Brokerages Set Chipotle Mexican Grill, Inc. (NYSE:CMG) PT at $45.10

Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) have received an average rating of “Moderate Buy” from the thirty-four research firms that are covering the firm, Marketbeat reports. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $45.10.

Several equities analysts have issued reports on the stock. DA Davidson assumed coverage on shares of Chipotle Mexican Grill in a research report on Friday, March 6th. They issued a “buy” rating and a $51.00 price target for the company. BTIG Research restated a “buy” rating and issued a $45.00 price target on shares of Chipotle Mexican Grill in a research report on Thursday, April 30th. Royal Bank Of Canada restated an “outperform” rating and issued a $45.00 price target on shares of Chipotle Mexican Grill in a research report on Thursday, April 30th. Mizuho upgraded shares of Chipotle Mexican Grill from a “neutral” rating to an “outperform” rating and upped their price target for the company from $37.00 to $40.00 in a research report on Friday, March 20th. Finally, Citigroup upped their price objective on shares of Chipotle Mexican Grill from $44.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, April 30th.

Chipotle Mexican Grill Stock Performance

Shares of NYSE CMG opened at $33.37 on Wednesday. Chipotle Mexican Grill has a 52-week low of $28.03 and a 52-week high of $58.42. The firm has a 50 day moving average price of $32.37 and a two-hundred day moving average price of $35.08. The stock has a market cap of $42.80 billion, a P/E ratio of 30.61, a price-to-earnings-growth ratio of 2.08 and a beta of 0.99.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Wednesday, April 29th. The restaurant operator reported $0.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.24. Chipotle Mexican Grill had a net margin of 11.96% and a return on equity of 49.64%. The firm had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.07 billion. During the same period in the prior year, the company posted $0.29 EPS. The company’s revenue was up 7.4% on a year-over-year basis. Analysts predict that Chipotle Mexican Grill will post 1.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CMG. Vanguard Group Inc. increased its holdings in Chipotle Mexican Grill by 14.8% during the fourth quarter. Vanguard Group Inc. now owns 144,588,220 shares of the restaurant operator’s stock worth $5,349,764,000 after buying an additional 18,660,882 shares during the last quarter. Capital World Investors increased its holdings in Chipotle Mexican Grill by 15.8% during the fourth quarter. Capital World Investors now owns 101,688,010 shares of the restaurant operator’s stock worth $3,762,457,000 after buying an additional 13,843,222 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Chipotle Mexican Grill by 18.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 58,447,867 shares of the restaurant operator’s stock worth $2,162,572,000 after buying an additional 9,237,720 shares during the last quarter. Capital International Investors boosted its position in Chipotle Mexican Grill by 17.7% during the fourth quarter. Capital International Investors now owns 45,294,212 shares of the restaurant operator’s stock worth $1,675,895,000 after purchasing an additional 6,796,285 shares during the period. Finally, Norges Bank bought a new position in Chipotle Mexican Grill during the fourth quarter worth about $711,837,000. 91.30% of the stock is owned by institutional investors.

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.