Wells Fargo Believes Chipotle (CMG) Won’t Stop Here

Wells Fargo analyst Jon Tower maintained a Buy rating on Chipotle (CMG) yesterday. The company’s shares closed last Friday at $1118.04, close to its 52-week high of $1145.63.

According to TipRanks.com, Tower is a 4-star analyst with an average return of 16.6% and a 69.2% success rate. Tower covers the Services sector, focusing on stocks such as Restaurant Brands International, Cheesecake Factory, and Red Robin Gourmet.

Chipotle has an analyst consensus of Moderate Buy, with a price target consensus of $1018.87, representing a -8.3% downside. In a report issued on June 29, BTIG also maintained a Buy rating on the stock with a $1200.00 price target.

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Based on Chipotle’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.41 billion and net profit of $76.39 million. In comparison, last year the company earned revenue of $1.31 billion and had a net profit of $88.13 million.

Based on the recent corporate insider activity of 87 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CMG in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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 Newport Beach, CA.

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