Chipotle Mexican Grill (NYSE:CMG) Stock Price Up 1% on Analyst Upgrade

Chipotle Mexican Grill, Inc. (NYSE:CMG) was up 1% during mid-day trading on Thursday after Evercore ISI raised their price target on the stock from $2,900.00 to $3,200.00. Evercore ISI currently has an outperform rating on the stock. Chipotle Mexican Grill traded as high as $2,932.92 and last traded at $2,931.49. Approximately 33,146 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 228,900 shares. The stock had previously closed at $2,902.96.

Several other analysts have also weighed in on the company. TD Cowen reaffirmed a “buy” rating and issued a $2,900.00 price objective on shares of Chipotle Mexican Grill in a research note on Wednesday, April 10th. KeyCorp raised their target price on Chipotle Mexican Grill from $2,750.00 to $3,250.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Chipotle Mexican Grill from $3,100.00 to $3,300.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Oppenheimer boosted their price target on shares of Chipotle Mexican Grill from $2,225.00 to $2,525.00 and gave the company an “outperform” rating in a research note on Friday, January 5th. Finally, Wells Fargo & Company raised their price objective on shares of Chipotle Mexican Grill from $2,600.00 to $2,800.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. Eleven equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Chipotle Mexican Grill currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,759.14.

Insiders Place Their Bets

In other Chipotle Mexican Grill news, CEO Brian R. Niccol sold 1,996 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $2,399.91, for a total value of $4,790,220.36. Following the completion of the transaction, the chief executive officer now owns 22,447 shares of the company’s stock, valued at approximately $53,870,779.77. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider Roger E. Theodoredis sold 898 shares of Chipotle Mexican Grill stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $2,622.25, for a total value of $2,354,780.50. Following the transaction, the insider now owns 1,529 shares in the company, valued at approximately $4,009,420.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brian R. Niccol sold 1,996 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $2,399.91, for a total transaction of $4,790,220.36. Following the sale, the chief executive officer now owns 22,447 shares of the company’s stock, valued at $53,870,779.77. The disclosure for this sale can be found here. Insiders have sold 6,793 shares of company stock worth $18,321,152 in the last ninety days. 0.96% of the stock is currently owned by insiders.

Institutional Trading of Chipotle Mexican Grill

Several hedge funds and other institutional investors have recently bought and sold shares of CMG. Steph & Co. purchased a new position in Chipotle Mexican Grill during the 1st quarter valued at $29,000. Fortitude Family Office LLC bought a new position in shares of Chipotle Mexican Grill in the 4th quarter worth approximately $32,000. Coppell Advisory Solutions LLC purchased a new position in shares of Chipotle Mexican Grill in the 2nd quarter valued at approximately $32,000. IMA Wealth Inc. boosted its position in shares of Chipotle Mexican Grill by 185.7% during the first quarter. IMA Wealth Inc. now owns 20 shares of the restaurant operator’s stock valued at $34,000 after purchasing an additional 13 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in shares of Chipotle Mexican Grill during the fourth quarter valued at approximately $37,000. Institutional investors own 91.31% of the company’s stock.

Chipotle Mexican Grill Stock Up 0.2 %

The firm has a market cap of $79.74 billion, a P/E ratio of 65.57, a P/E/G ratio of 2.51 and a beta of 1.28. The business has a fifty day simple moving average of $2,778.61 and a 200-day simple moving average of $2,378.70.

Shares of Chipotle Mexican Grill are going to split on the morning of Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly minted shares will be issued to shareholders after the closing bell on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Tuesday, February 6th. The restaurant operator reported $10.36 earnings per share for the quarter, topping analysts’ consensus estimates of $9.73 by $0.63. Chipotle Mexican Grill had a return on equity of 44.41% and a net margin of 12.45%. The business had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the previous year, the firm earned $8.29 EPS. Chipotle Mexican Grill’s revenue was up 15.4% on a year-over-year basis. On average, sell-side analysts anticipate that Chipotle Mexican Grill, Inc. will post 53.41 EPS for the current fiscal year.

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.