Chipotle Mexican Grill (NYSE:CMG) Price Target Raised to $56.00 at BMO Capital Markets

Chipotle Mexican Grill (NYSE:CMG) had its target price raised by BMO Capital Markets from $55.00 to $56.00 in a report released on Wednesday, Benzinga reports. They currently have a market perform rating on the restaurant operator’s stock.

A number of other brokerages have also recently issued reports on CMG. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $67.00 target price on shares of Chipotle Mexican Grill in a report on Wednesday, August 14th. Piper Sandler boosted their price objective on Chipotle Mexican Grill from $56.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, October 11th. Oppenheimer restated an “outperform” rating and set a $65.00 price objective on shares of Chipotle Mexican Grill in a research note on Monday, September 30th. Guggenheim raised their target price on Chipotle Mexican Grill from $54.50 to $55.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Finally, Evercore ISI upped their price target on shares of Chipotle Mexican Grill from $59.00 to $70.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 15th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, Chipotle Mexican Grill has a consensus rating of “Moderate Buy” and a consensus target price of $64.47.

Chipotle Mexican Grill Trading Down 7.8 %

Shares of CMG opened at $55.76 on Wednesday. Chipotle Mexican Grill has a 52 week low of $38.01 and a 52 week high of $69.26. The firm has a market cap of $76.36 billion, a price-to-earnings ratio of 54.67, a PEG ratio of 2.41 and a beta of 1.25. The stock has a 50 day moving average of $57.14 and a 200-day moving average of $81.32.

Chipotle Mexican Grill (NYSE:CMG) last released its earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.02. Chipotle Mexican Grill had a net margin of 13.23% and a return on equity of 44.01%. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the previous year, the firm earned $0.23 earnings per share. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. On average, sell-side analysts predict that Chipotle Mexican Grill will post 1.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Chipotle Mexican Grill 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 completion of the sale, the insider now directly owns 358,300 shares of the company’s stock, valued at approximately $19,591,844. This represents 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. In other news, insider Curtis E. Garner sold 17,394 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 358,300 shares in the company, valued at $19,591,844. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Curtis E. Garner sold 15,750 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 473,514 shares of the company’s stock, valued at approximately $26,052,740.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,684 shares of company stock valued at $2,817,127. 1.02% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CMG. Valeo Financial Advisors LLC grew its stake in Chipotle Mexican Grill by 84.1% during the 1st quarter. Valeo Financial Advisors LLC now owns 416 shares of the restaurant operator’s stock valued at $1,210,000 after acquiring an additional 190 shares in the last quarter. Valley National Advisers Inc. boosted its holdings in shares of Chipotle Mexican Grill by 9.8% during the first quarter. Valley National Advisers Inc. now owns 45 shares of the restaurant operator’s stock worth $131,000 after purchasing an additional 4 shares during the period. Norden Group LLC acquired a new position in Chipotle Mexican Grill in the 1st quarter valued at approximately $2,163,000. Westside Investment Management Inc. purchased a new stake in Chipotle Mexican Grill in the 1st quarter worth approximately $58,000. Finally, First Trust Direct Indexing L.P. boosted its stake in shares of Chipotle Mexican Grill by 14.8% during the 1st quarter. First Trust Direct Indexing L.P. now owns 458 shares of the restaurant operator’s stock valued at $1,331,000 after buying an additional 59 shares during the period. Hedge funds and other institutional investors own 91.31% of the company’s stock.

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.