Bank of America upgraded shares of Chipotle Mexican Grill (NYSE:CMG) from an underperform rating to a neutral rating in a research report report published on Friday, 24/7 WallStreet reports. Bank of America currently has $850.00 target price on the restaurant operator’s stock, up from their previous target price of $590.00.

Other analysts also recently issued research reports about the stock. Gordon Haskett upgraded shares of Chipotle Mexican Grill from an underperform rating to a hold rating and lifted their target price for the company from $620.00 to $740.00 in a report on Wednesday, October 9th. Mizuho lifted their target price on shares of Chipotle Mexican Grill from $420.00 to $500.00 and gave the company an underperform rating in a report on Wednesday, July 24th. BTIG Research lifted their target price on shares of Chipotle Mexican Grill from $790.00 to $845.00 and gave the company a buy rating in a report on Wednesday, July 24th. They noted that the move was a valuation call. Goldman Sachs Group set a $1,000.00 target price on shares of Chipotle Mexican Grill and gave the company a buy rating in a report on Friday, August 30th. Finally, Wells Fargo & Co lifted their target price on shares of Chipotle Mexican Grill from $714.00 to $796.00 and gave the company a market perform rating in a report on Thursday, October 10th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Chipotle Mexican Grill currently has an average rating of Hold and a consensus target price of $753.68.

Chipotle Mexican Grill stock opened at $851.54 on Friday. Chipotle Mexican Grill has a fifty-two week low of $383.20 and a fifty-two week high of $857.90. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.48 and a current ratio of 1.52. The firm has a 50 day moving average price of $824.87 and a 200 day moving average price of $759.15. The company has a market capitalization of $22.98 billion, a PE ratio of 93.99, a price-to-earnings-growth ratio of 3.36 and a beta of 0.70.

Chipotle Mexican Grill (NYSE:CMG) last posted its earnings results on Tuesday, July 23rd. The restaurant operator reported $3.99 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.68 by $0.31. Chipotle Mexican Grill had a net margin of 4.80% and a return on equity of 21.50%. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter last year, the firm earned $2.87 EPS. The firm’s revenue for the quarter was up 13.2% on a year-over-year basis. As a group, equities research analysts forecast that Chipotle Mexican Grill will post 13.4 earnings per share for the current year.

In related news, CEO Brian R. Niccol sold 772 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $843.90, for a total transaction of $651,490.80. Following the completion of the transaction, the chief executive officer now owns 26,634 shares in the company, valued at $22,476,432.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Albert S. Baldocchi sold 1,164 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $775.00, for a total transaction of $902,100.00. Following the transaction, the director now owns 72,756 shares of the company’s stock, valued at approximately $56,385,900. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,531 shares of company stock valued at $91,910,364. Insiders own 2.21% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Commonwealth Bank of Australia grew its stake in shares of Chipotle Mexican Grill by 77.3% during the second quarter. Commonwealth Bank of Australia now owns 39 shares of the restaurant operator’s stock worth $26,000 after purchasing an additional 17 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Chipotle Mexican Grill during the second quarter worth $36,000. Griffin Asset Management Inc. acquired a new position in shares of Chipotle Mexican Grill during the second quarter worth $41,000. Liberty Wealth Management LLC grew its stake in shares of Chipotle Mexican Grill by 123.1% during the second quarter. Liberty Wealth Management LLC now owns 87 shares of the restaurant operator’s stock worth $64,000 after purchasing an additional 48 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new stake in Chipotle Mexican Grill in the second quarter valued at $82,000. Hedge funds and other institutional investors own 92.04% of the company’s stock.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill, Inc, together with its subsidiaries, operates Chipotle Mexican Grill restaurants. As of December 31, 2018, it operated 2,491 restaurants, including 2,452 Chipotle restaurants in the United States, 37 Chipotle restaurants internationally, and two non-Chipotle restaurants. The company was founded in 1993 and is headquartered in Newport Beach, California.

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Analyst Recommendations for Chipotle Mexican Grill (NYSE:CMG)

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