Chipotle earnings delivered, but its stock is starting to look like a high-priced menu item

Chipotle Mexican Grill is again trading at a stock market valuation that the fast-casual restaurant chain achieved pre-2016.

For Stephen Anderson, senior v.p. and equity research Analyst at Maxim Group, focusing on the restaurant and consumer sectors, there is good news in the company's operating performance, but caution related to the stock's gains. Digital sales growth almost doubled, growing 99.1% and making up 18.2% of sales. That compares to 13% of sales at the end of 2018. This was also the first-full quarter for a look at how Chipotle's loyalty program, which launched in March, would help propel a broader digital strategy.

Chipotle once again raised its full-year outlook for same-store sales growth. It expects sales at restaurants open at least a year to rise at a high-single digit rate, up from a prior estimate of mid-to-high single-digit growth.

Something tells me cnbc was short on $CMG .... oh well time. Can't win it all

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