Chipotle Mexican Grill’s (CMG) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Chipotle Mexican Grill (NYSE:CMG) in a research note released on Tuesday,Benzinga reports. They currently have a $75.00 price target on the restaurant operator’s stock.

A number of other brokerages have also commented on CMG. Loop Capital lifted their price target on shares of Chipotle Mexican Grill from $53.00 to $58.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Jefferies Financial Group raised their price target on Chipotle Mexican Grill from $56.00 to $62.00 and gave the stock a “hold” rating in a research note on Monday, December 16th. Evercore ISI increased their target price on Chipotle Mexican Grill from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, December 5th. Robert W. Baird boosted their price target on Chipotle Mexican Grill from $62.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Piper Sandler increased their price objective on shares of Chipotle Mexican Grill from $59.00 to $60.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Chipotle Mexican Grill presently has an average rating of “Moderate Buy” and a consensus target price of $66.88.

Chipotle Mexican Grill Stock Performance

Shares of NYSE CMG opened at $58.97 on Tuesday. The company has a market cap of $80.35 billion, a PE ratio of 54.88, a P/E/G ratio of 1.88 and a beta of 1.27. The firm’s 50 day moving average price is $60.59 and its 200-day moving average price is $57.73. Chipotle Mexican Grill has a 52-week low of $47.98 and a 52-week high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last posted its earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same quarter last year, the company earned $0.23 EPS. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. On average, analysts forecast that Chipotle Mexican Grill will post 1.11 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Laurie Schalow sold 4,404 shares of the 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 of the company’s stock, valued at $12,078,337.92. This represents a 2.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.02% of the company’s stock.

Institutional Investors Weigh In On Chipotle Mexican Grill

A number of institutional investors and hedge funds have recently modified their holdings of the business. Hantz Financial Services Inc. lifted its position in shares of Chipotle Mexican Grill by 5,897.8% during the third quarter. Hantz Financial Services Inc. now owns 48,942 shares of the restaurant operator’s stock worth $2,820,000 after purchasing an additional 48,126 shares during the last quarter. L & S Advisors Inc bought a new stake in Chipotle Mexican Grill during the 3rd quarter valued at about $3,256,000. Optas LLC boosted its position in Chipotle Mexican Grill by 318.5% in the 3rd quarter. Optas LLC now owns 17,160 shares of the restaurant operator’s stock valued at $989,000 after buying an additional 13,060 shares during the period. Harrell Investment Partners LLC bought a new position in Chipotle Mexican Grill in the 4th quarter worth about $2,513,000. Finally, Savvy Advisors Inc. purchased a new position in shares of Chipotle Mexican Grill during the third quarter worth approximately $758,000. 91.31% of the stock is owned by institutional investors.

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.