Chipotle Mexican Grill (NYSE:CMG) Price Target Raised to $72.00

Chipotle Mexican Grill (NYSE:CMG) had its price target upped by Raymond James from $66.00 to $72.00 in a research note published on Monday morning,Benzinga reports. They currently have an outperform rating on the restaurant operator’s stock.

CMG has been the topic of several other research reports. Wells Fargo & Company upped their price objective on Chipotle Mexican Grill from $67.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Evercore ISI raised their price target on Chipotle Mexican Grill from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, December 5th. Royal Bank of Canada started coverage on Chipotle Mexican Grill in a research report on Friday, November 15th. They issued an “outperform” rating and a $70.00 price objective for the company. Citigroup reduced their target price on shares of Chipotle Mexican Grill from $71.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Finally, Piper Sandler boosted their price target on shares of Chipotle Mexican Grill from $59.00 to $60.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, Chipotle Mexican Grill currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.55.

Chipotle Mexican Grill Stock Performance

Shares of NYSE:CMG opened at $61.34 on Monday. The business has a fifty day moving average of $60.56 and a 200-day moving average of $81.08. The firm has a market cap of $83.58 billion, a PE ratio of 57.09, a price-to-earnings-growth ratio of 2.64 and a beta of 1.27. Chipotle Mexican Grill has a twelve month low of $44.08 and a twelve month high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter last year, the company posted $0.23 EPS. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. On average, analysts anticipate that Chipotle Mexican Grill will post 1.11 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Laurie Schalow sold 4,404 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $65.01, for a total transaction of $286,304.04. Following the completion of the transaction, the insider now owns 185,792 shares in the company, valued at approximately $12,078,337.92. This represents a 2.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Curtis E. Garner sold 15,750 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $26,115,436.20. This trade represents a 3.33 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CMG. Shellback Capital LP raised its stake in shares of Chipotle Mexican Grill by 4,900.0% during the 2nd quarter. Shellback Capital LP now owns 125,000 shares of the restaurant operator’s stock worth $7,831,000 after purchasing an additional 122,500 shares in the last quarter. Hantz Financial Services Inc. raised its position in Chipotle Mexican Grill by 5,897.8% during the third quarter. Hantz Financial Services Inc. now owns 48,942 shares of the restaurant operator’s stock worth $2,820,000 after acquiring an additional 48,126 shares in the last quarter. L & S Advisors Inc bought a new position in shares of Chipotle Mexican Grill in the 3rd quarter valued at about $3,256,000. Optas LLC increased its stake in shares of Chipotle Mexican Grill by 318.5% during the 3rd quarter. Optas LLC now owns 17,160 shares of the restaurant operator’s stock worth $989,000 after purchasing an additional 13,060 shares during the last quarter. Finally, Savvy Advisors Inc. acquired a new stake in Chipotle Mexican Grill in the 3rd quarter valued at about $758,000. 91.31% of the stock is owned by institutional investors and hedge funds.

About Chipotle Mexican Grill

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.