Royal Bank of Canada Reaffirms Outperform Rating for Chipotle Mexican Grill (NYSE:CMG)

Chipotle Mexican Grill (NYSE:CMG)‘s stock had its “outperform” rating restated by investment analysts at Royal Bank of Canada in a research report issued on Tuesday,Benzinga reports. They presently have a $75.00 target price on the restaurant operator’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 28.57% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Raymond James raised their target price on Chipotle Mexican Grill from $66.00 to $72.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Barclays lifted their target price on Chipotle Mexican Grill from $60.00 to $63.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 7th. Oppenheimer increased their price target on shares of Chipotle Mexican Grill from $65.00 to $69.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. Piper Sandler lifted their price objective on shares of Chipotle Mexican Grill from $59.00 to $60.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, TD Cowen increased their price objective on shares of Chipotle Mexican Grill from $65.00 to $68.00 and gave the stock 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, Chipotle Mexican Grill has an average rating of “Moderate Buy” and an average target price of $66.88.

Chipotle Mexican Grill Stock Up 0.9 %

Shares of CMG opened at $58.34 on Tuesday. The company has a 50 day moving average of $60.61 and a two-hundred day moving average of $57.72. Chipotle Mexican Grill has a twelve month low of $47.88 and a twelve month high of $69.26. The company has a market cap of $79.49 billion, a price-to-earnings ratio of 54.30, a price-to-earnings-growth ratio of 1.88 and a beta of 1.27.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly 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. The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Chipotle Mexican Grill had a return on equity of 43.20% and a net margin of 13.51%. The firm’s revenue was up 13.0% compared to the same quarter last year. During the same period last year, the business posted $0.23 earnings per share. On average, sell-side analysts expect that Chipotle Mexican Grill will post 1.11 EPS for the current year.

Insider Transactions at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Laurie Schalow sold 4,404 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $65.01, for a total value 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. The trade was a 2.32 % 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. Company insiders own 1.02% of the company’s stock.

Institutional Trading of Chipotle Mexican Grill

A number of hedge funds and other institutional investors have recently made changes to their positions in CMG. Alpha DNA Investment Management LLC grew its position in Chipotle Mexican Grill by 1.2% in the third quarter. Alpha DNA Investment Management LLC now owns 13,644 shares of the restaurant operator’s stock worth $786,000 after buying an additional 168 shares during the last quarter. Lecap Asset Management Ltd. raised its position in shares of Chipotle Mexican Grill by 1.2% during the third quarter. Lecap Asset Management Ltd. now owns 14,625 shares of the restaurant operator’s stock worth $843,000 after purchasing an additional 175 shares during the period. Connable Office Inc. lifted its holdings in shares of Chipotle Mexican Grill by 0.6% during the third quarter. Connable Office Inc. now owns 31,928 shares of the restaurant operator’s stock valued at $1,840,000 after purchasing an additional 178 shares during the last quarter. Albion Financial Group UT boosted its position in shares of Chipotle Mexican Grill by 14.4% in the 3rd quarter. Albion Financial Group UT now owns 1,430 shares of the restaurant operator’s stock valued at $82,000 after purchasing an additional 180 shares during the period. Finally, Traynor Capital Management Inc. increased its stake in Chipotle Mexican Grill by 2.5% in the 4th quarter. Traynor Capital Management Inc. now owns 7,522 shares of the restaurant operator’s stock worth $454,000 after purchasing an additional 181 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.