Chipotle Mexican Grill, Inc. (CMG) Given a $510.00 Price Target by Piper Jaffray Companies Analysts

Chipotle Mexican Grill, Inc. (NYSE:CMG) received a $510.00 price objective from analysts at Piper Jaffray Companies in a research note issued to investors on Wednesday. The brokerage currently has a “buy” rating on the restaurant operator’s stock. Piper Jaffray Companies’ target price would indicate a potential upside of 62.33% from the company’s previous close.

CMG has been the topic of several other reports. Raymond James Financial, Inc. reiterated an “underperform” rating on shares of Chipotle Mexican Grill in a report on Tuesday, June 20th. Deutsche Bank AG reiterated a “sell” rating and issued a $350.00 price objective (up from $300.00) on shares of Chipotle Mexican Grill in a report on Monday, July 10th. Robert W. Baird reiterated a “hold” rating and issued a $385.00 price objective on shares of Chipotle Mexican Grill in a report on Friday, September 1st. Wells Fargo & Company reiterated a “market perform” rating and issued a $470.00 price objective on shares of Chipotle Mexican Grill in a report on Friday, July 14th. Finally, Goldman Sachs Group, Inc. (The) decreased their price objective on shares of Chipotle Mexican Grill from $440.00 to $375.00 and set a “neutral” rating on the stock in a report on Tuesday, July 25th. Seven investment analysts have rated the stock with a sell rating, twenty-three have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $392.13.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings data on Tuesday, July 25th. The restaurant operator reported $2.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.16 by $0.16. Chipotle Mexican Grill had a net margin of 3.17% and a return on equity of 10.65%. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the company earned $0.87 earnings per share. The company’s quarterly revenue was up 17.1% on a year-over-year basis.

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A number of large investors have recently added to or reduced their stakes in CMG. Carmignac Gestion increased its position in Chipotle Mexican Grill by 162.5% during the 2nd quarter. Carmignac Gestion now owns 516,751 shares of the restaurant operator’s stock valued at $215,020,000 after purchasing an additional 319,875 shares during the period. Renaissance Technologies LLC increased its position in Chipotle Mexican Grill by 169.1% during the 2nd quarter. Renaissance Technologies LLC now owns 446,100 shares of the restaurant operator’s stock valued at $185,622,000 after purchasing an additional 280,300 shares during the period. American Century Companies Inc. increased its position in Chipotle Mexican Grill by 59.8% during the 2nd quarter. American Century Companies Inc. now owns 563,698 shares of the restaurant operator’s stock valued at $234,555,000 after purchasing an additional 210,872 shares during the period. APG Asset Management N.V. increased its position in Chipotle Mexican Grill by 255.5% during the 2nd quarter. APG Asset Management N.V. now owns 277,125 shares of the restaurant operator’s stock valued at $115,312,000 after purchasing an additional 199,170 shares during the period. Finally, Numeric Investors LLC increased its position in Chipotle Me

CMG has been the topic of several other reports. Raymond James Financial, Inc. reiterated an “underperform” rating on shares of Chipotle Mexican Grill in a report on Tuesday, June 20th. Deutsche Bank AG reiterated a “sell” rating and issued a $350.00 price objective (up from $300.00) on shares of Chipotle Mexican Grill in a report on Monday, July 10th. Robert W. Baird reiterated a “hold” rating and issued a $385.00 price objective on shares of Chipotle Mexican Grill in a report on Friday, September 1st. Wells Fargo & Company reiterated a “market perform” rating and issued a $470.00 price objective on shares of Chipotle Mexican Grill in a report on Friday, July 14th. Finally, Goldman Sachs Group, Inc. (The) decreased their price objective on shares of Chipotle Mexican Grill from $440.00 to $375.00 and set a “neutral” rating on the stock in a report on Tuesday, July 25th. Seven investment analysts have rated the stock with a sell rating, twenty-three have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $392.13.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings data on Tuesday, July 25th. The restaurant operator reported $2.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.16 by $0.16. Chipotle Mexican Grill had a net margin of 3.17% and a return on equity of 10.65%. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the company earned $0.87 earnings per share. The company’s quarterly revenue was up 17.1% on a year-over-year basis.

ILLEGAL ACTIVITY NOTICE: This piece of content was posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece of content on another publication, it was illegally stolen and republished in violation of United States & international trademark & copyright law. The correct version of this piece of content can be viewed at https://ledgergazette.com/2017/10/13/chipotle-mexican-grill-inc-cmg-given-a-510-00-price-target-by-piper-jaffray-companies-analysts.html.

A number of large investors have recently added to or reduced their stakes in CMG. Carmignac Gestion increased its position in Chipotle Mexican Grill by 162.5% during the 2nd quarter. Carmignac Gestion now owns 516,751 shares of the restaurant operator’s stock valued at $215,020,000 after purchasing an additional 319,875 shares during the period. Renaissance Technologies LLC increased its position in Chipotle Mexican Grill by 169.1% during the 2nd quarter. Renaissance Technologies LLC now owns 446,100 shares of the restaurant operator’s stock valued at $185,622,000 after purchasing an additional 280,300 shares during the period. American Century Companies Inc. increased its position in Chipotle Mexican Grill by 59.8% during the 2nd quarter. American Century Companies Inc. now owns 563,698 shares of the restaurant operator’s stock valued at $234,555,000 after purchasing an additional 210,872 shares during the period. APG Asset Management N.V. increased its position in Chipotle Mexican Grill by 255.5% during the 2nd quarter. APG Asset Management N.V. now owns 277,125 shares of the restaurant operator’s stock valued at $115,312,000 after purchasing an additional 199,170 shares during the period. Finally, Numeric Investors LLC increased its position in Chipotle Mexican Grill by 8,366.4% during the 2nd quarter. Numeric Investors LLC now owns 110,910 shares of the restaurant operator’s stock valued at $46,150,000 after purchasing an additional 109,600 shares during the period. 90.04% of the stock is owned by institutional investors and hedge funds.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill, Inc (Chipotle), together with its subsidiaries, operates Chipotle Mexican Grill restaurants. The Company’s Chipotle Mexican Grill restaurants serve a menu of burritos, tacos, burrito bowls (a burrito without the tortilla) and salads. As of December 31, 2016, the Company managed its operations and restaurants based on 11 regions.

Analyst Recommendations for Chipotle Mexican Grill (NYSE:CMG)

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