Casual restaurant chain Chipotle Mexican Grill, Inc. (NYSE: CMG) reported Tuesday with fourth-quarter results that prompted a 3% selloff in shares by Wednesday morning.
Here's how the Street reacted to the print.
The Chipotle Mexican Grill Analysts
Raymond James analyst Brian Vaccaro maintains a Market Perform rating on Chipotle's stock with no price target.
KeyBanc Capital Markets analyst Eric Gonzalez maintains an Overweight rating on Chipotle's stock with an unchanged $1,625 price target.
Morgan Stanley analyst John Glass maintains an Equal-weight rating on Chipotle's stock with a price target lifted from $1,352 to $1,465.
Wedbush analyst Nick Setyan maintains an Outperform rating on Chipotle's stock with a price target lifted from $1,600 to $1,800.
Cowen analyst Andrew Charles maintains an Outperform rating on Chipotle's stock with a price target lifted from $1,640 to $1,900.
Stephens analyst James Rutherford maintains an Equal-Weight rating on Chipotle's stock with a price target lifted from $1,265 to $1,450.
Raymond James: Strong Chipotle Sales Offset By Margins
Chipotle reported an 11.6% year-over-year increase in revenue to $1.61 billion as comps rose 5.7% versus estimates of $1.57 billion and 4%, respectively, Vaccaro said in a note.
Digital sales as a percentage of total sales were steady from the prior quarter at around 49%, half of which was delivery, the analyst said.
The company's strong sales results were offset by store margins coming in at 19.5% versus management's targeted algorithm of 22%, he said.
Margins were impacted by higher delivery fees and COVID-19-related costs, Vaccaro said.
Earnings per share of $3.48 beat the research firm's estimate of $3.39 but were ...
