Chipotle Mexican Grill (NYSE:CMG) Price Target Increased to $59.00 by Analysts at Piper Sandler

Chipotle Mexican Grill (NYSE:CMG) had its price objective hoisted by Piper Sandler from $56.00 to $59.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the restaurant operator’s stock. Piper Sandler’s price target would indicate a potential upside of 0.60% from the stock’s previous close.

Several other research analysts have also commented on the stock. Guggenheim raised their price target on shares of Chipotle Mexican Grill from $54.50 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Truist Financial reaffirmed a “buy” rating and set a $69.00 target price on shares of Chipotle Mexican Grill in a report on Tuesday, August 13th. The Goldman Sachs Group decreased their price target on shares of Chipotle Mexican Grill from $74.60 to $67.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $67.00 price objective on shares of Chipotle Mexican Grill in a research report on Wednesday, August 14th. Finally, Argus lifted their price target on Chipotle Mexican Grill from $73.36 to $77.76 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $62.55.

Chipotle Mexican Grill Trading Up 0.5 %

Shares of CMG opened at $58.65 on Friday. The firm’s 50-day moving average is $55.60 and its two-hundred day moving average is $81.24. The firm has a market capitalization of $80.32 billion, a P/E ratio of 57.46, a PEG ratio of 2.41 and a beta of 1.25. Chipotle Mexican Grill has a twelve month low of $35.37 and a twelve month high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings results on Wednesday, July 24th. The restaurant operator reported $0.34 EPS for the quarter, beating the consensus estimate of $0.32 by $0.02. The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.94 billion. Chipotle Mexican Grill had a net margin of 13.23% and a return on equity of 44.01%. The company’s quarterly revenue was up 18.2% on a year-over-year basis. During the same period in the prior year, the business earned $12.65 earnings per share. Analysts predict that Chipotle Mexican Grill will post 1.08 EPS for the current year.

Insider Activity

In other news, insider Curtis E. Garner sold 17,394 shares of Chipotle Mexican Grill stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $54.68, for a total value of $951,103.92. Following the completion of the transaction, the insider now owns 358,300 shares in the company, valued at approximately $19,591,844. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Curtis E. Garner sold 17,394 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $54.68, for a total value of $951,103.92. Following the transaction, the insider now directly owns 358,300 shares in the company, valued at $19,591,844. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Curtis E. Garner sold 15,750 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $55.02, for a total value of $866,565.00. Following the completion of the transaction, the insider now directly owns 473,514 shares in the company, valued at $26,052,740.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 50,684 shares of company stock valued at $2,817,127. 1.02% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. United Advisor Group LLC bought a new stake in shares of Chipotle Mexican Grill during the 4th quarter valued at $503,000. PCA Investment Advisory Services Inc. bought a new position in shares of Chipotle Mexican Grill during the 4th quarter worth about $201,000. Peloton Wealth Strategists raised its position in shares of Chipotle Mexican Grill by 0.3% during the fourth quarter. Peloton Wealth Strategists now owns 1,451 shares of the restaurant operator’s stock worth $3,318,000 after purchasing an additional 4 shares during the period. GLOBALT Investments LLC GA bought a new stake in shares of Chipotle Mexican Grill during the fourth quarter worth about $1,068,000. Finally, V Square Quantitative Management LLC grew its stake in shares of Chipotle Mexican Grill by 10.9% in the 4th quarter. V Square Quantitative Management LLC now owns 102 shares of the restaurant operator’s stock worth $233,000 after acquiring an additional 10 shares in the last quarter. 91.31% of the stock is currently 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.