Chipotle Mexican Grill (NYSE:CMG) Price Target Raised to $70.00

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

CMG has been the topic of a number of other research reports. Wedbush restated an “outperform” rating and set a $58.00 target price on shares of Chipotle Mexican Grill in a report on Thursday, August 29th. Stephens restated an “equal weight” rating and issued a $61.00 price objective on shares of Chipotle Mexican Grill in a report on Tuesday, August 13th. TD Cowen reaffirmed a “buy” rating and set a $65.00 target price on shares of Chipotle Mexican Grill in a research note on Thursday, September 12th. Robert W. Baird dropped their price target on Chipotle Mexican Grill from $74.00 to $62.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. Finally, StockNews.com lowered Chipotle Mexican Grill from a “buy” rating to a “hold” rating in a research report on Thursday, July 4th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Chipotle Mexican Grill presently has a consensus rating of “Moderate Buy” and an average target price of $63.03.

Chipotle Mexican Grill Stock Down 0.4 %

Shares of CMG stock opened at $58.86 on Tuesday. The firm has a market capitalization of $80.84 billion, a price-to-earnings ratio of 62.62, a PEG ratio of 2.41 and a beta of 1.25. The stock has a fifty day moving average of $56.05 and a 200 day moving average of $81.11. Chipotle Mexican Grill has a 52 week low of $35.97 and a 52 week high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last posted its earnings results on Wednesday, July 24th. The restaurant operator reported $0.34 earnings per share for the quarter, topping 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 firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter in the prior year, the business earned $12.65 EPS. The business’s revenue for the quarter was up 18.2% on a year-over-year basis. Equities research analysts anticipate that Chipotle Mexican Grill will post 1.08 earnings per share for the current year.

Insider Activity at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 17,394 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $54.68, for a total value of $951,103.92. Following the transaction, the insider now directly owns 358,300 shares of the company’s stock, valued at approximately $19,591,844. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Chipotle Mexican Grill news, 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Curtis E. Garner sold 17,394 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $54.68, for a total transaction of $951,103.92. Following the completion of the transaction, the insider now owns 358,300 shares of the company’s stock, valued at approximately $19,591,844. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,684 shares of company stock worth $2,817,127. 1.02% of the stock is owned by insiders.

Hedge Funds Weigh In On Chipotle Mexican Grill

Large investors have recently made changes to their positions in the business. Shellback Capital LP raised its stake in 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 valued at $7,831,000 after purchasing an additional 122,500 shares during the period. Swedbank AB purchased a new stake in shares of Chipotle Mexican Grill during the 1st quarter worth approximately $53,979,000. Transform Wealth LLC raised its position in shares of Chipotle Mexican Grill by 4,760.7% during the 2nd quarter. Transform Wealth LLC now owns 9,527 shares of the restaurant operator’s stock valued at $597,000 after buying an additional 9,331 shares in the last quarter. First Hawaiian Bank lifted its holdings in shares of Chipotle Mexican Grill by 4,731.0% in the 2nd quarter. First Hawaiian Bank now owns 17,150 shares of the restaurant operator’s stock valued at $1,074,000 after acquiring an additional 16,795 shares during the last quarter. Finally, Legacy Private Trust Co. purchased a new position in Chipotle Mexican Grill in the third quarter worth about $2,267,000. 91.31% of the stock is currently owned by hedge funds and other 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.