Chipotle Mexican Grill (NYSE:CMG) Upgraded to “Outperform” at Raymond James

Raymond James upgraded shares of Chipotle Mexican Grill (NYSE:CMG) from a market perform rating to an outperform rating in a report issued on Monday morning, Analyst Price Targets reports. They currently have $1,800.00 price objective on the restaurant operator’s stock.

CMG has been the subject of a number of other research reports. KeyCorp boosted their price target on Chipotle Mexican Grill from $1,475.00 to $1,625.00 and gave the stock an overweight rating in a research report on Friday, January 29th. The Goldman Sachs Group initiated coverage on Chipotle Mexican Grill in a report on Tuesday, January 19th. They issued a buy rating and a $1,650.00 price objective for the company. Royal Bank of Canada upgraded Chipotle Mexican Grill from a sector perform rating to an outperform rating and upped their price objective for the company from $1,320.00 to $1,650.00 in a report on Thursday, January 14th. Truist Securities boosted their target price on Chipotle Mexican Grill from $1,700.00 to $1,750.00 and gave the stock a buy rating in a research report on Tuesday, April 6th. Finally, Northcoast Research raised Chipotle Mexican Grill from a neutral rating to a buy rating and set a $1,827.00 target price on the stock in a research report on Tuesday, February 9th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-one have issued a buy rating to the stock. Chipotle Mexican Grill presently has a consensus rating of Buy and a consensus price target of $1,543.68.

Shares of NYSE CMG opened at $1,542.39 on Monday. Chipotle Mexican Grill has a twelve month low of $758.60 and a twelve month high of $1,579.52. The company has a market capitalization of $43.47 billion, a price-to-earnings ratio of 184.50, a price-to-earnings-growth ratio of 3.21 and a beta of 1.31. The business has a 50 day simple moving average of $1,445.75 and a 200-day simple moving average of $1,383.61.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings results on Monday, February 1st. The restaurant operator reported $3.48 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.73 by ($0.25). Chipotle Mexican Grill had a net margin of 4.08% and a return on equity of 16.70%. The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter last year, the firm posted $2.86 earnings per share. Chipotle Mexican Grill’s revenue was up 11.6% compared to the same quarter last year. Research analysts forecast that Chipotle Mexican Grill will post 10.96 EPS for the current year.

In other Chipotle Mexican Grill news, insider Scott Boatwright sold 5,822 shares of the business’s stock in a transaction dated Thursday, February 4th. The shares were sold at an average price of $1,497.75, for a total value of $8,719,900.50. Following the completion of the transaction, the insider now directly owns 9,551 shares of the company’s stock, valued at $14,305,010.25. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Brian R. Niccol sold 4,757 shares of the business’s stock in a transaction that occurred on Monday, March 8th. The stock was sold at an average price of $1,311.22, for a total transaction of $6,237,473.54. Following the sale, the chief executive officer now directly owns 47,044 shares of the company’s stock, valued at $61,685,033.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,335 shares of company stock valued at $28,243,141. Insiders own 1.00% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Citizens & Northern Corp raised its stake in shares of Chipotle Mexican Grill by 0.6% during the fourth quarter. Citizens & Northern Corp now owns 1,096 shares of the restaurant operator’s stock worth $1,520,000 after buying an additional 7 shares during the last quarter. Assetmark Inc. raised its stake in shares of Chipotle Mexican Grill by 22.6% during the fourth quarter. Assetmark Inc. now owns 38 shares of the restaurant operator’s stock worth $53,000 after buying an additional 7 shares during the last quarter. Veritable L.P. raised its stake in shares of Chipotle Mexican Grill by 1.2% during the fourth quarter. Veritable L.P. now owns 615 shares of the restaurant operator’s stock worth $853,000 after buying an additional 7 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of Chipotle Mexican Grill by 8.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 93 shares of the restaurant operator’s stock worth $129,000 after buying an additional 7 shares during the last quarter. Finally, Calamos Wealth Management LLC raised its stake in shares of Chipotle Mexican Grill by 1.4% during the first quarter. Calamos Wealth Management LLC now owns 505 shares of the restaurant operator’s stock worth $718,000 after buying an additional 7 shares during the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. As of December 31, 2020, it owned and operated 2,724 Chipotle restaurants in the United States, 40 international Chipotle restaurants, and 4 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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