Chipotle Mexican Grill (NYSE:CMG) Earns Buy Rating from Analysts at DA Davidson

Analysts at DA Davidson started coverage on shares of Chipotle Mexican Grill (NYSE:CMG) in a research note issued to investors on Friday,Benzinga reports. The firm set a “buy” rating and a $51.00 price target on the restaurant operator’s stock. DA Davidson’s target price would indicate a potential upside of 37.69% from the company’s previous close.

A number of other research analysts also recently issued reports on the company. Raymond James Financial increased their price objective on Chipotle Mexican Grill from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, January 21st. KeyCorp reduced their price target on Chipotle Mexican Grill from $45.00 to $42.00 and set an “overweight” rating for the company in a research report on Wednesday, February 4th. Sanford C. Bernstein raised their price target on shares of Chipotle Mexican Grill from $40.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, January 5th. Morgan Stanley cut their price objective on shares of Chipotle Mexican Grill from $50.00 to $49.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 4th. Finally, Gordon Haskett lowered shares of Chipotle Mexican Grill from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 8th. Twenty-three investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Chipotle Mexican Grill has a consensus rating of “Moderate Buy” and an average target price of $47.37.

Chipotle Mexican Grill Stock Up 0.9%

Shares of NYSE:CMG opened at $37.04 on Friday. The firm has a market cap of $48.24 billion, a price-to-earnings ratio of 32.49, a PEG ratio of 2.26 and a beta of 1.00. Chipotle Mexican Grill has a 12 month low of $29.75 and a 12 month high of $58.42. The company’s fifty day simple moving average is $38.41 and its 200 day simple moving average is $37.95.

Chipotle Mexican Grill (NYSE:CMG) last released its earnings results on Tuesday, February 3rd. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. Chipotle Mexican Grill had a return on equity of 47.99% and a net margin of 12.88%.The firm had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter in the prior year, the company earned $0.25 EPS. The company’s revenue was up 4.9% on a year-over-year basis. Research analysts expect that Chipotle Mexican Grill will post 1.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Chipotle Mexican Grill

A number of institutional investors have recently added to or reduced their stakes in CMG. Vanguard Group Inc. raised its holdings in Chipotle Mexican Grill by 14.8% in the 4th quarter. Vanguard Group Inc. now owns 144,588,220 shares of the restaurant operator’s stock valued at $5,349,764,000 after acquiring an additional 18,660,882 shares during the period. Capital World Investors boosted its holdings in shares of Chipotle Mexican Grill by 15.8% during the fourth quarter. Capital World Investors now owns 101,688,010 shares of the restaurant operator’s stock worth $3,762,457,000 after acquiring an additional 13,843,222 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Chipotle Mexican Grill by 18.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 58,447,867 shares of the restaurant operator’s stock valued at $2,162,572,000 after purchasing an additional 9,237,720 shares during the last quarter. Capital International Investors increased its stake in shares of Chipotle Mexican Grill by 17.7% during the fourth quarter. Capital International Investors now owns 45,294,212 shares of the restaurant operator’s stock worth $1,675,895,000 after purchasing an additional 6,796,285 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in Chipotle Mexican Grill by 1.9% during the 2nd quarter. Alliancebernstein L.P. now owns 33,111,508 shares of the restaurant operator’s stock worth $1,859,211,000 after purchasing an additional 606,190 shares during the last quarter. 91.30% of the stock is currently owned by institutional investors and hedge funds.

About Chipotle Mexican Grill

Chipotle Mexican Grill is a fast-casual restaurant company known for its Mexican-inspired menu of burritos, bowls, tacos and salads. Founded in 1993 by Steve Ells, the chain emphasizes fresh, customizable meals made from a limited menu of core ingredients and a focus on ingredient quality. Chipotle operates primarily company-owned restaurants and offers dine-in, takeout, catering and delivery through its own digital platforms and third-party partners.

The company is headquartered in Newport Beach, California, and traces its roots to Denver, Colorado.