Chipotle Mexican Grill (NYSE:CMG) Price Target Increased to $71.00 by Analysts at Citigroup

Chipotle Mexican Grill (NYSE:CMG) had its price target increased by equities research analysts at Citigroup from $69.00 to $71.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the restaurant operator’s stock. Citigroup’s target price points to a potential upside of 23.01% from the company’s current price.

Other analysts have also recently issued reports about the stock. Evercore ISI reduced their target price on shares of Chipotle Mexican Grill from $65.00 to $59.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $67.00 target price on shares of Chipotle Mexican Grill in a research report on Wednesday, August 14th. StockNews.com cut Chipotle Mexican Grill from a “buy” rating to a “hold” rating in a research report on Thursday, July 4th. BMO Capital Markets reduced their target price on Chipotle Mexican Grill from $57.00 to $55.00 and set a “market perform” rating for the company in a report on Thursday, July 25th. Finally, The Goldman Sachs Group lowered their price target on Chipotle Mexican Grill from $74.60 to $67.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Chipotle Mexican Grill has an average rating of “Moderate Buy” and an average price target of $62.44.

Chipotle Mexican Grill Stock Up 1.0 %

Shares of NYSE:CMG traded up $0.55 during trading on Wednesday, reaching $57.72. 4,721,335 shares of the company traded hands, compared to its average volume of 14,493,303. The firm has a fifty day simple moving average of $54.70 and a 200 day simple moving average of $81.40. Chipotle Mexican Grill has a 1-year low of $35.37 and a 1-year high of $69.26. The firm has a market cap of $79.27 billion, a P/E ratio of 61.21, a price-to-earnings-growth ratio of 2.43 and a beta of 1.25.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Wednesday, July 24th. The restaurant operator reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.02. The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.94 billion. Chipotle Mexican Grill had a return on equity of 44.01% and a net margin of 13.23%. The business’s revenue was up 18.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $12.65 EPS. As a group, research analysts anticipate that Chipotle Mexican Grill will post 1.08 EPS for the current year.

Insider Buying and Selling at Chipotle Mexican Grill

In other news, Director Robin S. Hickenlooper sold 1,790 shares of Chipotle Mexican Grill stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $56.38, for a total value of $100,920.20. Following the completion of the transaction, the director now owns 41,510 shares in the company, valued at $2,340,333.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Robin S. Hickenlooper sold 1,790 shares of the firm’s stock in a transaction 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 completion of the sale, the director now directly owns 41,510 shares in the company, valued at $2,340,333.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 transaction, the insider now owns 473,514 shares in the company, valued at approximately $26,052,740.28. The disclosure for this sale can be found here. Insiders have sold a total of 34,934 shares of company stock worth $1,918,589 over the last ninety days. Corporate insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. increased its position in Chipotle Mexican Grill by 4,732.3% in the second quarter. American Century Companies Inc. now owns 20,177,309 shares of the restaurant operator’s stock worth $1,264,109,000 after purchasing an additional 19,759,754 shares during the period. Legal & General Group Plc raised its stake in shares of Chipotle Mexican Grill by 5,209.5% during the second quarter. Legal & General Group Plc now owns 10,935,669 shares of the restaurant operator’s stock worth $685,128,000 after buying an additional 10,729,706 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Chipotle Mexican Grill by 5,930.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 10,310,132 shares of the restaurant operator’s stock worth $645,930,000 after buying an additional 10,139,174 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Chipotle Mexican Grill by 4,816.1% in the second quarter. Bank of New York Mellon Corp now owns 8,356,173 shares of the restaurant operator’s stock valued at $523,514,000 after buying an additional 8,186,198 shares during the period. Finally, Marshall Wace LLP boosted its stake in Chipotle Mexican Grill by 76,617.6% in the second quarter. Marshall Wace LLP now owns 5,904,952 shares of the restaurant operator’s stock valued at $369,945,000 after acquiring an additional 5,897,255 shares during the last quarter. 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.