Chipotle Mexican Grill’s (CMG) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Chipotle Mexican Grill (NYSE:CMG) in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has a $75.00 price objective on the restaurant operator’s stock.

Several other research analysts have also commented on the company. Raymond James boosted their price objective on Chipotle Mexican Grill from $66.00 to $72.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Jefferies Financial Group boosted their price target on shares of Chipotle Mexican Grill from $56.00 to $62.00 and gave the stock a “hold” rating in a research note on Monday, December 16th. Citigroup lowered their price objective on shares of Chipotle Mexican Grill from $70.00 to $69.00 and set a “buy” rating on the stock in a research report on Monday. Wedbush reiterated an “outperform” rating and issued a $69.00 target price on shares of Chipotle Mexican Grill in a research report on Wednesday, January 22nd. Finally, Piper Sandler raised their price target on Chipotle Mexican Grill from $59.00 to $60.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $66.88.

Chipotle Mexican Grill Stock Performance

Chipotle Mexican Grill stock opened at $58.97 on Tuesday. Chipotle Mexican Grill has a fifty-two week low of $47.98 and a fifty-two week high of $69.26. The stock has a market cap of $80.35 billion, a P/E ratio of 54.88, a PEG ratio of 1.88 and a beta of 1.27. The firm’s fifty day moving average price is $60.59 and its 200-day moving average price is $57.73.

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

Insider Activity at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Laurie Schalow sold 4,404 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $65.01, for a total value of $286,304.04. Following the completion of the transaction, the insider now directly owns 185,792 shares in the company, valued at approximately $12,078,337.92. This represents a 2.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.02% of the stock is owned by company insiders.

Hedge Funds Weigh In On Chipotle Mexican Grill

A number of institutional investors have recently bought and sold shares of CMG. ZRC Wealth Management LLC raised its position in shares of Chipotle Mexican Grill by 384.0% in the 3rd quarter. ZRC Wealth Management LLC now owns 484 shares of the restaurant operator’s stock worth $28,000 after acquiring an additional 384 shares in the last quarter. Transcendent Capital Group LLC raised its holdings in 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 purchasing an additional 475 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC purchased a new position in Chipotle Mexican Grill during the third quarter valued at $32,000. Capital Performance Advisors LLP bought a new stake in shares of Chipotle Mexican Grill during the 3rd quarter valued at $33,000. Finally, Global Trust Asset Management LLC purchased a new stake in shares of Chipotle Mexican Grill in the 3rd quarter worth about $35,000. 91.31% of the stock is owned by institutional investors.

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.