Fri, May 1, 9:04 AM
- BMO Capital upgrades Chipotle (NYSE:CMG) to an Outperform rating after having a Neutral stance on the high-flyer.
- The investment firm's updated price target of $760 accounts for a new runway of growth it sees for the restaurant chain and the potential for cash to be returned to shareholders.
- BMO notes a deceleration in Chipotle's comp growth off the high teens marks of 2014 is widely expected and shouldn't create a disruption.
- CMG +0.8% premarket to $626.05.
Wed, Apr. 29, 1:22 PM
- Restaurants stocks are falling harder than broad market averages with disappointing reports from Buffalo Wild Wings and Panera Bread raising some concerns.
- Increasing labor and commodity costs are seen as a threat to margins across the group.
- Today's GDP report may also be a factor in the sector falling out of favor for the day.
- Decliners include Denny's (DENN -7%), Krispy Kreme Dougnuts (KKD -5.6%), Red Robin Gourmet Burgers (RRGB -5.9%), Kona Grill (KONA -6.6%), Texas Roadhouse (TXRH -5.9%), Jack in the Box (JACK -4.6%), Bloomin' Brands (BLMN -4.7%), El Pollo Loco (LOCO -4.6%), and Cracker Barrel (CBRL -4.8%).
- Even momentum-fueled Chipotle (CMG -1.7%) and Habit Restaurants (HABT -1.7%) are peeling off some gains, while Shake Shack (NYSE:SHAK) is proving harder to knock down and is +0.2% on the day.
- Previously: Panera Bread -2% after sluggish earnings print (April 28)
- Previously: Buffalo Wild Wings slumps with chicken wing and labor costs a concern (April 28)
Wed, Apr. 22, 9:15 AM
Wed, Apr. 22, 9:08 AM
- Investment firms are weighing in on Chipotle (NYSE:CMG) following the company's Q1 report and 2015 guidance.
- Raymond James downgrades shares of the restaurant operator to Market Perform from Outperform.
- Credit Suisse takes its price target down to $770 from $785, while keeping the company rated at Outperform.
- Sterne Agee holds tight with a Buy rating and $766 price target.
- Previously: Chipotle -4.7% as comp growth slows (Apr. 21 2015)
- Previously: Chipotle tips new price hikes during earnings call (Apr. 21 2015)
- CMG -5.41% premarket to $655.06.
Tue, Apr. 21, 5:37 PM
Tue, Apr. 21, 4:08 PM
- Chipotle (CMG +0.9%) reports comparable-store sales rose 10.4% in Q1 vs. 11.6% expected and 16.1% in Q4.
- Higher menu prices were a factor during the quarter.
- Restaurant level operating margin +90 bps Q/Q and +160 bps Y/Y to 27.5%.
- Food cost ratio -60 bps to 33.9% as price hikes offset higher beef and tortilla costs.
- Store count +49 Q/Q to 1,831.
- Guidance: Chipotle's comp growth outlook for 2015 is for a low to mid-single digit rate increase. 190 to 205 new store openings expected.
- CMG -4.7% after-hours to $667.21.
Fri, Apr. 10, 10:01 AM
- Chipotle (CMG +4%) breaks higher in early trading on strong volume without any news out from the company.
- The stock has been meandering in a narrow trading range for most of the week.
- Chipotle releases Q1 results on April 21 with analysts expecting revenue of $1.1B and EPS of $3.58. A large focus will be on the expected deceleration of same-store sales growth from their giddy levels of 2014. Traders expect some additional earnings volatility this year on the stock.
Wed, Mar. 11, 9:15 AM
- Credit Suisse launches coverage on Chipotle (NYSE:CMG) with a strong initiation at Outperform.
- The investment firm sets a price target of $785 on the restaurant chain.
- RBC Capital is also in a bullish mode on Chipotle, raising profit estimates and lifting its PT to $740.00
- Citigroup has a Street-high PT of $809 on CMG.
