Citigroup Raises Chipotle Mexican Grill (NYSE:CMG) Price Target to $71.00

Chipotle Mexican Grill (NYSE:CMG) had its target price boosted by Citigroup from $69.00 to $71.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the restaurant operator’s stock.

Other equities analysts have also issued reports about the stock. The Goldman Sachs Group lowered their target price on shares of Chipotle Mexican Grill from $74.60 to $67.00 and set a buy rating for the company in a report on Thursday, July 25th. Loop Capital decreased their price objective on shares of Chipotle Mexican Grill from $58.00 to $53.00 and set a hold rating for the company in a report on Thursday, July 25th. Stifel Nicolaus restated a buy rating and issued a $70.00 price objective on shares of Chipotle Mexican Grill in a report on Wednesday, August 14th. 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. Finally, Argus boosted their price objective on shares of Chipotle Mexican Grill from $73.36 to $77.76 and gave the stock a buy rating in a report on Tuesday, June 18th. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Chipotle Mexican Grill has a consensus rating of Moderate Buy and an average price target of $62.44.

Chipotle Mexican Grill Stock Up 0.7 %

NYSE CMG opened at $57.12 on Wednesday. The stock’s 50-day simple moving average is $55.08 and its two-hundred day simple moving average is $81.07. Chipotle Mexican Grill has a twelve month low of $35.37 and a twelve month high of $69.26. The company has a market capitalization of $78.45 billion, a price-to-earnings ratio of 60.77, a PEG ratio of 2.43 and a beta of 1.25.

Chipotle Mexican Grill (NYSE:CMG) last posted its earnings results on Wednesday, July 24th. The restaurant operator reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.02. The company had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.94 billion. Chipotle Mexican Grill had a return on equity of 44.01% and a net margin of 13.23%. Chipotle Mexican Grill’s quarterly revenue was up 18.2% on a year-over-year basis. During the same period last year, the firm earned $12.65 earnings per share. On average, equities analysts expect that Chipotle Mexican Grill will post 1.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Curtis E. Garner sold 17,394 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $54.68, for a total transaction of $951,103.92. Following the sale, the insider now directly owns 358,300 shares in the company, valued at approximately $19,591,844. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 15,750 shares of Chipotle Mexican Grill stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $55.02, for a total transaction of $866,565.00. Following the completion of the transaction, the insider now directly owns 473,514 shares of the company’s stock, valued at $26,052,740.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Curtis E. Garner sold 17,394 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $54.68, for a total transaction of $951,103.92. Following the completion of the sale, the insider now directly owns 358,300 shares in the company, valued at approximately $19,591,844. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,934 shares of company stock worth $1,918,589 in the last 90 days. 1.02% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chipotle Mexican Grill

Hedge funds have recently added to or reduced their stakes in the company. Scotia Capital Inc. purchased a new stake in shares of Chipotle Mexican Grill in the fourth quarter worth approximately $226,000. Rafferty Asset Management LLC boosted its stake in shares of Chipotle Mexican Grill by 2.3% during the fourth quarter. Rafferty Asset Management LLC now owns 2,305 shares of the restaurant operator’s stock valued at $5,271,000 after purchasing an additional 51 shares during the period. Lake Street Advisors Group LLC purchased a new position in Chipotle Mexican Grill in the 4th quarter worth about $414,000. Tower Research Capital LLC TRC lifted its holdings in Chipotle Mexican Grill by 140.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,065 shares of the restaurant operator’s stock valued at $9,296,000 after buying an additional 2,372 shares in the last quarter. Finally, Crossmark Global Holdings Inc. boosted its holdings in shares of Chipotle Mexican Grill by 1.2% in the fourth quarter. Crossmark Global Holdings Inc. now owns 1,372 shares of the restaurant operator’s stock valued at $3,138,000 after purchasing an additional 16 shares during the period. 91.31% of the stock is currently owned by 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.