Jim Cramer on Chipotle Mexican Grill: "I Want to Buy Some Here, Not Sell Some"

Chipotle Mexican Grill, Inc. (NYSE:CMG) is one of the stocks on which Jim Cramer gave his opinions. A caller asked what Cramer thinks will happen next with regard to the company, and he said:

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.

Photo by Adam Nowakowski on Unsplash

Chipotle Mexican Grill, Inc. (NYSE:CMG) owns and operates restaurants that provide burritos, bowls, tacos, salads, and other menu items. A caller inquired about the stock during the February 26 episode, and Cramer replied:

Well, look, let’s look at the thing objectively. It reported the last quarter, and it was right here. And I said this stock’s done going down, and I am sticking with that judgment. I think Scott Boatwright is turning the ship, and this is the level that you gotta pull the trigger and buy some Chipotle.