Is It Too Late to Buy Chipotle Stock?
Chipotle Mexican Grill (NYSE: CMG) got tons of attention recently for its 50-for-1 stock split, one of the biggest-ever stock splits. That happened in June, and the hype has since died down. Did you miss the best chance to buy Chipotle stock?
Even if the hype of the stock split has died down, Chipotle's momentum hasn't. The company reported stellar second-quarter results, with revenue up 18.2% year over year, driven by an 11.1% increase in comparable sales. Operating margin increased from 17.9% to 19.3%, and earnings per share (EPS) were up from $0.25 last year to $0.33 this year, split-adjusted. In other words, it was a typical fantastic quarter.
Chipotle has carved out a niche in restaurant chains with healthy, fresh food at moderate prices. Although there are many new start-ups with this model, Chipotle was the first and has perfected the model over the years. It has more than 3,500 stores and built up a fan base of loyal customers. Since it targets an affluent clientele and is cheaper than luxury dining, it's been resilient in the face of inflation.
Source Fool.com
Chipotle Mexican Grill Inc. Stock
With 70 Buy predictions and 1 Sell predictions Chipotle Mexican Grill Inc. is one of the favorites of our community.
Based on the current price of 49.56 € the target price of 2478 € shows a potential of 4900.5% for Chipotle Mexican Grill Inc. which would more than double the current price.
