Jim Cramer on Chipotle Mexican Grill: “I Think the Stock Is Marking Time”

Chipotle Mexican Grill, Inc. (NYSE:CMG) is one of Jim Cramer’s latest stock calls as oil drops and the U.S. market rises. A caller asked what Cramer thinks of the stock long-term, given the company’s expansion plans, and mentioned that they are in the “house of pain.” He replied:

The house of pain is a terrible place to be. Though I had the Chicken al Pastor, man, that was dynamite, but that’s not going to be dispositive to the stock. I think the stock is marking time, but that the numbers are going to turn here. Scott Boatwright is doing everything right. It’s been at $34, $35 since it’s reported. I’m feeling okay about it, but I don’t like the restaurant group that much because it translates as being, if gasoline is up, restaurants are down. That’s the way it is.

Stock market reports printed on a sheet of paper. Photo by RDNE Stock Project on Pexels

Chipotle Mexican Grill, Inc. (NYSE:CMG) owns and operates restaurants that provide burritos, bowls, tacos, salads, and other menu items. When a caller asked about the stock during the March 6 episode, Cramer responded:

Well, you know, I’ve got to tell you… The group has gotten very out of favor all of a sudden, it always gets out of favor when the price of the pump goes really high, and that’s what this is, that’s what this is associated with. The actual Chipotle Mexican Grill is doing better, and at 30 times earnings, with Scott Boatwright really starting to, I think having a positive impact, I want to buy some here, not sell some. I think it’s the right place to be.

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