collected by :John Locas
Currently, Chipotle Mexican Grill, Inc., CMG has a target price of 399.63, so today’s gain of -1.06% is a significant step towards its target price.
Today’s top gainers include the company Chipotle Mexican Grill, Inc. (NYSE:CMG) which is in the industry Restaurants, gaining -1.06% today.
Chipotle Mexican Grill, Inc. (NYSE:CMG), has a market cap of 11852.27, and is based in USA.
The 52-week low for Chipotle Mexican Grill, Inc., CMG has been 16.64%, while the 52-week-high has reached -24.11%.
Chipotle Mexican Grill, Inc. (NYSE:CMG) has a P/E of 510.77, as well as a forward P/E of 34.92.
Chipotle: Another Ackman Failure? – Chipotle Mexican Grill, Inc. (NYSE:CMG)
With disappointing growth, shares won’t trade at outsized multiples forever.
That means Ackman will have to rely on steering CMG toward growth with a new strategy, or even bringing in a turnaround CEO.
If Ackman steps up and installs a CEO with turnaround experience, then CMG could get interesting.
CMG has built itself on being better for you, but most big name chain restaurants are becoming more socially conscious.
The catalyst for that may well be a reset in growth expectations and store openings, which will likely happen this year.
Chipotle Mexican Grill, Inc. (NYSE:CMG) Closing All Thai Restaurants
Chipotle Mexican Grill, Inc. (NYSE:CMG) is closing all 15 locations of its ShopHouse Asian Kitchen chain, Nation’s Restaurant News reported.
Chipotle Looking to Open 195-210 New Restaurants in 2017Last month, Chipotle Mexican Grill, Inc. (NYSE:CMG) reported financial results for its fourth quarter and year ended December 31, 2016.
During the full year 2016, Chipotle opened 240 new restaurants, bringing the total restaurant number to 2250.
The decrease in revenue was driven by a 20.4% decrease in comparable restaurant sales, partially offset by revenue from new restaurants, the company said.
“We now have a deal in place to sell the ShopHouse leases and believe that is the right decision at this time,” Arnold told Nation’s Restaurant News in an emailed statement.