Chipotle Mexican Grill (NYSE:CMG) Given “Outperform” Rating at Wedbush

Chipotle Mexican Grill (NYSE:CMG)‘s stock had its “outperform” rating reaffirmed by Wedbush in a report issued on Wednesday,Benzinga reports. They presently have a $69.00 price objective on the restaurant operator’s stock. Wedbush’s price objective indicates a potential upside of 22.79% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Piper Sandler increased their price target on Chipotle Mexican Grill from $59.00 to $60.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Stephens reaffirmed an “equal weight” rating and set a $65.00 price objective on shares of Chipotle Mexican Grill in a research note on Tuesday, November 12th. Wells Fargo & Company boosted their target price on shares of Chipotle Mexican Grill from $67.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. Truist Financial boosted their price objective on shares of Chipotle Mexican Grill from $72.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Loop Capital lifted their target price on Chipotle Mexican Grill from $53.00 to $58.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $66.81.

Chipotle Mexican Grill Stock Performance

Shares of CMG opened at $56.19 on Wednesday. The stock has a market capitalization of $76.57 billion, a P/E ratio of 52.30, a P/E/G ratio of 1.94 and a beta of 1.27. Chipotle Mexican Grill has a 1 year low of $46.01 and a 1 year high of $69.26. The company’s fifty day moving average is $60.88 and its two-hundred day moving average is $57.80.

Chipotle Mexican Grill (NYSE:CMG) last posted 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 firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same period in the prior year, the company posted $0.23 earnings per share. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. Sell-side analysts predict that Chipotle Mexican Grill will post 1.11 EPS for the current year.

Insider Transactions at Chipotle Mexican Grill

In other news, insider Laurie Schalow sold 4,404 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $65.01, for a total transaction of $286,304.04. Following the completion of the transaction, the insider now owns 185,792 shares in the company, valued at approximately $12,078,337.92. This trade represents a 2.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Oliver Lagore Vanvalin Investment Group raised its position in shares of Chipotle Mexican Grill by 4,900.0% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the restaurant operator’s stock worth $25,000 after purchasing an additional 392 shares during the period. ZRC Wealth Management LLC lifted its stake in Chipotle Mexican Grill by 384.0% during the third quarter. ZRC Wealth Management LLC now owns 484 shares of the restaurant operator’s stock valued at $28,000 after buying an additional 384 shares in the last quarter. Transcendent Capital Group LLC boosted its holdings in shares of Chipotle Mexican Grill by 950.0% in the third quarter. Transcendent Capital Group LLC now owns 525 shares of the restaurant operator’s stock worth $30,000 after buying an additional 475 shares during the period. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Chipotle Mexican Grill in the third quarter worth approximately $32,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Chipotle Mexican Grill during the third quarter valued at approximately $33,000. Institutional investors and hedge funds own 91.31% of the company’s stock.

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.