Chipotle Mexican Grill (NYSE:CMG) Research Coverage Started at Royal Bank of Canada

Royal Bank of Canada started coverage on shares of Chipotle Mexican Grill (NYSE:CMG) in a report published on Friday morning, MarketBeat reports. The firm issued an outperform rating and a $70.00 price objective on the restaurant operator’s stock.

A number of other research firms have also recently weighed in on CMG. Piper Sandler lifted their target price on shares of Chipotle Mexican Grill from $59.00 to $60.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Wells Fargo & Company lifted their target price on shares of Chipotle Mexican Grill from $66.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Guggenheim boosted their price target on shares of Chipotle Mexican Grill from $54.50 to $55.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Stephens reiterated an “equal weight” rating and issued a $65.00 price target on shares of Chipotle Mexican Grill in a research note on Tuesday, November 12th. Finally, Loop Capital boosted 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. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $65.27.

Chipotle Mexican Grill Price Performance

Shares of Chipotle Mexican Grill stock opened at $58.63 on Friday. Chipotle Mexican Grill has a 1-year low of $43.10 and a 1-year high of $69.26. The company’s fifty day simple moving average is $58.02 and its 200-day simple moving average is $81.31. The stock has a market capitalization of $79.89 billion, a PE ratio of 54.57, a P/E/G ratio of 2.36 and a beta of 1.26.

Chipotle Mexican Grill (NYSE:CMG) last released its earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. Chipotle Mexican Grill had a net margin of 13.51% and a return on equity of 43.20%. The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter in the previous year, the company earned $0.23 EPS. Chipotle Mexican Grill’s revenue for the quarter was up 13.0% on a year-over-year basis. As a group, research analysts anticipate that Chipotle Mexican Grill will post 1.11 EPS for the current year.

Insider Activity at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, Director Robin S. Hickenlooper sold 1,790 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $56.38, for a total value of $100,920.20. Following the transaction, the director now directly owns 41,510 shares in the company, valued at $2,340,333.80. This represents a 4.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Curtis E. Garner sold 15,750 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $55.02, for a total transaction of $866,565.00. Following the completion of the transaction, the insider now owns 473,514 shares in the company, valued at $26,052,740.28. This represents a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,290 shares of company stock worth $1,866,023. Insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

A number of hedge funds have recently added to or reduced their stakes in CMG. Thurston Springer Miller Herd & Titak Inc. bought a new position in Chipotle Mexican Grill in the 2nd quarter worth about $25,000. Riverview Trust Co lifted its position in shares of Chipotle Mexican Grill by 4,900.0% in the 2nd quarter. Riverview Trust Co now owns 400 shares of the restaurant operator’s stock worth $25,000 after purchasing an additional 392 shares during the period. RiverPark Advisors LLC lifted its position in shares of Chipotle Mexican Grill by 4,900.0% in the 2nd quarter. RiverPark Advisors LLC now owns 400 shares of the restaurant operator’s stock worth $25,000 after purchasing an additional 392 shares during the period. Archer Investment Corp purchased a new stake in shares of Chipotle Mexican Grill in the 2nd quarter worth approximately $25,000. Finally, Oliver Lagore Vanvalin Investment Group lifted its position in shares of Chipotle Mexican Grill by 4,900.0% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the restaurant operator’s stock worth $25,000 after purchasing an additional 392 shares during the period. 91.31% of the stock is currently owned by institutional investors.

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.