Chipotle Mexican Grill (NYSE:CMG) Price Target Raised to $3,600.00 at Evercore ISI

Chipotle Mexican Grill (NYSE:CMG) had its price target raised by equities research analysts at Evercore ISI from $3,200.00 to $3,600.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the restaurant operator’s stock. Evercore ISI’s price target points to a potential upside of 12.87% from the stock’s current price.

A number of other analysts also recently issued reports on the stock. Stephens lifted their price objective on shares of Chipotle Mexican Grill from $3,010.00 to $3,050.00 and gave the company an “equal weight” rating in a report on Thursday. Stifel Nicolaus lifted their price objective on shares of Chipotle Mexican Grill from $2,700.00 to $3,270.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Deutsche Bank Aktiengesellschaft lifted 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. Wedbush lifted their price objective on shares of Chipotle Mexican Grill from $2,850.00 to $3,200.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Oppenheimer reiterated an “outperform” rating and issued a $3,300.00 price objective (up from $2,825.00) on shares of Chipotle Mexican Grill in a report on Thursday. Ten research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $3,137.12.

Chipotle Mexican Grill Stock Performance

Shares of CMG stock opened at $3,189.40 on Thursday. The company has a market capitalization of $87.60 billion, a P/E ratio of 68.06, a price-to-earnings-growth ratio of 2.48 and a beta of 1.28. The company’s 50 day moving average price is $2,822.95 and its two-hundred day moving average price is $2,426.07. Chipotle Mexican Grill has a 52 week low of $1,768.64 and a 52 week high of $3,199.99.

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

Chipotle Mexican Grill (NYSE:CMG) last announced its earnings results on Wednesday, April 24th. The restaurant operator reported $13.37 EPS for the quarter, topping the consensus estimate of $11.63 by $1.74. The firm had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.67 billion. Chipotle Mexican Grill had a net margin of 12.70% and a return on equity of 45.46%. Analysts forecast that Chipotle Mexican Grill will post 53.49 earnings per share for the current year.

Insider Activity

In other news, CEO Brian R. Niccol sold 1,996 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 22,447 shares of the company’s stock, valued at $53,870,779.77. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Brian R. Niccol sold 1,996 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 22,447 shares of the company’s stock, valued at $53,870,779.77. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Roger E. Theodoredis sold 898 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $2,622.25, for a total transaction of $2,354,780.50. Following the completion of the sale, the insider now directly owns 1,529 shares of the company’s stock, valued at approximately $4,009,420.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,793 shares of company stock valued at $18,321,152. 0.96% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CMG. IFP Advisors Inc raised its stake in Chipotle Mexican Grill by 13.6% in the third quarter. IFP Advisors Inc now owns 134 shares of the restaurant operator’s stock valued at $245,000 after purchasing an additional 16 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new position in Chipotle Mexican Grill in the third quarter valued at about $203,000. DAVENPORT & Co LLC raised its stake in Chipotle Mexican Grill by 9.4% in the third quarter. DAVENPORT & Co LLC now owns 291 shares of the restaurant operator’s stock valued at $533,000 after purchasing an additional 25 shares in the last quarter. Meridian Wealth Management LLC raised its stake in Chipotle Mexican Grill by 291.2% in the third quarter. Meridian Wealth Management LLC now owns 442 shares of the restaurant operator’s stock valued at $810,000 after purchasing an additional 329 shares in the last quarter. Finally, Caprock Group LLC raised its stake in Chipotle Mexican Grill by 4.0% in the third quarter. Caprock Group LLC now owns 208 shares of the restaurant operator’s stock valued at $381,000 after purchasing an additional 8 shares in the last quarter. Institutional investors and hedge funds own 91.31% of the company’s stock.

About Chipotle Mexican Grill

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.