Chipotle Mexican Grill (NYSE:CMG) Price Target Raised to $68.00

Chipotle Mexican Grill (NYSE:CMG) had its price target boosted by TD Cowen from $65.00 to $68.00 in a research note released on Wednesday morning, Benzinga reports. TD Cowen currently has a buy rating on the restaurant operator’s stock.

Several other analysts also recently weighed in on the stock. Raymond James cut their price objective on shares of Chipotle Mexican Grill from $70.00 to $62.50 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Wedbush reiterated an “outperform” rating and issued a $58.00 price objective on shares of Chipotle Mexican Grill in a research report on Thursday, August 29th. The Goldman Sachs Group cut their price objective on shares of Chipotle Mexican Grill from $74.60 to $67.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Wells Fargo & Company lifted their price objective on shares of Chipotle Mexican Grill from $66.00 to $67.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, StockNews.com downgraded shares of Chipotle Mexican Grill from a “buy” rating to a “hold” rating in a research report on Thursday, July 4th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $64.47.

Chipotle Mexican Grill Stock Performance

Chipotle Mexican Grill stock opened at $58.59 on Wednesday. The firm’s 50-day moving average is $57.28 and its 200-day moving average is $81.30. Chipotle Mexican Grill has a 1 year low of $39.92 and a 1 year high of $69.26. The company has a market cap of $80.24 billion, a P/E ratio of 54.76, a PEG ratio of 2.41 and a beta of 1.26.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. Chipotle Mexican Grill had a net margin of 13.51% and a return on equity of 43.20%. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same period last year, the firm posted $0.23 EPS. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. As a group, sell-side analysts predict that Chipotle Mexican Grill will post 1.1 earnings per share for the current year.

Insider Transactions at Chipotle Mexican Grill

In other news, Director Robin S. Hickenlooper sold 1,790 shares of Chipotle Mexican Grill stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $56.38, for a total value of $100,920.20. Following the transaction, the director now owns 41,510 shares of the company’s stock, valued at $2,340,333.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Curtis E. Garner sold 15,750 shares of Chipotle Mexican Grill stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $55.02, for a total value of $866,565.00. Following the transaction, the insider now directly owns 473,514 shares of the company’s stock, valued at $26,052,740.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robin S. Hickenlooper sold 1,790 shares of Chipotle Mexican Grill stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $56.38, for a total transaction of $100,920.20. Following the completion of the transaction, the director now directly owns 41,510 shares in the company, valued at approximately $2,340,333.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,684 shares of company stock valued at $2,817,127 in the last quarter. Insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Valley National Advisers Inc. increased its position in shares of Chipotle Mexican Grill by 9.8% in the first quarter. Valley National Advisers Inc. now owns 45 shares of the restaurant operator’s stock worth $131,000 after acquiring an additional 4 shares in the last quarter. Scott & Selber Inc. increased its position in shares of Chipotle Mexican Grill by 0.6% in the first quarter. Scott & Selber Inc. now owns 720 shares of the restaurant operator’s stock worth $2,093,000 after acquiring an additional 4 shares in the last quarter. Quent Capital LLC boosted its holdings in shares of Chipotle Mexican Grill by 2.0% during the first quarter. Quent Capital LLC now owns 206 shares of the restaurant operator’s stock worth $599,000 after purchasing an additional 4 shares during the period. First National Bank of Hutchinson boosted its holdings in shares of Chipotle Mexican Grill by 1.1% during the first quarter. First National Bank of Hutchinson now owns 378 shares of the restaurant operator’s stock worth $1,099,000 after purchasing an additional 4 shares during the period. Finally, Pacific Center for Financial Services boosted its holdings in shares of Chipotle Mexican Grill by 8.0% during the first quarter. Pacific Center for Financial Services now owns 54 shares of the restaurant operator’s stock worth $157,000 after purchasing an additional 4 shares during the period. 91.31% of the stock is owned by hedge funds and other institutional investors.

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.