Truist Financial Raises Chipotle Mexican Grill (NYSE:CMG) Price Target to $71.00

Chipotle Mexican Grill (NYSE:CMG) had its price objective upped by research analysts at Truist Financial from $69.00 to $71.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the restaurant operator’s stock. Truist Financial’s price objective suggests a potential upside of 19.45% from the company’s current price.

Other equities analysts have also issued research reports about the company. Barclays lowered their price objective on Chipotle Mexican Grill from $58.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 25th. Oppenheimer reissued an “outperform” rating and issued a $65.00 price objective on shares of Chipotle Mexican Grill in a report on Monday, September 30th. Evercore ISI lifted their target price on shares of Chipotle Mexican Grill from $59.00 to $70.00 and gave the stock an “outperform” rating in a research note on Tuesday. Wedbush reiterated an “outperform” rating and issued a $58.00 target price on shares of Chipotle Mexican Grill in a report on Thursday, August 29th. Finally, Loop Capital reduced their price target on shares of Chipotle Mexican Grill from $58.00 to $53.00 and set a “hold” rating on the stock in a research report on Thursday, July 25th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $63.03.

Chipotle Mexican Grill Stock Performance

Shares of CMG stock opened at $59.44 on Tuesday. Chipotle Mexican Grill has a fifty-two week low of $35.58 and a fifty-two week high of $69.26. The stock’s fifty day moving average is $55.74 and its two-hundred day moving average is $81.41. The firm has a market capitalization of $81.63 billion, a P/E ratio of 63.06, a PEG ratio of 2.41 and a beta of 1.25.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings data on Wednesday, July 24th. The restaurant operator reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.94 billion. Chipotle Mexican Grill had a net margin of 13.23% and a return on equity of 44.01%. Chipotle Mexican Grill’s quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $12.65 EPS. On average, equities analysts forecast that Chipotle Mexican Grill will post 1.08 earnings per share for the current year.

Insider Activity at Chipotle Mexican Grill

In related news, Director Robin S. Hickenlooper sold 1,790 shares of Chipotle Mexican Grill stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $56.38, for a total transaction of $100,920.20. Following the completion of the transaction, the director now directly owns 41,510 shares of the company’s stock, valued at approximately $2,340,333.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Robin S. Hickenlooper sold 1,790 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $56.38, for a total value of $100,920.20. Following the sale, the director now owns 41,510 shares of the company’s stock, valued at approximately $2,340,333.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Curtis E. Garner sold 17,394 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $54.68, for a total value of $951,103.92. Following the completion of the transaction, the insider now directly owns 358,300 shares of the company’s stock, valued at approximately $19,591,844. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,684 shares of company stock worth $2,817,127 over the last 90 days. Company insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

Several institutional investors and hedge funds have recently modified their holdings of CMG. Hazlett Burt & Watson Inc. boosted its holdings in shares of Chipotle Mexican Grill by 19.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 25 shares of the restaurant operator’s stock worth $73,000 after purchasing an additional 4 shares during the last quarter. Diversified Trust Co grew its holdings in Chipotle Mexican Grill by 0.9% in the 1st quarter. Diversified Trust Co now owns 474 shares of the restaurant operator’s stock valued at $1,378,000 after buying an additional 4 shares during the period. Valley National Advisers Inc. increased its stake in shares of Chipotle Mexican Grill by 9.8% during the 1st quarter. Valley National Advisers Inc. now owns 45 shares of the restaurant operator’s stock valued at $131,000 after acquiring an additional 4 shares during the last quarter. Scott & Selber Inc. lifted its holdings in shares of Chipotle Mexican Grill by 0.6% during the 1st quarter. Scott & Selber Inc. now owns 720 shares of the restaurant operator’s stock worth $2,093,000 after acquiring an additional 4 shares during the period. Finally, Quent Capital LLC grew its holdings in Chipotle Mexican Grill by 2.0% in the first quarter. Quent Capital LLC now owns 206 shares of the restaurant operator’s stock valued at $599,000 after purchasing an additional 4 shares during the period. Hedge funds and other institutional investors own 91.31% of the company’s stock.

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.