Evercore ISI Forecasts Strong Price Appreciation for Chipotle Mexican Grill (NYSE:CMG) Stock

Chipotle Mexican Grill (NYSE:CMG) had its price target raised by stock analysts at Evercore ISI from $70.00 to $72.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the restaurant operator’s stock. Evercore ISI’s target price suggests a potential upside of 10.14% from the company’s previous close.

Several other equities research analysts also recently issued reports on the company. Oppenheimer reiterated an “outperform” rating and issued a $65.00 price objective on shares of Chipotle Mexican Grill in a report on Monday, September 30th. Stifel Nicolaus reiterated a “buy” rating and set a $70.00 price target on shares of Chipotle Mexican Grill in a research note on Wednesday, August 14th. Piper Sandler raised their price objective 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. Loop Capital upped their target price 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. Finally, Citigroup reduced their target price on shares of Chipotle Mexican Grill from $71.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $65.42.

Chipotle Mexican Grill Price Performance

Shares of CMG stock opened at $65.37 on Thursday. Chipotle Mexican Grill has a 1-year low of $44.08 and a 1-year high of $69.26. The firm has a market cap of $89.07 billion, a PE ratio of 61.09, a price-to-earnings-growth ratio of 2.45 and a beta of 1.27. The company has a 50-day moving average of $59.25 and a two-hundred day moving average of $80.84.

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

Insider Activity at Chipotle Mexican Grill

In related news, insider Curtis E. Garner sold 15,750 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $57.05, for a total value of $898,537.50. Following the completion of the sale, the insider now directly owns 457,764 shares of the company’s stock, valued at $26,115,436.20. This represents a 3.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robin S. Hickenlooper sold 1,790 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 41,510 shares in the company, valued at $2,340,333.80. This represents a 4.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,290 shares of company stock valued at $1,866,023 in the last ninety days. Insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

Institutional investors have recently modified their holdings of the business. Retirement Systems of Alabama grew its position in Chipotle Mexican Grill by 29.8% during the 3rd quarter. Retirement Systems of Alabama now owns 1,196,083 shares of the restaurant operator’s stock worth $68,918,000 after purchasing an additional 274,533 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new stake in shares of Chipotle Mexican Grill during the third quarter worth about $432,000. American Trust purchased a new position in shares of Chipotle Mexican Grill during the third quarter worth about $756,000. Old North State Trust LLC increased its position in Chipotle Mexican Grill by 1.8% in the 3rd quarter. Old North State Trust LLC now owns 22,549 shares of the restaurant operator’s stock valued at $1,299,000 after acquiring an additional 399 shares during the period. Finally, Franklin Resources Inc. raised its stake in Chipotle Mexican Grill by 2.9% during the 3rd quarter. Franklin Resources Inc. now owns 13,661,937 shares of the restaurant operator’s stock valued at $805,692,000 after acquiring an additional 381,873 shares during the last quarter. 91.31% of the stock is owned by institutional investors and hedge funds.

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.