Piper Sandler Cuts Chipotle Mexican Grill (NYSE:CMG) Price Target to $59.00

Chipotle Mexican Grill (NYSE:CMG) had its target price cut by stock analysts at Piper Sandler from $60.00 to $59.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the restaurant operator’s stock. Piper Sandler’s price objective suggests a potential upside of 3.02% from the stock’s current price.

Several other research firms have also weighed in on CMG. KeyCorp dropped their price objective on shares of Chipotle Mexican Grill from $66.00 to $64.00 and set an “overweight” rating on the stock in a research note on Wednesday. Robert W. Baird increased their price target on Chipotle Mexican Grill from $62.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Loop Capital lifted their price objective on Chipotle Mexican Grill from $53.00 to $58.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Jefferies Financial Group upped 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, December 16th. Finally, Stephens reduced their price objective on Chipotle Mexican Grill from $61.00 to $60.00 and set an “equal weight” rating for the company in a research report on Wednesday. Ten investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $66.31.

Chipotle Mexican Grill Price Performance

CMG stock opened at $57.27 on Wednesday. Chipotle Mexican Grill has a 12 month low of $47.98 and a 12 month high of $69.26. The firm has a 50 day simple moving average of $60.27 and a 200 day simple moving average of $57.84. The firm has a market cap of $78.04 billion, a PE ratio of 53.31, a P/E/G ratio of 2.07 and a beta of 1.27.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings data on Tuesday, February 4th. The restaurant operator reported $0.25 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%. As a group, sell-side analysts expect that Chipotle Mexican Grill will post 1.11 earnings per share for the current year.

Insider Transactions at Chipotle Mexican Grill

In related news, insider Laurie Schalow sold 4,404 shares of Chipotle Mexican Grill stock in a transaction on Tuesday, December 10th. The shares were 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 owns 185,792 shares of the company’s stock, valued at approximately $12,078,337.92. This trade represents a 2.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Alpha DNA Investment Management LLC grew its stake in Chipotle Mexican Grill by 1.2% during the third quarter. Alpha DNA Investment Management LLC now owns 13,644 shares of the restaurant operator’s stock valued at $786,000 after acquiring an additional 168 shares in the last quarter. Lecap Asset Management Ltd. raised its holdings in shares of Chipotle Mexican Grill by 1.2% during 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. lifted its holdings in shares of Chipotle Mexican Grill by 0.6% in the 3rd quarter. Connable Office Inc. now owns 31,928 shares of the restaurant operator’s stock worth $1,840,000 after acquiring an additional 178 shares during the last quarter. Albion Financial Group UT boosted its position in Chipotle Mexican Grill by 14.4% during the third quarter. Albion Financial Group UT now owns 1,430 shares of the restaurant operator’s stock valued at $82,000 after buying an additional 180 shares during the period. Finally, Traynor Capital Management Inc. boosted its holdings in Chipotle Mexican Grill by 2.5% during the 4th quarter. Traynor Capital Management Inc. now owns 7,522 shares of the restaurant operator’s stock valued at $454,000 after acquiring an additional 181 shares during the period. 91.31% of the stock is currently owned by hedge funds and other institutional investors.

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.