- A few Hold/Neutral ratings are out there on Chipotle, but a Sell rating from a major firm is missing.
- CMG +0.2% premarket to $659.99.
Wed, Feb. 4, 9:27 AM
- Goldman Sachs reiterates a Buy rating on Chipotle (NYSE:CMG).
- The investment firm sees an over-reation to the inevitable slowdown of comps at Chipotle in 2015.
- The fast-casual chain is bumping up against strong comps of 13.4%, 17.3%, 19.8%, and 16.1% over the next four quarters.
- Previously: Chipotle Mexican Grill beats by $0.05, revenue in-line (Feb. 03 2015)
- Previously: Chipotle -6.1% after comp growth slowdown guide (Feb. 03 2015)
- CMG -6.6% premarket.
Wed, Feb. 4, 9:13 AM
Tue, Feb. 3, 5:37 PM
Tue, Feb. 3, 4:12 PM
- Chipotle (NYSE:CMG) reports comparable-store sales rose 16.1% in Q4.
- Analyst estimates for comp sales ranged from 14% to 17%.
- Restaurant level operating margin +100 bps to 26.6% as sales leverage kicked in.
- Food cost ratio +110 bps to 35.0%.
- Store count +60 Q/Q to 1,783.
- Guidance: Chipotle's comp growth projection of a low to mid-single digit rate trails the 8% consensus estimate.
- CMG -6.1% after-hours.
Wed, Jan. 14, 8:40 AM
- Chipotle (NYSE:CMG) has pulled sales of pork items at close to a third of its restaurants after determining a supplier didn't comply with animal-welfare standards.
- The supplier reportedly was raising pigs without any access to the outdoors.
- CMG -0.6% premarket.
Thu, Jan. 8, 11:26 AM
- Citi takes a bullish view on select names in the restaurant sector.
- Wendy's (WEN +1%) is initiated at Buy with a $11 price target. Analyst Gregory Badishkanian sees some of the company's initiatives helping to draw in millennials.
- Coverage on Chipotle (CMG +3.5%) is assumed again at a Buy with a $809 PT. Shares of CMG are at an all-time high after taking out $700 earlier this week.
- The investment firm is also backing Restaurant Brands (QSR +2.7%) and Brinker International (EAT +1.1%) for gains with resumed Buy ratings.
Oct. 21, 2014, 9:44 AM
- Execs with Chipotle (CMG -4.2%) say they see adding 190 to 205 restaurants next year as a "sensible" growth rate, but decline to give store count guidance beyond 2015.
- Comp sales growth of close to 20% was achieved mainly through traffic increases (not pricing). Chipotle's comp gain would have been slightly higher if not for a customer trade down from steak to chicken during the quarter.
- No surprise, but the company warns the sizzling comp growth numbers are likely to fall back as the company laps quarters which included price hikes.
- The company says it plans to open a small number of grocery restaurants in 2015.
- Though checkout speed has been impressive for Chipotle compared to peers, management still sees room for improvement. The average restaurant turns over just a third of the high end mark of 350 transactions per hour.
- There's no plans to roll out Apple Pay capabilities at stores.
- Earnings call transcript
Oct. 20, 2014, 4:08 PM
- Chipotle (NYSE:CMG) reports comparable-restaurant sales rose 19.8% in Q3.
- Restaurant-level operating margin +200 bps to 28.8% as sales leverage overrode higher beef and avocados pricing.
- The company notes the quarter included a full month of higher menu prices.
- Food costs ratio +70 bps to 34.3%.
- Store count +43 to 1,724.
- 2014 guidance: The outlook is for a mid-teens comparable-restaurant sales growth mark. 180 to 195 new restaurant openings anticipated.
- 2015 guidance: The company expects a low to mid-single digit comp as it starts lapping the quarters with price hikes. 190 to 205 new restaurants are forecast to be opened.
- CMG -2.2% AH.
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