Chipotle Mexican Grill (NYSE:CMG) Given Outperform Rating at Wedbush

Chipotle Mexican Grill (NYSE:CMG)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Wedbush in a note issued to investors on Wednesday, Benzinga reports. They currently have a $69.00 target price on the restaurant operator’s stock. Wedbush’s price objective would suggest a potential upside of 23.81% from the company’s previous close.

A number of other analysts have also issued reports on CMG. TD Cowen increased their price target on shares of Chipotle Mexican Grill from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday. Wells Fargo & Company raised their price objective on shares of Chipotle Mexican Grill from $66.00 to $67.00 and gave the company an “overweight” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $67.00 price objective on shares of Chipotle Mexican Grill in a research report on Wednesday, August 14th. Evercore ISI raised their price objective on shares of Chipotle Mexican Grill from $59.00 to $70.00 and gave the company an “outperform” rating in a research report on Tuesday, October 15th. Finally, Citigroup cut their price objective on shares of Chipotle Mexican Grill from $71.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $64.47.

Chipotle Mexican Grill Stock Performance

Shares of CMG traded down $4.76 during midday trading on Wednesday, hitting $55.73. 28,240,745 shares of the stock traded hands, compared to its average volume of 13,972,897. The firm has a market capitalization of $76.32 billion, a PE ratio of 54.64, a price-to-earnings-growth ratio of 2.41 and a beta of 1.25. The business’s 50 day moving average price is $57.10 and its two-hundred day moving average price is $81.50. Chipotle Mexican Grill has a 1-year low of $38.01 and a 1-year high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.82 billion. Chipotle Mexican Grill had a net margin of 13.23% and a return on equity of 44.01%. The business’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.23 earnings per share. As a group, equities research analysts forecast that Chipotle Mexican Grill will post 1.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other Chipotle Mexican Grill news, Director Robin S. Hickenlooper sold 1,790 shares of Chipotle Mexican Grill 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 transaction, the director now directly owns 41,510 shares of the company’s stock, valued at approximately $2,340,333.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 stock was 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 approximately $26,052,740.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robin S. Hickenlooper sold 1,790 shares of Chipotle Mexican Grill stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $56.38, for a total value of $100,920.20. Following the completion of the transaction, the director now directly 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. Insiders have sold 50,684 shares of company stock worth $2,817,127 over the last 90 days. Corporate insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Global Wealth Management Investment Advisory Inc. bought a new position in shares of Chipotle Mexican Grill in the third quarter valued at about $1,757,000. Heritage Investors Management Corp raised its holdings in shares of Chipotle Mexican Grill by 10.7% in the third quarter. Heritage Investors Management Corp now owns 411,356 shares of the restaurant operator’s stock valued at $23,702,000 after buying an additional 39,906 shares during the last quarter. Arthur M. Cohen & Associates LLC raised its holdings in shares of Chipotle Mexican Grill by 3.6% in the third quarter. Arthur M. Cohen & Associates LLC now owns 59,290 shares of the restaurant operator’s stock valued at $3,390,000 after buying an additional 2,040 shares during the last quarter. Pittenger & Anderson Inc. raised its holdings in shares of Chipotle Mexican Grill by 3.1% in the third quarter. Pittenger & Anderson Inc. now owns 8,250 shares of the restaurant operator’s stock valued at $475,000 after buying an additional 250 shares during the last quarter. Finally, Amalgamated Bank raised its holdings in shares of Chipotle Mexican Grill by 7.2% in the third quarter. Amalgamated Bank now owns 315,595 shares of the restaurant operator’s stock valued at $18,185,000 after buying an additional 21,099 shares during the last quarter. 91.31% of the stock is 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.