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

Chipotle Mexican Grill (NYSE:CMG) had its target price raised by equities researchers at Piper Sandler from $59.00 to $60.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the restaurant operator’s stock. Piper Sandler’s price objective suggests a potential upside of 6.88% from the company’s previous close.

A number of other brokerages also recently commented on CMG. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $67.00 price target on shares of Chipotle Mexican Grill in a research report on Wednesday, August 14th. Barclays boosted their price target on shares of Chipotle Mexican Grill from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Wednesday. Robert W. Baird raised their price objective on shares of Chipotle Mexican Grill from $62.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday. The Goldman Sachs Group dropped their target price on shares of Chipotle Mexican Grill from $74.60 to $67.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Finally, Raymond James lowered their price target on shares of Chipotle Mexican Grill from $70.00 to $62.50 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Ten equities research 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 stock has an average rating of “Moderate Buy” and a consensus target price of $63.66.

Chipotle Mexican Grill Price Performance

Shares of CMG stock traded down $4.35 on Wednesday, reaching $56.14. 16,908,161 shares of the company were exchanged, compared to its average volume of 13,943,000. The company has a 50-day moving average of $57.10 and a 200-day moving average of $81.50. The company has a market cap of $76.88 billion, a price-to-earnings ratio of 54.95, a PEG ratio of 2.41 and a beta of 1.25. Chipotle Mexican Grill has a one year low of $38.01 and a one year high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last released 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. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.82 billion. Chipotle Mexican Grill had a net margin of 13.23% and a return on equity of 44.01%. The business’s revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.23 earnings per share. As a group, sell-side analysts predict that Chipotle Mexican Grill will post 1.08 EPS for the current year.

Insiders Place Their Bets

In other news, insider Curtis E. Garner sold 17,394 shares of Chipotle Mexican Grill 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 completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Curtis E. Garner sold 17,394 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $54.68, for a total value of $951,103.92. Following the transaction, the insider now owns 358,300 shares in the company, valued at $19,591,844. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Curtis E. Garner sold 15,750 shares of the stock in a transaction dated 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 directly owns 457,764 shares in the company, valued at $26,115,436.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,684 shares of company stock worth $2,817,127. 1.02% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Chipotle Mexican Grill

Large investors have recently bought and sold shares of the business. Shellback Capital LP boosted its stake in shares of Chipotle Mexican Grill by 4,900.0% in the 2nd quarter. Shellback Capital LP now owns 125,000 shares of the restaurant operator’s stock worth $7,831,000 after buying an additional 122,500 shares during the last quarter. Swedbank AB purchased a new position in shares of Chipotle Mexican Grill in the first quarter worth approximately $53,979,000. Transform Wealth LLC grew its position in Chipotle Mexican Grill by 4,760.7% during the second quarter. Transform Wealth LLC now owns 9,527 shares of the restaurant operator’s stock valued at $597,000 after buying an additional 9,331 shares during the period. Pathway Financial Advisers LLC increased its holdings in Chipotle Mexican Grill by 5,662.0% during the third quarter. Pathway Financial Advisers LLC now owns 8,643 shares of the restaurant operator’s stock valued at $498,000 after buying an additional 8,493 shares during the last quarter. Finally, First Hawaiian Bank raised its position in Chipotle Mexican Grill by 4,731.0% in the second quarter. First Hawaiian Bank now owns 17,150 shares of the restaurant operator’s stock worth $1,074,000 after acquiring an additional 16,795 shares during the period. 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.