Stephens Reiterates Equal Weight Rating for Chipotle Mexican Grill (NYSE:CMG)

Key Points

• Stephens has reaffirmed its "equal weight" rating for Chipotle Mexican Grill (NYSE:CMG) with a price target of $60.00, suggesting a potential upside of 50.32% from its previous close.
• Several brokerages, including Rothschild & Co Redburn, have recently upgraded their ratings and price targets for Chipotle, with a general consensus indicating a Moderate Buy average rating.
• Chipotle reported a quarterly earnings per share (EPS) of $0.33, exceeding consensus estimates, while its revenue grew by 3.0% compared to the previous year.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report)'s stock had its "equal weight" rating reaffirmed by equities researchers at Stephens in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $60.00 price target on the restaurant operator's stock. Stephens' price target indicates a potential upside of 50.32% from the stock's previous close.

Several other brokerages have also weighed in on CMG. Rothschild & Co Redburn upgraded shares of Chipotle Mexican Grill from a "neutral" rating to a "buy" rating and set a $55.00 price objective on the stock in a report on Wednesday, September 3rd. Stifel Nicolaus cut their price objective on shares of Chipotle Mexican Grill from $65.00 to $60.00 and set a "buy" rating on the stock in a report on Tuesday, September 9th. Redburn Atlantic began coverage on shares of Chipotle Mexican Grill in a report on Tuesday, June 10th. They issued a "neutral" rating and a $55.00 price target on the stock. TD Securities restated a "buy" rating and issued a $57.00 price target on shares of Chipotle Mexican Grill in a report on Wednesday, June 18th. Finally, Truist Financial lowered their price objective on shares of Chipotle Mexican Grill from $64.00 to $60.00 and set a "buy" rating for the company in a research report on Friday, July 25th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $59.76.

Chipotle Mexican Grill Trading Down 0.4%

Shares of NYSE:CMG traded down $0.17 on Monday, reaching $39.92. 1,702,764 shares of the company were exchanged, compared to its average volume of 14,978,442. Chipotle Mexican Grill has a 1-year low of $38.30 and a 1-year high of $66.74. The firm has a market cap of $53.52 billion, a price-to-earnings ratio of 35.69, a price-to-earnings-growth ratio of 2.04 and a beta of 1.02. The company has a 50-day moving average of $42.47 and a 200-day moving average of $48.24.

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, topping the consensus estimate of $0.32 by $0.01. Chipotle Mexican Grill had a net margin of 13.32% and a return on equity of 43.50%. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same period in the previous year, the firm earned $0.34 EPS. The business's revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, analysts forecast that Chipotle Mexican Grill will post 1.29 earnings per share for the current year.

Institutional Investors Weigh In On Chipotle Mexican Grill

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Ascent Group LLC lifted its holdings in shares of Chipotle Mexican Grill by 3.5% in the 2nd quarter. Ascent Group LLC now owns 5,752 shares of the restaurant operator's stock valued at $323,000 after acquiring an additional 193 shares during the last quarter. E. Ohman J or Asset Management AB lifted its holdings in shares of Chipotle Mexican Grill by 0.3% in the 2nd quarter. E. Ohman J or Asset Management AB now owns 59,234 shares of the restaurant operator's stock valued at $3,326,000 after acquiring an additional 194 shares during the last quarter. Occidental Asset Management LLC lifted its holdings in shares of Chipotle Mexican Grill by 2.8% in the 2nd quarter. Occidental Asset Management LLC now owns 7,257 shares of the restaurant operator's stock valued at $407,000 after acquiring an additional 195 shares during the last quarter. Perennial Advisors LLC lifted its holdings in shares of Chipotle Mexican Grill by 3.1% in the 2nd quarter. Perennial Advisors LLC now owns 6,667 shares of the restaurant operator's stock valued at $374,000 after acquiring an additional 200 shares during the last quarter. Finally, Quent Capital LLC lifted its stake in Chipotle Mexican Grill by 2.0% in the second quarter. Quent Capital LLC now owns 10,555 shares of the restaurant operator's stock worth $593,000 after purchasing an additional 208 shares during the last quarter. 91.30% of the stock is currently owned by institutional investors.

Chipotle Mexican Grill Company Profile

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.

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