TD Cowen Reaffirms "Buy" Rating for Chipotle Mexican Grill (NYSE:CMG)

Key Points

• TD Cowen has reaffirmed a "Buy" rating for Chipotle Mexican Grill (NYSE:CMG) with a target price of $58.00, indicating a potential upside of 45.62% from current levels.
• Recent analyst ratings show a mix of upgrades and downgrades, with two analysts giving a Strong Buy rating, twenty-one assigning a Buy rating, and a consensus target price of $59.76.
• Chipotle reported earnings of $0.33 per share for the last quarter, slightly exceeding expectations, with a revenue of $3.06 billion, an increase of 3.0% year-over-year.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report)'s stock had its "buy" rating restated by equities researchers at TD Cowen in a note issued to investors on Friday,Benzinga reports. They currently have a $58.00 price objective on the restaurant operator's stock. TD Cowen's target price would suggest a potential upside of 45.62% from the stock's current price.

A number of other analysts have also recently weighed in on CMG. BMO Capital Markets raised shares of Chipotle Mexican Grill from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $56.00 to $65.00 in a research note on Friday, July 18th. Robert W. Baird decreased their target price on shares of Chipotle Mexican Grill from $62.00 to $59.00 and set an "outperform" rating on the stock in a research note on Thursday, July 24th. Guggenheim reduced their price objective on shares of Chipotle Mexican Grill from $47.00 to $46.00 and set a "neutral" rating on the stock in a research note on Friday, July 25th. Citigroup reduced their price objective 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. Finally, Stephens reissued an "equal weight" rating and issued a $60.00 price objective on shares of Chipotle Mexican Grill in a research note on Thursday, September 11th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, Chipotle Mexican Grill currently has an average rating of "Moderate Buy" and a consensus target price of $59.76.

Chipotle Mexican Grill Stock Performance

NYSE CMG opened at $39.83 on Friday. The firm's fifty day moving average price is $44.22 and its two-hundred day moving average price is $48.74. The stock has a market cap of $53.41 billion, a PE ratio of 35.56, a PEG ratio of 2.02 and a beta of 1.02. Chipotle Mexican Grill has a fifty-two week low of $38.30 and a fifty-two week high of $66.74.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.32 by $0.01. The firm had revenue of $3.06 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.34 earnings per share. As a group, sell-side analysts predict that Chipotle Mexican Grill will post 1.29 earnings per share for the current fiscal year.

Institutional Trading of Chipotle Mexican Grill

Institutional investors have recently bought and sold shares of the company. Operose Advisors LLC bought a new stake in Chipotle Mexican Grill during the second quarter valued at $25,000. Signature Resources Capital Management LLC bought a new stake in Chipotle Mexican Grill during the second quarter valued at $28,000. Lavaca Capital LLC bought a new stake in Chipotle Mexican Grill during the second quarter valued at $28,000. Cloud Capital Management LLC bought a new stake in Chipotle Mexican Grill during the first quarter valued at $25,000. Finally, Activest Wealth Management boosted its position in Chipotle Mexican Grill by 109.3% during the second quarter. Activest Wealth Management now owns 517 shares of the restaurant operator's stock valued at $29,000 after acquiring an additional 270 shares during the last quarter. Institutional investors own 91.30% of the company's stock.

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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