Chipotle Mexican Grill (NYSE:CMG) Price Target Raised to $783.00

Chipotle Mexican Grill (NYSE:CMG) had its target price lifted by equities researchers at Piper Jaffray Companies from $760.00 to $783.00 in a research note issued on Monday, May 20th, The Fly reports. The firm currently has an “overweight” rating on the restaurant operator’s stock. Piper Jaffray Companies’ price target would indicate a potential upside of 5.73% from the company’s current price. Piper Jaffray Companies also issued estimates for Chipotle Mexican Grill’s Q2 2019 earnings at $3.19 EPS, FY2019 earnings at $12.09 EPS, Q1 2020 earnings at $4.18 EPS, Q2 2020 earnings at $4.59 EPS, Q3 2020 earnings at $4.14 EPS, Q4 2020 earnings at $3.83 EPS, FY2020 earnings at $16.75 EPS and FY2021 earnings at $20.36 EPS.

A number of other equities analysts have also weighed in on the stock. BTIG Research increased their target price on shares of Chipotle Mexican Grill from $700.00 to $790.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Loop Capital increased their target price on shares of Chipotle Mexican Grill to $780.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Maxim Group reiterated a “hold” rating and set a $635.00 target price (up previously from $620.00) on shares of Chipotle Mexican Grill in a research report on Thursday, April 25th. BMO Capital Markets increased their price target on shares of Chipotle Mexican Grill from $540.00 to $675.00 and gave the stock a “market perform” rating in a report on Thursday, April 25th. Finally, Cowen reissued a “market perform” rating and issued a $660.00 price target (up from $640.00) on shares of Chipotle Mexican Grill in a report on Thursday, April 25th. Six analysts have rated the stock with a sell rating, fourteen have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $648.66.

Shares of Chipotle Mexican Grill stock traded up $8.30 during trading on Monday, reaching $740.59. 380,900 shares of the company traded hands, compared to its average volume of 664,222. Chipotle Mexican Grill has a 1-year low of $383.20 and a 1-year high of $749.24. The company has a quick ratio of 1.41, a current ratio of 1.44 and a debt-to-equity ratio of 1.69. The company has a market capitalization of $20.30 billion, a PE ratio of 81.74, a PEG ratio of 2.96 and a beta of 0.63.

Chipotle Mexican Grill (NYSE:CMG) last posted its earnings results on Wednesday, April 24th. The restaurant operator reported $3.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.01 by $0.39. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.27 billion. Chipotle Mexican Grill had a net margin of 4.08% and a return on equity of 19.78%. The business’s revenue was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.13 EPS. Sell-side analysts expect that Chipotle Mexican Grill will post 13 EPS for the current fiscal year.

In related news, CFO Jack Hartung sold 1,470 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $680.00, for a total transaction of $999,600.00. Following the completion of the transaction, the chief financial officer now directly owns 38,002 shares in the company, valued at approximately $25,841,360. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Scott Boatwright sold 1,805 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $740.22, for a total value of $1,336,097.10. Following the completion of the transaction, the insider now owns 8,869 shares of the company’s stock, valued at $6,565,011.18. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,832 shares of company stock valued at $13,294,768. Corporate insiders own 2.21% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of CMG. FMR LLC raised its holdings in shares of Chipotle Mexican Grill by 88.7% during the 1st quarter. FMR LLC now owns 1,143,585 shares of the restaurant operator’s stock worth $812,301,000 after acquiring an additional 537,677 shares in the last quarter. Norges Bank purchased a new stake in shares of Chipotle Mexican Grill during the 4th quarter worth approximately $104,491,000. Renaissance Technologies LLC raised its holdings in shares of Chipotle Mexican Grill by 17.7% during the 1st quarter. Renaissance Technologies LLC now owns 1,460,399 shares of the restaurant operator’s stock worth $1,037,336,000 after acquiring an additional 219,940 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Chipotle Mexican Grill by 40.1% during the 1st quarter. Wellington Management Group LLP now owns 716,351 shares of the restaurant operator’s stock worth $508,831,000 after acquiring an additional 204,895 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Chipotle Mexican Grill by 101.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 307,230 shares of the restaurant operator’s stock worth $132,659,000 after acquiring an additional 154,428 shares in the last quarter. 95.08% of the stock is currently owned by institutional investors and hedge funds.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill, Inc, together with its subsidiaries, operates Chipotle Mexican Grill restaurants. As of December 31, 2018, it operated 2,491 restaurants, including 2,452 Chipotle restaurants in the United States, 37 Chipotle restaurants internationally, and two non-Chipotle restaurants. The company was founded in 1993 and is headquartered in Newport Beach, California.

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Analyst Recommendations for Chipotle Mexican Grill (NYSE:CMG)

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