Maxim Group reiterated their buy rating on shares of Chipotle Mexican Grill (NYSE:CMG) in a research report released on Wednesday. They currently have a $410.00 price target on the restaurant operator’s stock.
“We maintain our Buy rating and $410 price target on Chipotle Mexican Grill (CMG) following news that the company’s chief marketing officer, Mark Crumpacker, is exiting the company effective today. We regard today’s news as a sign that new CEO Brian Niccol is moving quickly to take action and make his presence known.”,” Maxim Group’s analyst commented.
A number of other brokerages also recently issued reports on CMG. William Blair reiterated a hold rating on shares of Chipotle Mexican Grill in a research note on Monday, January 22nd. Raymond James Financial upgraded Chipotle Mexican Grill from an underperform rating to a market perform rating in a research note on Friday, January 19th. Citigroup upgraded Chipotle Mexican Grill to a market perform rating in a research note on Friday, January 19th. They noted that the move was a valuation call. Credit Suisse Group reiterated a neutral rating and set a $330.00 price objective (up from $275.00) on shares of Chipotle Mexican Grill in a research note on Tuesday, January 23rd. Finally, Barclays reiterated an equal weight rating and set a $325.00 price objective (up from $280.00) on shares of Chipotle Mexican Grill in a research note on Tuesday, January 16th. Eight equities research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and nine have assigned a buy rating to the stock. Chipotle Mexican Grill currently has a consensus rating of Hold and an average price target of $338.92.
Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data on Tuesday, February 6th. The restaurant operator reported $1.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.32 by $0.02. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.11 billion. Chipotle Mexican Grill had a return on equity of 13.44% and a net margin of 3.94%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 EPS. equities analysts expect that Chipotle Mexican Grill will post 8.25 EPS for the current year.
In related news, Director Paul T. Cappuccio purchased 500 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were bought at an average price of $290.88 per share, for a total transaction of $145,440.00. Following the acquisition, the director now owns 766 shares of the company’s stock, valued at approximately $222,814.08. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ali Namvar purchased 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were bought at an average price of $317.70 per share, for a total transaction of $953,100.00. The disclosure for this purchase can be found here. Insiders have bought a total of 423,822 shares of company stock worth $134,819,781 over the last ninety days. Insiders own 2.01% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Griffin Asset Management Inc. purchased a new stake in Chipotle Mexican Grill during the 3rd quarter valued at $524,000. Janus Henderson Group PLC raised its holdings in Chipotle Mexican Grill by 332.5% during the 3rd quarter. Janus Henderson Group PLC now owns 161,721 shares of the restaurant operator’s stock valued at $49,782,000 after buying an additional 124,330 shares during the period. Stifel Financial Corp raised its holdings in Chipotle Mexican Grill by 72.8% during the 3rd quarter. Stifel Financial Corp now owns 8,677 shares of the restaurant operator’s stock valued at $2,757,000 after buying an additional 3,657 shares during the period. Archon Capital Management LLC purchased a new stake in Chipotle Mexican Grill during the 3rd quarter valued at $7,834,000. Finally, BB&T Securities LLC raised its holdings in Chipotle Mexican Grill by 15.8% during the 3rd quarter. BB&T Securities LLC now owns 2,669 shares of the restaurant operator’s stock valued at $821,000 after buying an additional 364 shares during the period. Institutional investors own 84.12% of the company’s stock.
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About Chipotle Mexican Grill
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.
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