Chipotle is on the rise

Article Excerpt

CHIPOTLE MEXICAN GRILL $444.67 (New York symbol CMG; TSINetwork Rating: Extra Risk) (303-595-4000; www.chipotle.com; Shares o/s: 27.8 million; Market cap: $12.4 billion; No dividends paid) is now up 80% from its February 2018 low of $247.52. The gains came from improved financial results, but also from optimism about the company’s new CEO In the quarter ended March 31, 2018, sales rose 7.4%, to $1.15 billion from $1.07 billion a year earlier. Earnings per share jumped 33.1%, to $2.13 from $1.60. The company’s new CEO, Brian Niccol, previously served as CEO of Taco Bell. He’s now using the improved digital marketing and menu innovation he brought to his work at Taco Bell. But while Chipotle is beginning to win back its customers and restore its sales, its turnaround remains ongoing. Chipotle is still a hold. hold…