William Blair analyst Sharon Zackfia has maintained their bullish stance on CMG stock, giving a Buy rating on April 7.
Sharon Zackfia’s rating is based on a combination of factors that influence Chipotle’s performance. Despite expecting a slight decline in traffic due to adverse weather conditions and calendar anomalies in the first quarter, Zackfia anticipates a recovery in the subsequent quarter. The expectation of a 3% comparable sales increase in the second quarter, which is above the consensus, suggests a positive outlook for Chipotle’s growth.
Zackfia also considers the underlying traffic trends, which, when adjusted for external factors, align closely with management’s estimates. This alignment indicates a stable demand for Chipotle’s offerings. The anticipated recovery and alignment with management’s expectations contribute to the Buy rating, reflecting confidence in Chipotle’s ability to navigate short-term challenges and achieve long-term growth.
In another report released on April 7, Robert W. Baird also maintained a Buy rating on the stock with a $62.00 price target.
Based on the recent corporate insider activity of 75 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CMG in relation to earlier this year.