Chipotle Mexican Grill (NYSE:CMG) Given New $45.00 Price Target at Argus

Chipotle Mexican Grill (NYSE:CMG) had its target price upped by stock analysts at Argus from $40.00 to $45.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the restaurant operator’s stock. Argus’ target price suggests a potential upside of 21.16% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. JPMorgan Chase & Co. upgraded Chipotle Mexican Grill from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $38.00 to $35.00 in a report on Friday, June 5th. Weiss Ratings cut shares of Chipotle Mexican Grill from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, July 24th. UBS Group reissued a “buy” rating on shares of Chipotle Mexican Grill in a research report on Friday. Sanford C. Bernstein restated an “outperform” rating on shares of Chipotle Mexican Grill in a report on Friday. Finally, DA Davidson upped their target price on shares of Chipotle Mexican Grill from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Twenty-four analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $44.16.

Chipotle Mexican Grill Trading Down 0.8%

NYSE CMG traded down $0.32 during trading hours on Tuesday, reaching $37.14. The company had a trading volume of 1,456,519 shares, compared to its average volume of 17,724,416. The stock has a market capitalization of $47.64 billion, a P/E ratio of 34.11, a price-to-earnings-growth ratio of 2.39 and a beta of 0.94. The stock has a 50-day moving average of $32.94 and a 200 day moving average of $34.56. Chipotle Mexican Grill has a 1-year low of $28.03 and a 1-year high of $44.27.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings data on Wednesday, July 29th. The restaurant operator reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The business had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.33 billion. Chipotle Mexican Grill had a return on equity of 54.65% and a net margin of 11.43%.The company’s revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.33 earnings per share. As a group, sell-side analysts predict that Chipotle Mexican Grill will post 1.14 EPS for the current year.

Hedge Funds Weigh In On Chipotle Mexican Grill

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wealth Watch Advisors INC purchased a new position in Chipotle Mexican Grill in the third quarter worth approximately $25,000. MV Capital Management Inc. purchased a new stake in shares of Chipotle Mexican Grill in the 4th quarter valued at approximately $26,000. Osbon Capital Management LLC purchased a new stake in shares of Chipotle Mexican Grill in the 4th quarter valued at approximately $28,000. Merkkuri Wealth Advisors LLC acquired a new stake in shares of Chipotle Mexican Grill in the 1st quarter valued at $28,000. Finally, Rule One Partners LLC acquired a new stake in shares of Chipotle Mexican Grill in the 1st quarter valued at $32,000. 91.30% of the stock is 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.