipotle Mexican Grill Stock Performance

NYSE CMG traded down $1.50 during trading on Friday, hitting $39.56. 35,047,479 shares of the company's stock traded hands, compared to its average volume of 14,423,093. The stock has a market capitalization of $53.04 billion, a price-to-earnings ratio of 35.32, a PEG ratio of 2.09 and a beta of 1.02. Chipotle Mexican Grill has a 12-month low of $39.23 and a 12-month high of $66.74. The business has a 50 day moving average of $47.35 and a 200-day moving average of $49.54.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The restaurant operator reported $0.33 EPS for the quarter, beating the consensus estimate of $0.32 by $0.01. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.11 billion. Chipotle Mexican Grill had a net margin of 13.32% and a return on equity of 43.50%. The company's revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.34 earnings per share. On average, analysts expect that Chipotle Mexican Grill will post 1.29 EPS for the current year.

Institutional Investors Weigh In On Chipotle Mexican Grill

Large investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its holdings in Chipotle Mexican Grill by 5.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 8,979,637 shares of the restaurant operator's stock worth $450,868,000 after buying an additional 491,002 shares in the last quarter. Corient IA LLC bought a new stake in shares of Chipotle Mexican Grill during the 1st quarter valued at about $753,000. Banco Santander S.A. grew its stake in shares of Chipotle Mexican Grill by 47.6% during the 1st quarter. Banco Santander S.A. now owns 31,764 shares of the restaurant operator's stock valued at $1,595,000 after purchasing an additional 10,246 shares during the period. Community Trust & Investment Co. bought a new stake in shares of Chipotle Mexican Grill during the 1st quarter valued at about $7,773,000. Finally, Advisors Asset Management Inc. grew its stake in shares of Chipotle Mexican Grill by 32.4% during the 1st quarter. Advisors Asset Management Inc. now owns 75,368 shares of the restaurant operator's stock valued at $3,784,000 after purchasing an additional 18,458 shares during the period. 91.30% of the stock is currently owned by institutional investors.

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.