Chipotle Mexican Grill’s Buy Rating Reaffirmed at Miller Tabak (CMG)

Chipotle Mexican Grill (NYSE: CMG)‘s stock had its “buy” rating restated by investment analysts at Miller Tabak in a note issued to investors on Thursday, AnalystRatingsNetwork reports. They currently have a $400.00 price target on the stock, up from their previous price target of $395.00. Miller Tabak’s price objective would indicate a potential upside of 8.79% from the stock’s previous close.

The analysts wrote, “Qdoba, the second largest fast casual Mexican chain in the U.S., would close more than 10% of its restaurants… We long have argued CMG has had stronger brand differentiation and operations execution relative to Qdoba, and anticipate CMG will gain market share at the expense of Qdoba as the latter chain retreats.”

Chipotle Mexican Grill (NYSE: CMG) traded up 1.06% on Thursday, hitting $371.5601. Chipotle Mexican Grill has a 52-week low of $233.82 and a 52-week high of $419.69. The stock’s 50-day moving average is currently $367.2. The company has a market cap of $11.485 billion and a price-to-earnings ratio of 39.84.

Chipotle Mexican Grill (NYSE: CMG) last issued its quarterly earnings data on Thursday, April 18th. The company reported $2.45 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.14 by $0.31. The company had revenue of $726.80 million for the quarter, compared to the consensus estimate of $724.77 million. During the same quarter last year, the company posted $1.97 earnings per share. Chipotle Mexican Grill’s revenue was up 13.5% compared to the same quarter last year. On average, analysts predict that Chipotle Mexican Grill will post $10.63 earnings per share for the current fiscal year.

A number of other analysts have also recently weighed in on CMG. Analysts at Wedbush raised their price target on shares of Chipotle Mexican Grill from $400.00 to $420.00 in a research note to investors on Thursday, June 13th. They now have a “hold” rating on the stock. Separately, analysts at Credit Suisse initiated coverage on shares of Chipotle Mexican Grill in a research note to investors on Thursday, May 23rd. They set a “neutral” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Chipotle Mexican Grill in a research note to investors on Monday, April 22nd. They now have a $385.00 price target on the stock.

One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $370.88.

Chipotle Mexican Grill, Inc. and its subsidiaries (NYSE: CMG) operate restaurants throughout the United States, as well as two restaurants in Toronto, Canada and two in London, England.