Wunderlich Increases Chipotle Mexican Grill Price Target to $500.00 (CMG)
Equities researchers at Wunderlich hoisted their price objective on shares of Chipotle Mexican Grill (NYSE:CMG) from $430.00 to $500.00 in a research report issued on Friday, Stock Ratings Network.com reports. The firm currently has a “buy” rating on the stock. Wunderlich’s price target indicates a potential upside of 13.88% from the stock’s previous close.
In other Chipotle Mexican Grill news, CEO Montgomery Moran sold 3,830 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $444.09, for a total value of $1,700,864.70. Following the completion of the sale, the chief executive officer now directly owns 133,837 shares in the company, valued at approximately $59,435,673. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Chipotle Mexican Grill (NYSE:CMG) opened at 439.07 on Friday. Chipotle Mexican Grill has a 52-week low of $233.82 and a 52-week high of $447.65. The stock has a 50-day moving average of $423.2 and a 200-day moving average of $386.2. The company has a market cap of $13.554 billion and a price-to-earnings ratio of 46.31. Chipotle Mexican Grill also was the recipient of some unusual options trading activity on Thursday. Investors purchased 21,925 put options on the stock. This is an increase of 362% compared to the average daily volume of 4,743 put options.
Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings data on Thursday, October 17th. The company reported $2.66 earnings per share for the quarter, missing the analysts’ consensus estimate of $2.77 by $0.11. The company had revenue of $826.90 million for the quarter, compared to the consensus estimate of $820.28 million. During the same quarter last year, the company posted $2.27 earnings per share. Chipotle Mexican Grill’s revenue was up 18.0% compared to the same quarter last year. Analysts expect that Chipotle Mexican Grill will post $10.61 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Jefferies Group reiterated a “hold” rating on shares of Chipotle Mexican Grill in a research note to investors on Friday. They now have a $435.00 price target on the stock, up previously from $410.00. Separately, analysts at Miller Tabak raised their price target on shares of Chipotle Mexican Grill from $472.00 to $490.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Finally, analysts at Wedbush raised their price target on shares of Chipotle Mexican Grill from $435.00 to $490.00 in a research note to investors on Tuesday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the stock. Chipotle Mexican Grill currently has an average rating of “Hold” and a consensus price target of $426.61.
Chipotle Mexican Grill, Inc and its subsidiaries (NYSE:CMG) operate restaurants throughout the United States, as well as two restaurants in Toronto, Canada and two in London, England.
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