Piper Sandler Issues Positive Forecast for Chipotle Mexican Grill (NYSE:CMG) Stock Price

Chipotle Mexican Grill (NYSE:CMG) had its price objective hoisted by Piper Sandler from $59.00 to $60.00 in a report released on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the restaurant operator’s stock.

Several other research analysts also recently weighed in on the company. Stephens reiterated an “equal weight” rating and issued a $61.00 target price on shares of Chipotle Mexican Grill in a research note on Tuesday, August 13th. Stifel Nicolaus reissued a “buy” rating and issued a $70.00 price objective on shares of Chipotle Mexican Grill in a research note on Wednesday, August 14th. Truist Financial raised their target price on shares of Chipotle Mexican Grill from $71.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday. Oppenheimer reiterated an “outperform” rating and set a $65.00 price target on shares of Chipotle Mexican Grill in a research note on Monday, September 30th. Finally, Citigroup raised their price objective on shares of Chipotle Mexican Grill from $69.00 to $71.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $64.47.

Chipotle Mexican Grill Price Performance

Shares of Chipotle Mexican Grill stock opened at $58.59 on Wednesday. The stock has a market capitalization of $80.24 billion, a price-to-earnings ratio of 54.76, a PEG ratio of 2.41 and a beta of 1.26. The firm’s fifty day simple moving average is $57.28 and its 200-day simple moving average is $81.30. Chipotle Mexican Grill has a 12 month low of $39.92 and a 12 month high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last announced its earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. Chipotle Mexican Grill had a net margin of 13.51% and a return on equity of 43.20%. The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same period in the prior year, the company earned $0.23 earnings per share. The business’s revenue was up 13.0% compared to the same quarter last year. Analysts anticipate that Chipotle Mexican Grill will post 1.1 earnings per share for the current year.

Insider Transactions at Chipotle Mexican Grill

In related news, insider Curtis E. Garner sold 15,750 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $57.05, for a total transaction of $898,537.50. Following the sale, the insider now owns 457,764 shares of the company’s stock, valued at $26,115,436.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Curtis E. Garner sold 15,750 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $57.05, for a total transaction of $898,537.50. Following the sale, the insider now owns 457,764 shares in the company, valued at approximately $26,115,436.20. 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 hyperlink. Also, insider Curtis E. Garner sold 17,394 shares of Chipotle Mexican Grill stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $54.68, for a total transaction of $951,103.92. Following the completion of the sale, the insider now directly owns 358,300 shares of the company’s stock, valued at $19,591,844. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,684 shares of company stock valued at $2,817,127 over the last three months. 1.02% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Chipotle Mexican Grill

Several large investors have recently added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Chipotle Mexican Grill during the 2nd quarter valued at about $25,000. Riverview Trust Co boosted its position in shares of Chipotle Mexican Grill by 4,900.0% in the second quarter. Riverview Trust Co now owns 400 shares of the restaurant operator’s stock worth $25,000 after acquiring an additional 392 shares during the last quarter. RiverPark Advisors LLC grew its holdings in Chipotle Mexican Grill by 4,900.0% in the second quarter. RiverPark Advisors LLC now owns 400 shares of the restaurant operator’s stock valued at $25,000 after purchasing an additional 392 shares during the period. Archer Investment Corp acquired a new position in Chipotle Mexican Grill during the second quarter worth approximately $25,000. Finally, Oliver Lagore Vanvalin Investment Group raised its stake in Chipotle Mexican Grill by 4,900.0% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the restaurant operator’s stock worth $25,000 after purchasing an additional 392 shares during the period. 91.31% of the stock is currently owned by hedge funds and other 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.