Maxim Group Upgrades Chipotle Mexican Grill to Hold with Price Target $390

Brokerage firm Maxim Group Upgrades its rating on Chipotle Mexican Grill(CMG). As per the latest information, Maxim Group Raises the price target to $390 per share from a prior target of $280. The shares have been rated Hold. Previously, the analysts had a Sell rating on the shares. The rating by Maxim Group was issued on Feb 3, 2017.

In a different note, On Jan 17, 2017, JP Morgan said it Downgrades its rating on Chipotle Mexican Grill. In the research note, the firm Announces the price-target to $375 per share. The shares have been rated ‘Neutral’ by the firm.

Chipotle Mexican Grill (CMG) made into the market gainers list on Tuesdays trading session with the shares advancing 0.77% or 3.05 points. Due to strong positive momentum, the stock ended at $398.64, which is also near the day’s high of $401.5. The stock began the session at $396.25 and the volume stood at 12,70,291 shares. The 52-week high of the shares is $542.5 and the 52 week low is $352.96. The company has a current market capitalization of $11,486 M and it has 2,88,14,000 shares in outstanding.

Chipotle Mexican Grill(CMG) last announced its earnings results on Feb 2, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $1.035B. Analysts had an estimated revenue of $1.040B. Earnings per share were $0.55. Analysts had estimated an EPS of $0.67.

Several Insider Transactions has been reported to the SEC. On Jun 2, 2016, Steve Ells (Chairman & Co-CEO) sold 21,000 shares at $440.65 per share price.Also, On Aug 7, 2015, John S Charlesworth (director) sold 2,000 shares at $750.12 per share price.On Aug 5, 2015, Jack Hartung (Chief Financial Officer) sold 2,522 shares at $750.01 per share price, according to the Form-4 filing with the securities and exchange commission.

Chipotle Mexican Grill Inc. (Chipotle) develops and operates Chipotle Mexican Grill restaurants which serve a focused menu of burritos tacos burrito bowls (a burrito without the tortilla) and salads. The Company operates 1755 restaurants in the United States seven in Canada six in England three in France and one in Germany. The Company’s restaurants also include nine ShopHouse Southeast Asian Kitchen restaurants. The Company owns and operates two Pizzeria Locale restaurants a fast casual pizza concept. It also provides a variety of extras such as guacamole salsas and tortilla chips seasoned with fresh lime juice and kosher salt. Its restaurants also offer sodas fruit drinks organic milk beer and margaritas. The average restaurant size is about 2550 square feet and seats about 58 people. The Company’s restaurants also feature outdoor patio space. The Company’s restaurants accept orders by fax online or through an iPhone or Android ordering application.

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