Maxim Group restated their buy rating on shares of Chipotle Mexican Grill (NYSE:CMG) in a research report sent to investors on Wednesday. They currently have a $410.00 price objective on the restaurant operator’s stock.
“We maintain our Buy rating and $410 price target on Chipotle Mexican Grill (CMG) following news that the company’s chief marketing officer, Mark Crumpacker, is exiting the company effective today. We regard today’s news as a sign that new CEO Brian Niccol is moving quickly to take action and make his presence known.”,” the firm’s analyst commented.
Several other equities research analysts have also issued reports on the company. Zacks Investment Research raised Chipotle Mexican Grill from a strong sell rating to a hold rating in a research note on Thursday, November 16th. William Blair lowered Chipotle Mexican Grill from an outperform rating to a market perform rating in a research note on Wednesday, November 29th. Wedbush reaffirmed a hold rating and set a $290.00 price target on shares of Chipotle Mexican Grill in a research note on Wednesday, November 29th. Credit Suisse Group reaffirmed a neutral rating and set a $263.00 price target (down previously from $301.99) on shares of Chipotle Mexican Grill in a research note on Thursday, November 30th. Finally, Canaccord Genuity reaffirmed a hold rating and set a $325.00 price target on shares of Chipotle Mexican Grill in a research note on Wednesday, November 29th. Eight equities research analysts have rated the stock with a sell rating, twenty-three have given a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $338.92.
Chipotle Mexican Grill (CMG) traded up $3.99 during trading on Wednesday, reaching $323.65. The company had a trading volume of 262,633 shares, compared to its average volume of 1,319,656. Chipotle Mexican Grill has a twelve month low of $247.51 and a twelve month high of $499.00. The stock has a market capitalization of $9,127.61, a PE ratio of 51.89, a price-to-earnings-growth ratio of 2.24 and a beta of 0.59.
Chipotle Mexican Grill (NYSE:CMG) last posted its earnings results on Tuesday, February 6th. The restaurant operator reported $1.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.02. Chipotle Mexican Grill had a return on equity of 13.44% and a net margin of 3.94%. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the previous year, the business earned $0.55 earnings per share. The firm’s revenue was up 7.3% on a year-over-year basis. equities analysts anticipate that Chipotle Mexican Grill will post 8.29 EPS for the current fiscal year.
In other Chipotle Mexican Grill news, Director Paul T. Cappuccio purchased 500 shares of Chipotle Mexican Grill stock in a transaction that occurred on Thursday, February 15th. The shares were bought at an average price of $290.88 per share, for a total transaction of $145,440.00. Following the acquisition, the director now directly owns 766 shares in the company, valued at $222,814.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Pershing Square Capital Manage purchased 420,322 shares of Chipotle Mexican Grill stock in a transaction that occurred on Wednesday, February 28th. The shares were acquired at an average price of $318.14 per share, for a total transaction of $133,721,241.08. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 423,822 shares of company stock worth $134,819,781. 2.01% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in CMG. Sharkey Howes & Javer increased its holdings in Chipotle Mexican Grill by 953.9% during the 4th quarter. Sharkey Howes & Javer now owns 12,647 shares of the restaurant operator’s stock valued at $115,000 after purchasing an additional 11,447 shares during the period. Mosaic Family Wealth LLC increased its holdings in Chipotle Mexican Grill by 1,356.7% during the 4th quarter. Mosaic Family Wealth LLC now owns 437 shares of the restaurant operator’s stock valued at $126,000 after purchasing an additional 407 shares during the period. First Interstate Bank increased its holdings in Chipotle Mexican Grill by 111.1% during the 3rd quarter. First Interstate Bank now owns 475 shares of the restaurant operator’s stock valued at $146,000 after purchasing an additional 250 shares during the period. Bronfman E.L. Rothschild L.P. increased its holdings in Chipotle Mexican Grill by 75.7% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 571 shares of the restaurant operator’s stock valued at $165,000 after purchasing an additional 246 shares during the period. Finally, SeaCrest Wealth Management LLC purchased a new position in Chipotle Mexican Grill during the 4th quarter valued at about $197,000. Institutional investors own 84.12% of the company’s stock.
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About Chipotle Mexican Grill
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.
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