Chipotle Mexican Grill (NYSE:CMG) Price Target Raised to $62.00

Chipotle Mexican Grill (NYSE:CMG) had its target price raised by Robert W. Baird from $58.00 to $62.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the restaurant operator’s stock.

A number of other equities research analysts have also weighed in on the stock. Loop Capital lowered their target price on shares of Chipotle Mexican Grill from $65.00 to $63.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Stephens restated an “equal weight” rating and issued a $49.00 target price on shares of Chipotle Mexican Grill in a report on Monday, June 9th. Evercore ISI lowered their target price on shares of Chipotle Mexican Grill from $64.00 to $57.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Morgan Stanley lowered their target price on shares of Chipotle Mexican Grill from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. Finally, KeyCorp lowered their target price on shares of Chipotle Mexican Grill from $60.00 to $58.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. Nine research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Chipotle Mexican Grill has an average rating of “Moderate Buy” and an average target price of $60.93.

Chipotle Mexican Grill Trading Up 0.7%

Shares of NYSE CMG opened at $57.16 on Wednesday. The firm’s 50-day moving average price is $52.07 and its 200-day moving average price is $53.38. Chipotle Mexican Grill has a 1-year low of $44.46 and a 1-year high of $66.74. The firm has a market capitalization of $77.01 billion, a P/E ratio of 50.58, a P/E/G ratio of 2.83 and a beta of 1.08.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data on Wednesday, April 23rd. The restaurant operator reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.01. Chipotle Mexican Grill had a net margin of 13.59% and a return on equity of 43.29%. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same quarter in the prior year, the business earned $13.37 earnings per share. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. Equities research analysts forecast that Chipotle Mexican Grill will post 1.29 EPS for the current year.

Insider Buying and Selling at Chipotle Mexican Grill

In other news, insider Roger E. Theodoredis sold 113,875 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $49.70, for a total transaction of $5,659,587.50. Following the completion of the transaction, the insider directly owned 109,815 shares of the company’s stock, valued at $5,457,805.50. This represents a 50.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.81% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Cloud Capital Management LLC bought a new position in shares of Chipotle Mexican Grill during the 1st quarter valued at approximately $25,000. Saudi Central Bank purchased a new stake in shares of Chipotle Mexican Grill during the 1st quarter valued at approximately $27,000. 1248 Management LLC purchased a new stake in shares of Chipotle Mexican Grill during the 1st quarter valued at approximately $27,000. HighMark Wealth Management LLC lifted its stake in shares of Chipotle Mexican Grill by 173.4% during the 1st quarter. HighMark Wealth Management LLC now owns 585 shares of the restaurant operator’s stock valued at $29,000 after buying an additional 371 shares in the last quarter. Finally, North Capital Inc. purchased a new stake in shares of Chipotle Mexican Grill during the 1st quarter valued at approximately $30,000. 91.31% of the stock is owned by institutional investors.

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.