Chipotle Mexican Grill (NYSE:CMG) Price Target Raised to $75.00

Chipotle Mexican Grill (NYSE:CMG) had its target price lifted by Royal Bank of Canada from $70.00 to $75.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the restaurant operator’s stock.

A number of other brokerages also recently issued reports on CMG. TD Cowen raised their target price on shares of Chipotle Mexican Grill from $65.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Stephens reissued an “equal weight” rating and issued a $65.00 price objective on shares of Chipotle Mexican Grill in a research note on Tuesday, November 12th. BMO Capital Markets boosted their price objective on shares of Chipotle Mexican Grill from $55.00 to $56.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Evercore ISI raised their target price on Chipotle Mexican Grill from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, December 5th. Finally, Jefferies Financial Group boosted their price target on Chipotle Mexican Grill from $56.00 to $62.00 and gave the stock a “hold” rating in a report on Monday. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, Chipotle Mexican Grill has a consensus rating of “Moderate Buy” and an average price target of $66.55.

Chipotle Mexican Grill Trading Up 0.7 %

Shares of CMG stock opened at $61.74 on Tuesday. The stock has a market cap of $84.13 billion, a P/E ratio of 57.46, a price-to-earnings-growth ratio of 2.64 and a beta of 1.27. Chipotle Mexican Grill has a 1 year low of $44.08 and a 1 year high of $69.26. The stock has a 50 day simple moving average of $60.62 and a 200 day simple moving average of $80.95.

Chipotle Mexican Grill (NYSE:CMG) last released its earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. Chipotle Mexican Grill had a return on equity of 43.20% and a net margin of 13.51%. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same period in the prior year, the company posted $0.23 EPS. The company’s revenue was up 13.0% compared to the same quarter last year. Analysts forecast that Chipotle Mexican Grill will post 1.11 EPS for the current year.

Insider Activity

In related news, insider Curtis E. Garner sold 15,750 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $57.05, for a total value of $898,537.50. Following the sale, the insider now directly owns 457,764 shares in the company, valued at $26,115,436.20. This represents a 3.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Laurie Schalow sold 4,404 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $65.01, for a total transaction of $286,304.04. Following the transaction, the insider now owns 185,792 shares of the company’s stock, valued at approximately $12,078,337.92. The trade was a 2.32 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.

Institutional Trading of Chipotle Mexican Grill

A number of institutional investors have recently bought and sold shares of CMG. NINE MASTS CAPITAL Ltd acquired a new stake in Chipotle Mexican Grill during the second quarter worth approximately $470,000. Blue Trust Inc. grew its position in shares of Chipotle Mexican Grill by 137.3% during the 2nd quarter. Blue Trust Inc. now owns 674 shares of the restaurant operator’s stock worth $42,000 after buying an additional 390 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in shares of Chipotle Mexican Grill by 6,049.4% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 320,997 shares of the restaurant operator’s stock valued at $20,110,000 after acquiring an additional 315,777 shares in the last quarter. Dakota Wealth Management lifted its position in shares of Chipotle Mexican Grill by 4,378.6% during the 2nd quarter. Dakota Wealth Management now owns 16,750 shares of the restaurant operator’s stock valued at $1,049,000 after acquiring an additional 16,376 shares during the period. Finally, Summit Global Investments bought a new position in Chipotle Mexican Grill during the second quarter worth $310,000. Institutional investors own 91.31% of the company’s stock.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. It sells food and beverages through offering burritos, burrito bowls, quesadillas, tacos, and salads. The company also provides delivery and related services its app and website. It has operations in the United States, Canada, France, Germany, and the United Kingdom.