Royal Bank of Canada Issues Positive Forecast for Chipotle Mexican Grill (NYSE:CMG) Stock Price

Chipotle Mexican Grill (NYSE:CMG) had its target price raised by equities researchers at Royal Bank of Canada from $70.00 to $75.00 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. Royal Bank of Canada’s price objective indicates a potential upside of 22.27% from the company’s current price.

A number of other equities research analysts have also recently weighed in on the company. 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. Truist Financial increased their price target on shares of Chipotle Mexican Grill from $72.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. TD Cowen raised their price target on shares of Chipotle Mexican Grill from $65.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Wells Fargo & Company boosted their price objective on shares of Chipotle Mexican Grill from $67.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. Finally, Jefferies Financial Group raised their target price on shares of Chipotle Mexican Grill from $56.00 to $62.00 and gave the company a “hold” rating in a research note on Monday. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Chipotle Mexican Grill currently has an average rating of “Moderate Buy” and a consensus target price of $66.55.

Chipotle Mexican Grill Price Performance

Shares of Chipotle Mexican Grill stock opened at $61.34 on Tuesday. The stock has a market cap of $83.58 billion, a price-to-earnings ratio of 57.09, a PEG ratio of 2.64 and a beta of 1.27. The firm’s 50-day moving average is $60.56 and its two-hundred day moving average is $81.08. Chipotle Mexican Grill has a 1 year low of $44.08 and a 1 year high of $69.26.

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

Insider Buying and Selling at Chipotle Mexican Grill

In other news, insider Laurie Schalow sold 4,404 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $65.01, for a total transaction of $286,304.04. Following the sale, the insider now directly owns 185,792 shares in the company, valued at $12,078,337.92. This trade represents a 2.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Curtis E. Garner sold 15,750 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $57.05, for a total value of $898,537.50. Following the completion of the transaction, the insider now directly owns 457,764 shares of the company’s stock, valued at $26,115,436.20. The trade was a 3.33 % decrease in their position. The disclosure for this sale can be found here. 1.02% of the stock is owned by corporate 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. RiverPark Advisors LLC increased 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 worth $25,000 after purchasing an additional 392 shares in the last quarter. Archer Investment Corp acquired a new position in shares of Chipotle Mexican Grill during the second quarter valued at approximately $25,000. Oliver Lagore Vanvalin Investment Group boosted its stake 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 worth $25,000 after acquiring an additional 392 shares during the last quarter. Chilton Capital Management LLC acquired a new stake in shares of Chipotle Mexican Grill in the second quarter worth approximately $27,000. Finally, MCF Advisors LLC raised its stake in Chipotle Mexican Grill by 5,525.0% in the 2nd quarter. MCF Advisors LLC now owns 450 shares of the restaurant operator’s stock valued at $28,000 after purchasing an additional 442 shares during the last quarter. Hedge funds and other institutional investors own 91.31% of the company’s stock.

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.