Truist Financial Forecasts Strong Price Appreciation for Chipotle Mexican Grill (NYSE:CMG) Stock

Chipotle Mexican Grill (NYSE:CMG) had its price objective hoisted by research analysts at Truist Financial from $72.00 to $74.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the restaurant operator’s stock. Truist Financial’s price target indicates a potential upside of 13.46% from the company’s current price.

Several other research analysts have also recently issued reports on CMG. Wedbush reissued an “outperform” rating and issued a $69.00 price target on shares of Chipotle Mexican Grill in a research note on Wednesday, October 30th. Evercore ISI raised their target price on shares of Chipotle Mexican Grill from $59.00 to $70.00 and gave the company an “outperform” rating in a research note on Tuesday, October 15th. Wells Fargo & Company upped their price target on shares of Chipotle Mexican Grill from $66.00 to $67.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Citigroup decreased their price objective on shares of Chipotle Mexican Grill from $71.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Finally, Barclays upped their target price on Chipotle Mexican Grill from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, Chipotle Mexican Grill presently has an average rating of “Moderate Buy” and an average target price of $65.42.

Chipotle Mexican Grill Stock Performance

Shares of CMG opened at $65.22 on Wednesday. Chipotle Mexican Grill has a 1 year low of $44.08 and a 1 year high of $69.26. The firm has a fifty day moving average of $59.25 and a 200-day moving average of $80.84. The company has a market cap of $88.87 billion, a price-to-earnings ratio of 60.95, a price-to-earnings-growth ratio of 2.45 and a beta of 1.27.

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

Insiders Place Their Bets

In other news, insider Curtis E. Garner sold 15,750 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $55.02, for a total value of $866,565.00. Following the completion of the sale, the insider now owns 473,514 shares of the company’s stock, valued at $26,052,740.28. This trade represents a 3.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Robin S. Hickenlooper sold 1,790 shares of the company’s stock in a transaction 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 directly owns 41,510 shares in the company, valued at $2,340,333.80. The trade was a 4.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,290 shares of company stock worth $1,866,023. Corporate insiders own 1.02% of the company’s stock.

Institutional Trading of Chipotle Mexican Grill

Several institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. lifted its position in Chipotle Mexican Grill by 4,732.3% in the 2nd quarter. American Century Companies Inc. now owns 20,177,309 shares of the restaurant operator’s stock worth $1,264,109,000 after buying an additional 19,759,754 shares in the last quarter. Legal & General Group Plc boosted its position in Chipotle Mexican Grill by 5,209.5% during the second quarter. Legal & General Group Plc now owns 10,935,669 shares of the restaurant operator’s stock valued at $685,128,000 after purchasing an additional 10,729,706 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Chipotle Mexican Grill by 5,930.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 10,310,132 shares of the restaurant operator’s stock valued at $645,930,000 after purchasing an additional 10,139,174 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Chipotle Mexican Grill by 4,816.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 8,356,173 shares of the restaurant operator’s stock worth $523,514,000 after purchasing an additional 8,186,198 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of Chipotle Mexican Grill by 76,617.6% during the 2nd quarter. Marshall Wace LLP now owns 5,904,952 shares of the restaurant operator’s stock valued at $369,945,000 after buying an additional 5,897,255 shares during the last quarter. 91.31% of the stock is currently owned by institutional investors and hedge funds.

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.