Sanford C. Bernstein Reiterates “Outperform” Rating for Chipotle Mexican Grill (NYSE:CMG)

Chipotle Mexican Grill (NYSE:CMG)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Sanford C. Bernstein in a report released on Tuesday,Benzinga reports. They currently have a $70.00 target price on the restaurant operator’s stock. Sanford C. Bernstein’s price target would suggest a potential upside of 20.08% from the company’s previous close.

A number of other brokerages also recently weighed in on CMG. Royal Bank of Canada lifted their target price on Chipotle Mexican Grill from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, December 17th. BMO Capital Markets boosted their target price on shares of Chipotle Mexican Grill from $55.00 to $56.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Robert W. Baird raised their price target on shares of Chipotle Mexican Grill from $62.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Truist Financial upped their price objective on shares of Chipotle Mexican Grill from $72.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, TD Cowen raised their target price on Chipotle Mexican Grill from $65.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.99.

Chipotle Mexican Grill Stock Up 2.8 %

Shares of NYSE CMG opened at $58.30 on Tuesday. The company has a market capitalization of $79.43 billion, a PE ratio of 54.26, a P/E/G ratio of 1.88 and a beta of 1.27. Chipotle Mexican Grill has a twelve month low of $46.29 and a twelve month high of $69.26. The firm has a fifty day simple moving average of $60.64 and a 200 day simple moving average of $57.72.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.02. Chipotle Mexican Grill had a return on equity of 43.20% and a net margin of 13.51%. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same period last year, the company posted $0.23 EPS. The business’s quarterly revenue was up 13.0% on a year-over-year basis. As a group, equities analysts expect that Chipotle Mexican Grill will post 1.11 earnings per share for the current fiscal 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 stock was sold at an average price of $65.01, for a total transaction of $286,304.04. Following the sale, the insider now directly owns 185,792 shares in the company, valued at approximately $12,078,337.92. This trade represents a 2.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CMG. ZRC Wealth Management LLC raised its stake in shares of Chipotle Mexican Grill by 384.0% during the 3rd quarter. ZRC Wealth Management LLC now owns 484 shares of the restaurant operator’s stock worth $28,000 after purchasing an additional 384 shares during the period. Transcendent Capital Group LLC increased its holdings in 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 buying an additional 475 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Chipotle Mexican Grill in the third quarter worth about $32,000. Capital Performance Advisors LLP purchased a new position in Chipotle Mexican Grill in the third quarter valued at about $33,000. Finally, Global Trust Asset Management LLC bought a new position in shares of Chipotle Mexican Grill during the 3rd quarter valued at approximately $35,000. Institutional investors own 91.31% of the company’s stock.

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.