Chipotle Mexican Grill (NYSE:CMG) Receives “Buy” Rating from TD Cowen

Chipotle Mexican Grill (NYSE:CMG)‘s stock had its “buy” rating reissued by research analysts at TD Cowen in a research report issued on Friday,Benzinga reports. They presently have a $44.00 target price on the restaurant operator’s stock. TD Cowen’s target price would indicate a potential upside of 33.48% from the company’s previous close.

CMG has been the topic of a number of other research reports. Wall Street Zen raised Chipotle Mexican Grill from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. UBS Group reissued a “buy” rating on shares of Chipotle Mexican Grill in a research report on Monday, January 26th. Wells Fargo & Company decreased their price objective on shares of Chipotle Mexican Grill from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, February 4th. Evercore reissued an “outperform” rating and set a $45.00 target price on shares of Chipotle Mexican Grill in a report on Friday, December 19th. Finally, Argus reaffirmed a “hold” rating on shares of Chipotle Mexican Grill in a report on Thursday, February 5th. Twenty-four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Chipotle Mexican Grill currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.47.

Chipotle Mexican Grill Stock Performance

CMG opened at $32.96 on Friday. The company has a market capitalization of $42.93 billion, a P/E ratio of 28.92, a PEG ratio of 2.00 and a beta of 1.00. The company has a 50-day moving average of $37.61 and a 200-day moving average of $37.32. Chipotle Mexican Grill has a 1-year low of $29.75 and a 1-year high of $58.42.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings results on Tuesday, February 3rd. The restaurant operator reported $0.25 EPS for the quarter, topping the consensus estimate of $0.24 by $0.01. The business had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.96 billion. Chipotle Mexican Grill had a net margin of 12.88% and a return on equity of 47.99%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.25 earnings per share. As a group, sell-side 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

Several hedge funds and other institutional investors have recently modified their holdings of the company. Revolve Wealth Partners LLC increased its holdings in shares of Chipotle Mexican Grill by 4.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 4,804 shares of the restaurant operator’s stock worth $290,000 after acquiring an additional 214 shares during the period. Bison Wealth LLC acquired a new position in Chipotle Mexican Grill during the 4th quarter valued at about $224,000. Empowered Funds LLC grew its position in Chipotle Mexican Grill by 5.5% in the 1st quarter. Empowered Funds LLC now owns 26,460 shares of the restaurant operator’s stock worth $1,329,000 after purchasing an additional 1,368 shares during the last quarter. Wealthspire Advisors LLC grew its position in Chipotle Mexican Grill by 5.1% in the 2nd quarter. Wealthspire Advisors LLC now owns 12,464 shares of the restaurant operator’s stock worth $700,000 after purchasing an additional 609 shares during the last quarter. Finally, Prudential PLC grew its position in Chipotle Mexican Grill by 45.5% in the 2nd quarter. Prudential PLC now owns 83,073 shares of the restaurant operator’s stock worth $4,665,000 after purchasing an additional 25,973 shares during the last quarter. Institutional investors and hedge funds own 91.30% of the company’s stock.

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.