Stock to Watch: Chipotle Mexican Grill, Inc. (NYSE:CMG)

[Zacks] Chipotle Mexican Grill, Inc. (NYSE:CMG) is one super-star stock with both price momentum and the earnings momentum to justify it. Since the company reported a big 15% EPS beat for Q2 in July, the stock has been a Zacks #1 Rank Strong Buy or #2 Rank Buy.The $3.50 per share reported earnings were 24% higher year-over-year on the back of solid top-line growth. Revenues also beat the consensus mark and increased 29% year over year, thanks to higher "comps" (same store sales) and unit expansion. Despite the recent menu price hike, comps grew year over year as well as sequentially driven by higher traffic.Stock PerformanceTaking a look at the company’s recent performance, Chipotle Mexican Grill (CMG) reported Second quarter earnings for fiscal 2014 on July 21^ist. The company reported actual earnings per share of $3.5 against the consensus Street estimate of $3.07. This represents year over year growth of 19.43%. Chipotle Mexican Grill posted revenue of $1.05 billion against estimates of $998.13 million.CMG is currently valued at $20.902 billion and closed the last trading session at $651.17. The stock has a 50-day moving average of $670.37 and a 200-day moving average of $599.16.

Is this a Buying Opportunity?There are currently twenty five analysts that we track that cover the stock. Of those twenty five, eighteen have a Buy rating and seven have a hold rating. On a consensus basis this yields a score of 2.72 and a Buy. The combined price objective of these covering analysts is $688.77, which represents a 2.11% upside difference to the last closing price.The most recent analyst activity consisted of Oppenheimer boosting their outperform stance on the company. Oppenheimer has a price target of $700 to $775 which represents an upside of 15.44% from the last closing price. On the date of the report, the stock closed at $671.36.Another research firm weighing in recently was Zacks who upgraded their neutral rating on the stock. On August 29^th Zacks boosted their price target on the stock to $813, a 19.80% upside to the current price. On the day of the report, CMG shares closed at $678.65.Company ProfileChipotle Mexican Grill, Inc., (CMG) together with its subsidiaries, develops and operates fast-casual and fresh Mexican food restaurants. As of July 21, 2014, it operated approximately 1,600 restaurants; and 7 ShopHouse Southeast Asian Kitchen restaurants. The company was founded in 1993 and is based in Denver, Colorado.