Chipotle Mexican Grill (NYSE:CMG) Coverage Initiated by Analysts at Telsey Advisory Group

Research analysts at Telsey Advisory Group assumed coverage on shares of Chipotle Mexican Grill (NYSE:CMG) in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage set an “outperform” rating and a $50.00 price target on the restaurant operator’s stock. Telsey Advisory Group’s target price indicates a potential upside of 27.67% from the company’s current price.

Several other brokerages have also issued reports on CMG. Royal Bank Of Canada dropped their target price on shares of Chipotle Mexican Grill from $58.00 to $40.00 and set an “outperform” rating for the company in a research report on Thursday, October 30th. Wells Fargo & Company lowered their price target on Chipotle Mexican Grill from $55.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Barclays upped their price objective on Chipotle Mexican Grill from $38.00 to $44.00 and gave the stock an “equal weight” rating in a report on Wednesday. Truist Financial raised their price objective on Chipotle Mexican Grill from $45.00 to $50.00 and gave the company a “buy” rating in a report on Thursday. Finally, Sanford C. Bernstein upped their target price on Chipotle Mexican Grill from $40.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $49.94.

Chipotle Mexican Grill Stock Up 0.8%

Shares of NYSE CMG opened at $39.16 on Friday. The firm has a market capitalization of $51.78 billion, a P/E ratio of 34.66, a P/E/G ratio of 3.79 and a beta of 0.97. The stock’s 50-day simple moving average is $34.40 and its two-hundred day simple moving average is $41.15. Chipotle Mexican Grill has a twelve month low of $29.75 and a twelve month high of $59.57.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings results on Wednesday, October 29th. The restaurant operator reported $0.29 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.29. Chipotle Mexican Grill had a return on equity of 45.39% and a net margin of 13.04%.The firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter last year, the company posted $0.27 EPS. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. As a group, research analysts anticipate that Chipotle Mexican Grill will post 1.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Capital World Investors grew its holdings in shares of Chipotle Mexican Grill by 122.7% during the third quarter. Capital World Investors now owns 87,844,788 shares of the restaurant operator’s stock valued at $3,442,645,000 after buying an additional 48,398,628 shares during the last quarter. Norges Bank bought a new stake in shares of Chipotle Mexican Grill in the second quarter worth $1,001,668,000. Capital International Investors increased its position in Chipotle Mexican Grill by 42.4% during the third quarter. Capital International Investors now owns 38,497,927 shares of the restaurant operator’s stock valued at $1,509,043,000 after acquiring an additional 11,471,658 shares during the last quarter. Sustainable Growth Advisers LP purchased a new stake in Chipotle Mexican Grill during the second quarter valued at $597,031,000. Finally, BlueSpruce Investments LP lifted its holdings in Chipotle Mexican Grill by 24,760.7% in the second quarter. BlueSpruce Investments LP now owns 3,930,732 shares of the restaurant operator’s stock valued at $220,711,000 after acquiring an additional 3,914,921 shares during the period. Institutional investors own 91.30% of the company’s stock.

Chipotle Mexican Grill Company Profile

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.