Chipotle Mexican Grill (NYSE:CMG) Given New $70.00 Price Target at Evercore ISI

Chipotle Mexican Grill (NYSE:CMG) had its price objective raised by Evercore ISI from $59.00 to $70.00 in a research report report published on Tuesday, Benzinga reports. The firm currently has an outperform rating on the restaurant operator’s stock.

Several other equities research analysts also recently commented on CMG. StockNews.com downgraded Chipotle Mexican Grill from a buy rating to a hold rating in a report on Thursday, July 4th. Guggenheim lifted their price objective on shares of Chipotle Mexican Grill from $54.50 to $55.00 and gave the company a neutral rating in a research report on Wednesday, July 24th. Loop Capital dropped their target price on shares of Chipotle Mexican Grill from $58.00 to $53.00 and set a hold rating on the stock in a report on Thursday, July 25th. KeyCorp lowered their price target on Chipotle Mexican Grill from $68.00 to $66.00 and set an overweight rating on the stock in a research report on Thursday, July 25th. Finally, Wedbush reaffirmed an outperform rating and issued a $58.00 price objective on shares of Chipotle Mexican Grill in a research report on Thursday, August 29th. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Chipotle Mexican Grill currently has an average rating of Moderate Buy and an average price target of $63.03.

Chipotle Mexican Grill Price Performance

Shares of NYSE:CMG opened at $59.81 on Tuesday. The company’s 50-day moving average price is $55.85 and its two-hundred day moving average price is $81.42. Chipotle Mexican Grill has a one year low of $35.58 and a one year high of $69.26. The stock has a market capitalization of $82.14 billion, a PE ratio of 63.63, a price-to-earnings-growth ratio of 2.41 and a beta of 1.25.

Chipotle Mexican Grill (NYSE:CMG) last released its earnings results on Wednesday, July 24th. The restaurant operator reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. Chipotle Mexican Grill had a return on equity of 44.01% and a net margin of 13.23%. The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter in the previous year, the business earned $12.65 earnings per share. Chipotle Mexican Grill’s quarterly revenue was up 18.2% on a year-over-year basis. On average, analysts anticipate that Chipotle Mexican Grill will post 1.08 earnings per share for the current fiscal year.

Insider Transactions at Chipotle Mexican Grill

In related news, insider Curtis E. Garner sold 15,750 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $57.05, for a total value of $898,537.50. Following the completion of the transaction, the insider now owns 457,764 shares of the company’s stock, valued at $26,115,436.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Curtis E. Garner sold 17,394 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $54.68, for a total transaction of $951,103.92. Following the completion of the sale, the insider now owns 358,300 shares of the company’s stock, valued at approximately $19,591,844. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Curtis E. Garner sold 15,750 shares of Chipotle Mexican Grill stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $57.05, for a total transaction of $898,537.50. Following the completion of the transaction, the insider now directly owns 457,764 shares in the company, valued at $26,115,436.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,684 shares of company stock valued at $2,817,127. 1.02% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Chipotle Mexican Grill

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hazlett Burt & Watson Inc. raised its holdings in shares of Chipotle Mexican Grill by 19.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 25 shares of the restaurant operator’s stock worth $73,000 after buying an additional 4 shares in the last quarter. Diversified Trust Co grew its position in Chipotle Mexican Grill by 0.9% in the first quarter. Diversified Trust Co now owns 474 shares of the restaurant operator’s stock valued at $1,378,000 after acquiring an additional 4 shares during the last quarter. Valley National Advisers Inc. raised its stake in Chipotle Mexican Grill by 9.8% during 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. lifted its holdings 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 during the last quarter. Finally, Quent Capital LLC boosted its stake in shares of Chipotle Mexican Grill by 2.0% in the 1st quarter. Quent Capital LLC now owns 206 shares of the restaurant operator’s stock valued at $599,000 after purchasing an additional 4 shares in the last quarter. 91.31% of the stock is currently owned by 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.