TD Securities Reaffirms Buy Rating for Chipotle Mexican Grill (NYSE:CMG)

Chipotle Mexican Grill (NYSE:CMG)‘s stock had its “buy” rating restated by analysts at TD Securities in a note issued to investors on Wednesday,Benzinga reports. They presently have a $57.00 target price on the restaurant operator’s stock. TD Securities’ price objective would suggest a potential upside of 10.92% from the company’s previous close.

A number of other analysts also recently issued reports on the stock. Citigroup decreased their price objective on shares of Chipotle Mexican Grill from $70.00 to $62.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Barclays decreased their price objective on shares of Chipotle Mexican Grill from $60.00 to $56.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Morgan Stanley decreased their price objective on shares of Chipotle Mexican Grill from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. Robert W. Baird decreased their price objective on shares of Chipotle Mexican Grill from $62.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, April 24th. Finally, Stifel Nicolaus reduced their target price on shares of Chipotle Mexican Grill from $68.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, March 19th. Ten analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Chipotle Mexican Grill has an average rating of “Moderate Buy” and a consensus target price of $61.37.

Chipotle Mexican Grill Price Performance

Shares of Chipotle Mexican Grill stock opened at $51.39 on Wednesday. The stock has a fifty day moving average price of $50.52 and a 200-day moving average price of $54.14. The firm has a market cap of $69.24 billion, a PE ratio of 45.48, a P/E/G ratio of 2.61 and a beta of 1.06. Chipotle Mexican Grill has a 1 year low of $44.46 and a 1 year high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings data on Wednesday, April 23rd. The restaurant operator reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. Chipotle Mexican Grill had a net margin of 13.59% and a return on equity of 43.29%. The business had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter last year, the company posted $13.37 earnings per share. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. As a group, equities analysts anticipate that Chipotle Mexican Grill will post 1.29 EPS for the current fiscal year.

Insider Activity

In related news, insider Roger E. Theodoredis sold 113,875 shares of Chipotle Mexican Grill stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $49.70, for a total value of $5,659,587.50. Following the transaction, the insider now owns 109,815 shares in the company, valued at $5,457,805.50. This trade represents a 50.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

A number of large investors have recently added to or reduced their stakes in CMG. Raymond James Financial Inc. bought a new stake in Chipotle Mexican Grill in the 4th quarter worth $315,220,000. Vinva Investment Management Ltd grew its holdings in Chipotle Mexican Grill by 50.6% in the 4th quarter. Vinva Investment Management Ltd now owns 65,069 shares of the restaurant operator’s stock worth $3,910,000 after acquiring an additional 21,864 shares during the last quarter. ING Groep NV grew its holdings in Chipotle Mexican Grill by 203.4% in the 4th quarter. ING Groep NV now owns 524,132 shares of the restaurant operator’s stock worth $31,605,000 after acquiring an additional 351,382 shares during the last quarter. Community Trust & Investment Co. bought a new stake in Chipotle Mexican Grill in the 1st quarter worth $7,773,000. Finally, K.J. Harrison & Partners Inc grew its holdings in Chipotle Mexican Grill by 46.7% in the 4th quarter. K.J. Harrison & Partners Inc now owns 50,250 shares of the restaurant operator’s stock worth $3,009,000 after acquiring an additional 16,000 shares during the last quarter. Hedge funds and other institutional investors own 91.31% of the company’s stock.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. It sells food and beverages through offering burritos, burrito bowls, quesadillas, tacos, and salads. The company also provides delivery and related services its app and website. It has operations in the United States, Canada, France, Germany, and the United Kingdom.