Chipotle Mexican Grill (NYSE:CMG) Coverage Initiated by Analysts at Royal Bank of Canada

Royal Bank of Canada initiated coverage on shares of Chipotle Mexican Grill (NYSE:CMG) in a report published on Friday, MarketBeat Ratings reports. The firm issued an outperform rating and a $70.00 price objective on the restaurant operator’s stock.

CMG has been the topic of a number of other research reports. Guggenheim upped their price target on Chipotle Mexican Grill from $54.50 to $55.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. BMO Capital Markets upped their price objective on shares of Chipotle Mexican Grill from $55.00 to $56.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Wells Fargo & Company lifted their target price on shares of Chipotle Mexican Grill from $66.00 to $67.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Oppenheimer restated an “outperform” rating and set a $65.00 price target on shares of Chipotle Mexican Grill in a research note on Monday, September 30th. Finally, Loop Capital lifted their price objective on shares of Chipotle Mexican Grill from $53.00 to $58.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.27.

Chipotle Mexican Grill Stock Performance

CMG opened at $58.84 on Friday. Chipotle Mexican Grill has a fifty-two week low of $43.20 and a fifty-two week high of $69.26. The firm has a 50-day moving average of $58.11 and a 200 day moving average of $81.28. The firm has a market cap of $80.17 billion, a P/E ratio of 54.77, a PEG ratio of 2.36 and a beta of 1.26.

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

Insider Buying and Selling at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, Director Robin S. Hickenlooper sold 1,790 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $56.38, for a total transaction of $100,920.20. Following the transaction, the director now directly owns 41,510 shares in the company, valued at $2,340,333.80. This trade represents a 4.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Curtis E. Garner sold 15,750 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $57.05, for a total transaction of $898,537.50. Following the completion of the sale, the insider now owns 457,764 shares of the company’s stock, valued at approximately $26,115,436.20. The trade was a 3.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,290 shares of company stock worth $1,866,023 over the last 90 days. Corporate insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. bought a new position in Chipotle Mexican Grill during the 2nd quarter worth approximately $25,000. Riverview Trust Co boosted its stake in shares of Chipotle Mexican Grill by 4,900.0% during the second quarter. Riverview Trust Co now owns 400 shares of the restaurant operator’s stock valued at $25,000 after purchasing an additional 392 shares during the period. RiverPark Advisors LLC grew its holdings in shares of Chipotle Mexican Grill by 4,900.0% in the second quarter. RiverPark Advisors LLC now owns 400 shares of the restaurant operator’s stock worth $25,000 after purchasing an additional 392 shares during the last quarter. Archer Investment Corp purchased a new position in shares of Chipotle Mexican Grill in the second quarter worth $25,000. Finally, Oliver Lagore Vanvalin Investment Group raised its holdings in Chipotle Mexican Grill by 4,900.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the restaurant operator’s stock valued at $25,000 after buying an additional 392 shares during the last quarter. 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.