Evercore ISI Increases Chipotle Mexican Grill (NYSE:CMG) Price Target to $70.00

Chipotle Mexican Grill (NYSE:CMG) had its price objective increased by investment analysts at Evercore ISI from $59.00 to $70.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the restaurant operator’s stock. Evercore ISI’s target price points to a potential upside of 17.77% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Oppenheimer restated an “outperform” rating and issued a $65.00 target price on shares of Chipotle Mexican Grill in a research note on Monday, September 30th. TD Cowen reaffirmed a “buy” rating and set a $65.00 target price on shares of Chipotle Mexican Grill in a report on Thursday, September 12th. Loop Capital lowered their price target on Chipotle Mexican Grill from $58.00 to $53.00 and set a “hold” rating for the company in a report on Thursday, July 25th. BMO Capital Markets reduced their price objective on Chipotle Mexican Grill from $57.00 to $55.00 and set a “market perform” rating on the stock in a research note on Thursday, July 25th. Finally, StockNews.com lowered shares of Chipotle Mexican Grill from a “buy” rating to a “hold” rating in a research note 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $63.03.

Chipotle Mexican Grill Price Performance

Shares of NYSE:CMG opened at $59.44 on Tuesday. Chipotle Mexican Grill has a 12 month low of $35.58 and a 12 month high of $69.26. The firm has a market capitalization of $81.63 billion, a PE ratio of 63.06, a P/E/G ratio of 2.41 and a beta of 1.25. The business has a 50-day moving average of $55.74 and a two-hundred day moving average of $81.41.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings data on Wednesday, July 24th. The restaurant operator reported $0.34 EPS for the quarter, beating the consensus estimate 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 company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same period last year, the company posted $12.65 earnings per share. The firm’s revenue was up 18.2% compared to the same quarter last year. As a group, research analysts anticipate that Chipotle Mexican Grill will post 1.08 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Robin S. Hickenlooper sold 1,790 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $56.38, for a total value of $100,920.20. Following the transaction, the director now directly owns 41,510 shares of the company’s stock, valued at approximately $2,340,333.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, 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 transaction, the insider now owns 457,764 shares in the company, valued at approximately $26,115,436.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robin S. Hickenlooper sold 1,790 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $56.38, for a total transaction of $100,920.20. Following the completion of the sale, the director now owns 41,510 shares of the company’s stock, valued at $2,340,333.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,684 shares of company stock worth $2,817,127. 1.02% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chipotle Mexican Grill

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. grew its stake in Chipotle Mexican Grill by 4,732.3% in the 2nd quarter. American Century Companies Inc. now owns 20,177,309 shares of the restaurant operator’s stock valued at $1,264,109,000 after buying an additional 19,759,754 shares during the last quarter. Legal & General Group Plc boosted its holdings in Chipotle Mexican Grill by 5,209.5% during the second quarter. Legal & General Group Plc now owns 10,935,669 shares of the restaurant operator’s stock valued at $685,128,000 after acquiring an additional 10,729,706 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Chipotle Mexican Grill by 5,930.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 10,310,132 shares of the restaurant operator’s stock valued at $645,930,000 after acquiring an additional 10,139,174 shares during the period. Bank of New York Mellon Corp grew its position in shares of Chipotle Mexican Grill by 4,816.1% in the second quarter. Bank of New York Mellon Corp now owns 8,356,173 shares of the restaurant operator’s stock valued at $523,514,000 after purchasing an additional 8,186,198 shares during the last quarter. Finally, Marshall Wace LLP increased its stake in shares of Chipotle Mexican Grill by 76,617.6% in the second quarter. Marshall Wace LLP now owns 5,904,952 shares of the restaurant operator’s stock worth $369,945,000 after purchasing an additional 5,897,255 shares during the period. 91.31% of the stock is currently 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.