Chipotle Mexican Grill (NYSE:CMG) Lifted to Outperform at Wedbush

Wedbush upgraded shares of Chipotle Mexican Grill (NYSE:CMG) from a neutral rating to an outperform rating in a research report sent to investors on Monday, 24/7 WallStreet reports. Wedbush currently has $980.00 price objective on the restaurant operator’s stock, up from their prior price objective of $780.00. Wedbush also issued estimates for Chipotle Mexican Grill’s Q3 2019 earnings at $3.20 EPS, Q4 2019 earnings at $3.19 EPS, FY2019 earnings at $13.78 EPS, Q1 2020 earnings at $4.09 EPS, Q2 2020 earnings at $5.34 EPS, Q3 2020 earnings at $4.48 EPS, Q4 2020 earnings at $4.40 EPS, FY2020 earnings at $18.32 EPS, Q1 2021 earnings at $5.27 EPS, Q2 2021 earnings at $6.70 EPS and FY2021 earnings at $23.19 EPS.

Several other brokerages also recently issued reports on CMG. Stephens raised their price objective on shares of Chipotle Mexican Grill from $650.00 to $700.00 and gave the stock an equal weight rating in a research report on Wednesday, July 24th. Telsey Advisory Group restated a market perform rating and set a $750.00 price objective (up from $700.00) on shares of Chipotle Mexican Grill in a research report on Wednesday, July 24th. Morgan Stanley raised their price objective on shares of Chipotle Mexican Grill from $700.00 to $706.00 and gave the stock an equal weight rating in a research report on Wednesday, July 24th. ValuEngine downgraded shares of Chipotle Mexican Grill from a strong-buy rating to a buy rating in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Chipotle Mexican Grill from $650.00 to $705.00 and gave the company a neutral rating in a research report on Wednesday, July 24th. Seven analysts have rated the stock with a sell rating, twelve have given a hold rating and sixteen have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $709.58.

CMG stock traded up $8.06 during mid-day trading on Monday, hitting $807.27. 30,168 shares of the company were exchanged, compared to its average volume of 588,894. The business has a 50 day simple moving average of $812.34 and a 200-day simple moving average of $724.40. The company has a current ratio of 1.52, a quick ratio of 1.48 and a debt-to-equity ratio of 1.65. The stock has a market capitalization of $23.28 billion, a PE ratio of 89.07, a price-to-earnings-growth ratio of 3.35 and a beta of 0.71. Chipotle Mexican Grill has a 1-year low of $383.20 and a 1-year high of $857.90.



Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings data on Tuesday, July 23rd. The restaurant operator reported $3.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.68 by $0.31. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.41 billion. Chipotle Mexican Grill had a net margin of 4.80% and a return on equity of 21.50%. The business’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period last year, the business posted $2.87 earnings per share. Equities research analysts expect that Chipotle Mexican Grill will post 13.36 earnings per share for the current year.

In related news, CEO Brian R. Niccol sold 3,810 shares of Chipotle Mexican Grill stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $798.91, for a total value of $3,043,847.10. Following the transaction, the chief executive officer now directly owns 26,634 shares of the company’s stock, valued at $21,278,168.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Curtis E. Garner sold 1,272 shares of Chipotle Mexican Grill stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $850.00, for a total transaction of $1,081,200.00. Following the completion of the transaction, the chief technology officer now directly owns 7,280 shares in the company, valued at $6,188,000. The disclosure for this sale can be found here. Insiders sold 163,559 shares of company stock worth $125,535,353 over the last three months. 2.21% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Chipotle Mexican Grill by 9.7% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 5,237 shares of the restaurant operator’s stock valued at $3,838,000 after acquiring an additional 464 shares during the last quarter. EP Wealth Advisors LLC grew its stake in shares of Chipotle Mexican Grill by 45.3% during the second quarter. EP Wealth Advisors LLC now owns 436 shares of the restaurant operator’s stock worth $320,000 after buying an additional 136 shares during the last quarter. Atria Investments LLC grew its stake in shares of Chipotle Mexican Grill by 32.8% during the second quarter. Atria Investments LLC now owns 1,445 shares of the restaurant operator’s stock worth $1,166,000 after buying an additional 357 shares during the last quarter. Keudell Morrison Wealth Management bought a new stake in shares of Chipotle Mexican Grill during the second quarter worth $2,815,000. Finally, Treasurer of the State of North Carolina grew its stake in shares of Chipotle Mexican Grill by 2.7% during the second quarter. Treasurer of the State of North Carolina now owns 18,567 shares of the restaurant operator’s stock worth $13,607,000 after buying an additional 495 shares during the last quarter. 92.04% of the stock is currently owned by institutional investors and hedge funds.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill, Inc, together with its subsidiaries, operates Chipotle Mexican Grill restaurants. As of December 31, 2018, it operated 2,491 restaurants, including 2,452 Chipotle restaurants in the United States, 37 Chipotle restaurants internationally, and two non-Chipotle restaurants. The company was founded in 1993 and is headquartered in Newport Beach, California.

Featured Story: How to Trade Using Analysts Ratings

Analyst Recommendations for Chipotle Mexican Grill (NYSE:CMG)

Receive News & Ratings for Chipotle Mexican Grill Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chipotle Mexican Grill and related companies with MarketBeat.com's FREE daily email newsletter.