Chipotle Mexican Grill, Inc. (CMG) Upgraded by Telsey Advisory Group to “Outperform”

Chipotle Mexican Grill, Inc. (NYSE:CMG) was upgraded by equities research analysts at Telsey Advisory Group from a “market perform” rating to an “outperform” rating in a report issued on Wednesday, MarketBeat Ratings reports. The firm presently has a $440.00 price objective on the restaurant operator’s stock. Telsey Advisory Group’s price target suggests a potential upside of 23.58% from the company’s previous close.

A number of other research firms have also recently weighed in on CMG. SunTrust Banks, Inc. lifted their price target on Chipotle Mexican Grill from $500.00 to $550.00 and gave the company a “buy” rating in a report on Wednesday, April 26th. Mizuho reissued a “buy” rating and set a $533.00 target price on shares of Chipotle Mexican Grill in a report on Wednesday, June 21st. Oppenheimer Holdings, Inc. reissued a “market perform” rating on shares of Chipotle Mexican Grill in a report on Wednesday, July 12th. Standpoint Research began coverage on Chipotle Mexican Grill in a report on Wednesday, April 19th. They set a “sell” rating and a $420.00 target price on the stock. Finally, Maxim Group reissued a “hold” rating and set a $440.00 target price on shares of Chipotle Mexican Grill in a report on Tuesday, June 20th. Nine equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $436.81.

Chipotle Mexican Grill (CMG) opened at 356.05 on Wednesday. The firm’s 50-day moving average price is $427.08 and its 200 day moving average price is $434.55. Chipotle Mexican Grill has a 52-week low of $352.96 and a 52-week high of $499.00. The firm has a market cap of $10.21 billion, a PE ratio of 110.13 and a beta of 0.64. Chipotle Mexican Grill also saw some unusual options trading on Tuesday. Stock traders acquired 25,703 put options on the company. This is an increase of approximately 307% compared to the average volume of 6,322 put options.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings results on Tuesday, April 25th. The restaurant operator reported $1.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.32. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Chipotle Mexican Grill had a return on equity of 7.72% and a net margin of 2.31%. The business’s revenue for the quarter was up 28.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.88) earnings per share. On average, equities analysts anticipate that Chipotle Mexican Grill will post $8.03 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the company. Bank of Montreal Can raised its position in shares of Chipotle Mexican Grill by 118.9% in the first quarter. Bank of Montreal Can now owns 26,505 shares of the restaurant operator’s stock worth $11,808,000 after buying an additional 14,397 shares during the last quarter. Pennsylvania Trust Co bought a new position in shares of Chipotle Mexican Grill during the first quarter worth about $267,000. National Pension Service raised its position in shares of Chipotle Mexican Grill by 9.3% in the first quarter. National Pension Service now owns 28,572 shares of the restaurant operator’s stock worth $12,684,000 after buying an additional 2,422 shares during the last quarter. Gulf International Bank UK Ltd raised its position in shares of Chipotle Mexican Grill by 0.8% in the first quarter. Gulf International Bank UK Ltd now owns 9,197 shares of the restaurant operator’s stock worth $4,097,000 after buying an additional 75 shares during the last quarter. Finally, Puplava Financial Services Inc. bought a new position in shares of Chipotle Mexican Grill during the first quarter worth about $347,000. Institutional investors own 95.62% of the company’s stock.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill, Inc (Chipotle), together with its subsidiaries, operates Chipotle Mexican Grill restaurants. The Company’s Chipotle Mexican Grill restaurants serve a menu of burritos, tacos, burrito bowls (a burrito without the tortilla) and salads. As of December 31, 2016, the Company managed its operations and restaurants based on 11 regions.