Oppenheimer Forecasts Strong Price Appreciation for Chipotle Mexican Grill (NYSE:CMG) Stock

Chipotle Mexican Grill (NYSE:CMG) had its price target lifted by Oppenheimer from $65.00 to $69.00 in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the restaurant operator’s stock.

A number of other brokerages have also issued reports on CMG. TD Cowen lifted their target price on Chipotle Mexican Grill from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Piper Sandler upped their target price on Chipotle Mexican Grill from $59.00 to $60.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Jefferies Financial Group raised their price target on shares of Chipotle Mexican Grill from $56.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, December 16th. Barclays lifted their price target on shares of Chipotle Mexican Grill from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Robert W. Baird boosted their target price on shares of Chipotle Mexican Grill from $62.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $66.81.

Chipotle Mexican Grill Stock Performance

Shares of NYSE:CMG opened at $57.89 on Tuesday. The company has a market cap of $78.88 billion, a P/E ratio of 53.88, a PEG ratio of 2.64 and a beta of 1.27. Chipotle Mexican Grill has a one year low of $44.49 and a one year high of $69.26. The business’s 50-day simple moving average is $60.98 and its 200 day simple moving average is $80.51.

Chipotle Mexican Grill (NYSE:CMG) last posted its earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.82 billion. Chipotle Mexican Grill had a net margin of 13.51% and a return on equity of 43.20%. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.23 earnings per share. Analysts predict 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 Chipotle Mexican Grill stock in a transaction that occurred on 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 owns 185,792 shares of the company’s stock, valued at approximately $12,078,337.92. The trade was a 2.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.02% of the stock is currently owned by company insiders.

Institutional Trading of Chipotle Mexican Grill

Several large investors have recently added to or reduced their stakes in the business. Alpha DNA Investment Management LLC grew its stake in shares of Chipotle Mexican Grill by 1.2% in the third quarter. Alpha DNA Investment Management LLC now owns 13,644 shares of the restaurant operator’s stock worth $786,000 after purchasing an additional 168 shares in the last quarter. Lecap Asset Management Ltd. grew its position in Chipotle Mexican Grill by 1.2% in the 3rd quarter. Lecap Asset Management Ltd. now owns 14,625 shares of the restaurant operator’s stock valued at $843,000 after buying an additional 175 shares in the last quarter. Connable Office Inc. increased its stake in Chipotle Mexican Grill by 0.6% during the 3rd quarter. Connable Office Inc. now owns 31,928 shares of the restaurant operator’s stock valued at $1,840,000 after buying an additional 178 shares during the period. Albion Financial Group UT raised its position in shares of Chipotle Mexican Grill by 14.4% during the 3rd quarter. Albion Financial Group UT now owns 1,430 shares of the restaurant operator’s stock worth $82,000 after buying an additional 180 shares in the last quarter. Finally, CVA Family Office LLC lifted its stake in shares of Chipotle Mexican Grill by 8.7% in the 3rd quarter. CVA Family Office LLC now owns 2,313 shares of the restaurant operator’s stock worth $133,000 after acquiring an additional 185 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.