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Chipotle to hire 4000 new employees in a single day next month
According to its website, Chipotle promoted more than 4,000 of its crew members into manager roles past year .
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Earlier this year, Chipotle announced it plans to open 190-205 new restaurants before the end of the year. The company’s strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth, compelling growth in net income, notable return on equity and solid stock price performance.
As Chipotle faces employee lawsuits, a common occurrence in the restaurant industry, other chains are making changes to boost their reputations.
The company recently increased the amount of sick and vacation days the staff is able to take off, along with expanding its scheme for reimbursing tuition fees for college students. Other chains hiking wages and beefing up benefits include the Cheesecake Factory and Starbucks, while fast-casual chains like Shake Shack emphasize the importance of well-paid, dedicated employees. “With that and with the normal pace of turnover, there’s always work to be done and there are always opportunities for people”. The firm has a 50 day moving average price of $708.48 and a 200 day moving average price of $661.90.
Chipotle Mexican Grill (NYSE:CMG) was upgraded by Vetr from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday, Marketbeat reports. Separately, on July 23, Argus’ John Staszak reiterated a Buy rating on the stock and has a price target of $810.
Brokerage firms covering Chipotle Mexican Grill, Inc. are projecting that the stock will reach $739.736 over the next 52-weeks. Chipotle Mexican Grill has a 12 month low of $597.33 and a 12 month high of $758.61. Chipotle Mexican Grill now has an average rating of Buy and a consensus price target of $741.71.
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According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Nick Setyan and John Staszak have a total average return of 13.9% and 14.8% respectively. Even assuming no further Colorado penetration, we estimate CMG’s unit opportunity at 4.4K at CO’s penetration rate in the U.S., and another 1K from Canada and the UK.