Canaccord Genuity Reiterates “Hold” Rating for Chipotle Mexican Grill (CMG)

Canaccord Genuity reissued their hold rating on shares of Chipotle Mexican Grill (NYSE:CMG) in a report issued on Wednesday morning, MarketBeat.com reports. The brokerage currently has a $300.00 price target on the restaurant operator’s stock, down from their previous price target of $325.00.

Several other equities analysts also recently issued reports on the stock. Zacks Investment Research raised shares of Chipotle Mexican Grill from a strong sell rating to a hold rating in a research note on Thursday, November 16th. Wells Fargo & Co reissued a hold rating on shares of Chipotle Mexican Grill in a research note on Friday, October 13th. Bank of America downgraded shares of Chipotle Mexican Grill from a neutral rating to an underperform rating and reduced their price objective for the company from $390.00 to $285.00 in a research note on Wednesday, October 18th. UBS Group set a $345.00 price objective on shares of Chipotle Mexican Grill and gave the company a hold rating in a research note on Thursday, October 26th. Finally, Maxim Group reissued a buy rating and set a $400.00 price objective (down previously from $420.00) on shares of Chipotle Mexican Grill in a research note on Wednesday, October 25th. Nine investment analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Hold and a consensus target price of $352.63.

Shares of Chipotle Mexican Grill (NYSE:CMG) opened at $272.21 on Wednesday. Chipotle Mexican Grill has a fifty-two week low of $263.00 and a fifty-two week high of $499.00. The stock has a market cap of $8,592.12, a PE ratio of 44.19, a price-to-earnings-growth ratio of 1.75 and a beta of 0.59.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Tuesday, February 6th. The restaurant operator reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.02. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.11 billion. Chipotle Mexican Grill had a net margin of 3.94% and a return on equity of 13.32%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.55 earnings per share. analysts predict that Chipotle Mexican Grill will post 9.94 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in CMG. Principal Financial Group Inc. boosted its stake in Chipotle Mexican Grill by 196.5% during the 3rd quarter. Principal Financial Group Inc. now owns 267,881 shares of the restaurant operator’s stock valued at $82,462,000 after acquiring an additional 177,530 shares during the last quarter. Check Capital Management Inc. CA bought a new position in Chipotle Mexican Grill during the 3rd quarter valued at $54,272,000. Janus Henderson Group PLC boosted its stake 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 acquiring an additional 124,330 shares during the last quarter. Hexavest Inc. bought a new position in Chipotle Mexican Grill during the 4th quarter valued at $34,213,000. Finally, Marshfield Associates boosted its stake in Chipotle Mexican Grill by 75.7% during the 3rd quarter. Marshfield Associates now owns 197,591 shares of the restaurant operator’s stock valued at $60,824,000 after acquiring an additional 85,101 shares during the last quarter. Institutional investors and hedge funds own 88.01% of the company’s stock.

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Chipotle Mexican Grill Company Profile

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.

Analyst Recommendations for Chipotle Mexican Grill (NYSE:CMG)

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