Chipotle Mexican Grill (NYSE:CMG) Price Target Raised to $70.00 at Citigroup

Chipotle Mexican Grill (NYSE:CMG) had its price objective increased by Citigroup from $69.00 to $70.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the restaurant operator’s stock. Citigroup’s target price indicates a potential upside of 22.23% from the stock’s current price.

A number of other analysts also recently issued reports on the stock. Barclays dropped their price target on shares of Chipotle Mexican Grill from $63.00 to $60.00 and set an “equal weight” rating on the stock in a report on Wednesday. Stephens dropped their price target on shares of Chipotle Mexican Grill from $61.00 to $60.00 and set an “equal weight” rating on the stock in a report on Wednesday. Jefferies Financial Group raised their price target on shares of Chipotle Mexican Grill from $56.00 to $62.00 and gave the company a “hold” rating in a report on Monday, December 16th. Cfra raised shares of Chipotle Mexican Grill from a “buy” rating to a “strong-buy” rating and raised their price target for the company from $59.00 to $73.00 in a report on Wednesday. Finally, Truist Financial raised their price objective on shares of Chipotle Mexican Grill from $72.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Ten investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $66.31.

Chipotle Mexican Grill Stock Performance

NYSE:CMG opened at $57.27 on Wednesday. The firm has a market cap of $78.04 billion, a P/E ratio of 53.31, a P/E/G ratio of 2.07 and a beta of 1.27. Chipotle Mexican Grill has a fifty-two week low of $47.98 and a fifty-two week high of $69.26. The firm has a 50-day simple moving average of $60.27 and a two-hundred day simple moving average of $57.84.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Tuesday, February 4th. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. Chipotle Mexican Grill had a net margin of 13.51% and a return on equity of 43.20%. On average, equities research analysts predict that Chipotle Mexican Grill will post 1.11 EPS for the current year.

Insider Buying and Selling

In related news, 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 in the company, valued at $12,078,337.92. This trade represents a 2.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.02% of the stock is owned by corporate insiders.

Institutional Trading of Chipotle Mexican Grill

A number of hedge funds and other institutional investors have recently bought and sold shares of CMG. Ethos Financial Group LLC purchased a new position in Chipotle Mexican Grill in the fourth quarter valued at about $31,000. Transcendent Capital Group LLC lifted its holdings in shares of Chipotle Mexican Grill by 950.0% during the third quarter. Transcendent Capital Group LLC now owns 525 shares of the restaurant operator’s stock worth $30,000 after purchasing an additional 475 shares during the period. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Chipotle Mexican Grill during the third quarter worth about $32,000. Capital Performance Advisors LLP acquired a new stake in shares of Chipotle Mexican Grill during the third quarter worth about $33,000. Finally, Global Trust Asset Management LLC acquired a new stake in shares of Chipotle Mexican Grill during the third quarter worth about $35,000. 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.