Chipotle Receives a Hold from Maxim Group

By Ryan Adsit

Maxim Group analyst Stephen Anderson maintained a Hold rating on Chipotle (NYSE: CMG) today and set a price target of $440. The company’s shares closed yesterday at $458.91.

Anderson commented:

“We maintain our Hold rating and $440 price target on Chipotle Mexican Grill (CMG) ahead of company presentations at investor conferences scheduled for this week. We reduce our 2Q17 (June) EPS estimate to $2.62 (from $2.87) following management comments alluding to higher costs incurred during the quarter. We model another double-digit comp quarter for 2Q17, though believe the Easter shift and the data breach hurt traffic somewhat.”

According to TipRanks.com, Anderson is a 5-star analyst with an average return of 9.0% and a 67.9% success rate. Anderson covers the Services sector, focusing on stocks such as Dave & Busters Entertainment, Popeyes Louisiana Kitchen, and Brinker International.

Currently, the analyst consensus on Chipotle is Hold and the average price target is $474.53, representing a 3.4% upside.

In a report issued on June 5, Wedbush also reiterated a Hold rating on the stock with a $450 price target.

Based on Chipotle’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $1.07 billion and quarterly net profit of $46.12 million. In comparison, last year the company earned revenue of $834 million and had a GAAP net loss of $26.43 million.

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Chipotle Mexican Grill, Inc. engages in the development and operation of fast-casual, fresh Mexican food restaurants throughout the U.S. It offers focused menu of burritos, tacos, burrito bowls, and salads, prepared using classic cooking methods. The company was founded by Steve Ells in 1993 and is headquartered in Denver, CO.