Is Now the Perfect Time to Buy Chipotle Stock on the Dip?
Chipotle Mexican Grill (NYSE: CMG) reported its second-quarter results late Wednesday afternoon, and in after-hours trading, its stock surged. But on the earnings call, the company warned of near-term margin pressures, and on Thursday, the market erased the stock's initial gains and it kept falling. Chipotle is now down by more than 25% from its recent high, though it's up about 11% on the year.
Has that recent sell-off created a good buying opportunity?
In the second quarter, Chipotle's revenue climbed by 18.2% to $2.97 billion, topping analysts' consensus estimate of $2.94 billion. Comparable restaurant sales jumped by 11.1%. Transactions grew by 8.7%, while the average check was up about 2.4%, largely due to increased prices, as mix, which is the difference in menu items sold compared to a year ago, was down about 1%.
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 47.63 € the target price of 2478 € shows a potential of 5102.6% for Chipotle Mexican Grill Inc. which would more than double the current price.
