Chipotle Mexican Grill (NYSE:CMG) Upgraded by Mizuho to Outperform Rating

Chipotle Mexican Grill (NYSE:CMG) was upgraded by research analysts at Mizuho from a “neutral” rating to an “outperform” rating in a research report issued on Friday,Benzinga reports. The firm currently has a $40.00 price objective on the restaurant operator’s stock, up from their previous price objective of $37.00. Mizuho’s price target would indicate a potential upside of 21.34% from the company’s current price.

Several other equities research analysts have also recently commented on the stock. The Goldman Sachs Group reissued a “buy” rating on shares of Chipotle Mexican Grill in a research report on Thursday, December 18th. Morgan Stanley lowered their target price on Chipotle Mexican Grill from $50.00 to $49.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 4th. KeyCorp dropped their target price on Chipotle Mexican Grill from $45.00 to $42.00 and set an “overweight” rating on the stock in a report on Wednesday, February 4th. Piper Sandler reduced their price target on Chipotle Mexican Grill from $47.00 to $44.00 and set an “overweight” rating for the company in a research report on Wednesday, February 4th. Finally, BTIG Research reaffirmed a “buy” rating and set a $45.00 price target on shares of Chipotle Mexican Grill in a research report on Wednesday, February 4th. Twenty-four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $47.47.

Chipotle Mexican Grill Stock Performance

Shares of Chipotle Mexican Grill stock opened at $32.96 on Friday. The firm has a market cap of $42.93 billion, a PE ratio of 28.92, a P/E/G ratio of 2.00 and a beta of 1.00. The business’s 50 day simple moving average is $37.61 and its 200 day simple moving average is $37.32. Chipotle Mexican Grill has a 52-week low of $29.75 and a 52-week high of $58.42.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings results on Tuesday, February 3rd. The restaurant operator reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The firm had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $2.96 billion. Chipotle Mexican Grill had a return on equity of 47.99% and a net margin of 12.88%.The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 EPS. As a group, equities research analysts predict that Chipotle Mexican Grill will post 1.29 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Operose Advisors LLC bought a new position in Chipotle Mexican Grill during the second quarter worth $25,000. Financial Life Planners acquired a new stake in shares of Chipotle Mexican Grill during the 3rd quarter worth about $25,000. Wealth Watch Advisors INC acquired a new stake in shares of Chipotle Mexican Grill during the 3rd quarter worth about $25,000. Salomon & Ludwin LLC bought a new stake in shares of Chipotle Mexican Grill during the 3rd quarter worth about $26,000. Finally, MV Capital Management Inc. acquired a new position in Chipotle Mexican Grill in the 4th quarter valued at about $26,000. 91.30% of the stock is owned by institutional investors and hedge funds.

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.