Wells Fargo & Company Forecasts Strong Price Appreciation for Chipotle Mexican Grill (NYSE:CMG) Stock

Chipotle Mexican Grill (NYSE:CMG) had its price target upped by Wells Fargo & Company from $67.00 to $75.00 in a research note issued to investors on Thursday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the restaurant operator’s stock.

Several other research firms also recently commented on CMG. Robert W. Baird boosted their price target on shares of Chipotle Mexican Grill from $62.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Loop Capital boosted their target price on Chipotle Mexican Grill from $53.00 to $58.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Stifel Nicolaus reissued a “buy” rating and set a $70.00 price objective on shares of Chipotle Mexican Grill in a research report on Wednesday, August 14th. Evercore ISI boosted their price target on shares of Chipotle Mexican Grill from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, December 5th. Finally, Royal Bank of Canada began coverage on shares of Chipotle Mexican Grill in a report on Friday, November 15th. They issued an “outperform” rating and a $70.00 price objective on the stock. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Chipotle Mexican Grill currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.71.

Chipotle Mexican Grill Trading Up 0.9 %

NYSE CMG opened at $66.18 on Thursday. The stock has a fifty day simple moving average of $60.05 and a 200-day simple moving average of $80.92. The stock has a market cap of $90.18 billion, a PE ratio of 61.60, a P/E/G ratio of 2.64 and a beta of 1.27. Chipotle Mexican Grill has a twelve month low of $44.08 and a twelve month high of $69.26.

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

Insider Activity

In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 15,750 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $57.05, for a total value of $898,537.50. Following the completion of the sale, the insider now directly owns 457,764 shares of the company’s stock, valued at approximately $26,115,436.20. This represents a 3.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Laurie Schalow sold 4,404 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was 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 directly owns 185,792 shares of the company’s stock, valued at approximately $12,078,337.92. This trade represents a 2.32 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.02% of the company’s stock.

Institutional Trading of Chipotle Mexican Grill

Large investors have recently modified their holdings of the company. RiverPark Advisors LLC grew its stake in shares of Chipotle Mexican Grill by 4,900.0% during the second quarter. RiverPark Advisors LLC now owns 400 shares of the restaurant operator’s stock valued at $25,000 after purchasing an additional 392 shares during the last quarter. Archer Investment Corp bought a new position in Chipotle Mexican Grill during the second quarter worth about $25,000. Oliver Lagore Vanvalin Investment Group boosted its holdings in shares of Chipotle Mexican Grill by 4,900.0% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the restaurant operator’s stock valued at $25,000 after buying an additional 392 shares during the period. Chilton Capital Management LLC acquired a new position in shares of Chipotle Mexican Grill during the second quarter worth about $27,000. Finally, MCF Advisors LLC grew its stake in shares of Chipotle Mexican Grill by 5,525.0% during the 2nd quarter. MCF Advisors LLC now owns 450 shares of the restaurant operator’s stock worth $28,000 after acquiring an additional 442 shares in the last quarter. 91.31% of the stock is owned by 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.