Chipotle Mexican Grill’s (CMG) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Chipotle Mexican Grill (NYSE:CMG) in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has a $75.00 price target on the restaurant operator’s stock.

A number of other research analysts have also issued reports on CMG. Citigroup decreased their target price on shares of Chipotle Mexican Grill from $70.00 to $69.00 and set a “buy” rating on the stock in a research report on Monday. Jefferies Financial Group increased their price target on Chipotle Mexican Grill from $56.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, December 16th. Wells Fargo & Company lifted their price objective on Chipotle Mexican Grill from $67.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. Piper Sandler increased their target price on Chipotle Mexican Grill from $59.00 to $60.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Barclays boosted their price target on Chipotle Mexican Grill from $60.00 to $63.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 7th. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $66.88.

Chipotle Mexican Grill Trading Down 0.9 %

Chipotle Mexican Grill stock opened at $57.76 on Tuesday. The company has a market capitalization of $78.70 billion, a price-to-earnings ratio of 53.76, a PEG ratio of 1.88 and a beta of 1.27. The stock’s 50 day moving average is $60.63 and its 200-day moving average is $57.72. Chipotle Mexican Grill has a 12 month low of $46.29 and a 12 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, topping the consensus estimate of $0.25 by $0.02. The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.82 billion. Chipotle Mexican Grill had a return on equity of 43.20% and a net margin of 13.51%. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.23 EPS. As a group, equities research analysts predict that Chipotle Mexican Grill will post 1.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Chipotle Mexican Grill news, insider Laurie Schalow sold 4,404 shares of the stock in a transaction that occurred 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 sale, the insider now owns 185,792 shares of the company’s stock, valued at approximately $12,078,337.92. This represents a 2.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.02% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Chipotle Mexican Grill

A number of institutional investors have recently modified their holdings of CMG. ZRC Wealth Management LLC grew its holdings in Chipotle Mexican Grill by 384.0% during the 3rd quarter. ZRC Wealth Management LLC now owns 484 shares of the restaurant operator’s stock worth $28,000 after acquiring an additional 384 shares during the period. Transcendent Capital Group LLC grew its stake in Chipotle Mexican Grill by 950.0% during the third quarter. Transcendent Capital Group LLC now owns 525 shares of the restaurant operator’s stock worth $30,000 after purchasing an additional 475 shares during the period. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Chipotle Mexican Grill in the third quarter worth approximately $32,000. Capital Performance Advisors LLP bought a new position in shares of Chipotle Mexican Grill during the 3rd quarter worth approximately $33,000. Finally, Quarry LP acquired a new stake in shares of Chipotle Mexican Grill during the 2nd quarter worth approximately $37,000. 91.31% of the stock is owned by institutional investors.

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.