Truist Financial Raises Chipotle Mexican Grill (NYSE:CMG) Price Target to $71.00

Chipotle Mexican Grill (NYSE:CMG) had its target price boosted by Truist Financial from $69.00 to $71.00 in a report issued on Tuesday morning, Benzinga reports. They currently have a buy rating on the restaurant operator’s stock.

Several other brokerages have also commented on CMG. Stifel Nicolaus restated a “buy” rating and issued a $70.00 price objective on shares of Chipotle Mexican Grill in a report on Wednesday, August 14th. Loop Capital lowered their price target on Chipotle Mexican Grill from $58.00 to $53.00 and set a “hold” rating for the company in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $67.00 price objective on shares of Chipotle Mexican Grill in a report on Wednesday, August 14th. BMO Capital Markets decreased their target price on Chipotle Mexican Grill from $57.00 to $55.00 and set a “market perform” rating on the stock in a research note on Thursday, July 25th. Finally, Citigroup lifted their target price on 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 investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $63.03.

Chipotle Mexican Grill Stock Down 0.4 %

CMG stock opened at $58.86 on Tuesday. Chipotle Mexican Grill has a 52-week low of $35.97 and a 52-week high of $69.26. The stock has a market cap of $80.84 billion, a price-to-earnings ratio of 62.62, a price-to-earnings-growth ratio of 2.41 and a beta of 1.25. The business has a fifty day moving average of $56.05 and a two-hundred day moving average of $81.11.

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

Insider Activity at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, 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 transaction, the insider now 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Curtis E. Garner sold 17,394 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $54.68, for a total transaction of $951,103.92. Following the transaction, the insider now directly owns 358,300 shares in the company, valued at approximately $19,591,844. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robin S. Hickenlooper sold 1,790 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $56.38, for a total transaction of $100,920.20. Following the completion of the sale, the director now owns 41,510 shares of the company’s stock, valued at approximately $2,340,333.80. This trade represents a 0.00 % decrease in their position. 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 in the last three months. 1.02% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chipotle Mexican Grill

Hedge funds have recently modified their holdings of the stock. Accurate Wealth Management LLC purchased a new position in Chipotle Mexican Grill during the 3rd quarter worth $2,790,000. Net Worth Advisory Group acquired a new position in shares of Chipotle Mexican Grill during the third quarter worth about $623,000. Stratos Wealth Partners LTD. raised its holdings in Chipotle Mexican Grill by 16.2% during the third quarter. Stratos Wealth Partners LTD. now owns 169,132 shares of the restaurant operator’s stock worth $9,745,000 after purchasing an additional 23,570 shares in the last quarter. Richard W. Paul & Associates LLC raised its holdings in Chipotle Mexican Grill by 9.1% during the third quarter. Richard W. Paul & Associates LLC now owns 19,156 shares of the restaurant operator’s stock worth $1,104,000 after purchasing an additional 1,592 shares in the last quarter. Finally, Strategic Advocates LLC acquired a new stake in Chipotle Mexican Grill in the third quarter valued at about $2,185,000. 91.31% of the stock is 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.