Oppenheimer Boosts Chipotle Mexican Grill (NYSE:CMG) Price Target to $69.00

Chipotle Mexican Grill (NYSE:CMG) had its price objective hoisted by Oppenheimer from $65.00 to $69.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the restaurant operator’s stock. Oppenheimer’s price target would indicate a potential upside of 19.19% from the stock’s current price.

A number of other analysts have also recently weighed in on CMG. Citigroup cut their price objective on shares of Chipotle Mexican Grill from $71.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Evercore ISI boosted their price target on shares of Chipotle Mexican Grill from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, December 5th. BMO Capital Markets raised their price objective on Chipotle Mexican Grill from $55.00 to $56.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Robert W. Baird boosted their target price on Chipotle Mexican Grill from $62.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Wedbush restated an “outperform” rating and set a $69.00 price target on shares of Chipotle Mexican Grill in a research note 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 company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $66.81.

Chipotle Mexican Grill Price Performance

NYSE:CMG opened at $57.89 on Tuesday. Chipotle Mexican Grill has a 12 month low of $44.49 and a 12 month high of $69.26. The firm has a market capitalization of $78.88 billion, a PE ratio of 53.88, a price-to-earnings-growth ratio of 2.64 and a beta of 1.27. The business’s fifty day moving average price is $60.94 and its 200 day moving average price is $80.67.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.82 billion. Chipotle Mexican Grill had a return on equity of 43.20% and a net margin of 13.51%. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.23 EPS. As a group, equities analysts anticipate that Chipotle Mexican Grill will post 1.11 EPS for the current year.

Insiders Place Their Bets

In related news, insider Laurie Schalow sold 4,404 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $65.01, for a total value of $286,304.04. Following the completion of the sale, the insider now owns 185,792 shares in the company, valued at $12,078,337.92. This trade represents a 2.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Oliver Lagore Vanvalin Investment Group grew its holdings in shares of Chipotle Mexican Grill by 4,900.0% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the restaurant operator’s stock worth $25,000 after acquiring an additional 392 shares during the period. ZRC Wealth Management LLC grew its holdings in Chipotle Mexican Grill by 384.0% in the third quarter. ZRC Wealth Management LLC now owns 484 shares of the restaurant operator’s stock valued at $28,000 after purchasing an additional 384 shares during the last quarter. Mark Sheptoff Financial Planning LLC acquired a new stake in Chipotle Mexican Grill in the second quarter valued at $31,000. Transcendent Capital Group LLC raised its stake in shares of Chipotle Mexican Grill by 950.0% during the 3rd quarter. Transcendent Capital Group LLC now owns 525 shares of the restaurant operator’s stock worth $30,000 after buying an additional 475 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of Chipotle Mexican Grill in the 3rd quarter worth about $32,000. 91.31% of the stock is owned by hedge funds and other 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.