Royal Bank of Canada Forecasts Strong Price Appreciation for Chipotle Mexican Grill (NYSE:CMG) Stock

Chipotle Mexican Grill (NYSE:CMG) had its price objective boosted by Royal Bank of Canada from $70.00 to $75.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the restaurant operator’s stock. Royal Bank of Canada’s price target suggests a potential upside of 22.27% from the stock’s current price.

A number of other research firms have also recently weighed in on CMG. Oppenheimer reaffirmed an “outperform” rating and set a $65.00 price objective on shares of Chipotle Mexican Grill in a research report on Monday, September 30th. Robert W. Baird lifted their price target on shares of Chipotle Mexican Grill from $62.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Citigroup reduced their price objective on shares of Chipotle Mexican Grill from $71.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Jefferies Financial Group lifted their target price on shares of Chipotle Mexican Grill from $56.00 to $62.00 and gave the company a “hold” rating in a research note on Monday. Finally, Wells Fargo & Company increased their price target on Chipotle Mexican Grill from $67.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, Chipotle Mexican Grill has an average rating of “Moderate Buy” and a consensus target price of $66.55.

Chipotle Mexican Grill Trading Down 4.6 %

CMG opened at $61.34 on Tuesday. The firm’s 50 day simple moving average is $60.56 and its two-hundred day simple moving average is $81.08. The company has a market capitalization of $83.58 billion, a PE ratio of 57.09, a PEG ratio of 2.64 and a beta of 1.27. Chipotle Mexican Grill has a 1-year low of $44.08 and a 1-year high of $69.26.

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

Insider Buying and Selling

In related news, insider Laurie Schalow sold 4,404 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $65.01, for a total value of $286,304.04. Following the sale, the insider now directly owns 185,792 shares of the company’s stock, valued at $12,078,337.92. This represents a 2.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through 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 shares were sold at an average price of $57.05, for a total value of $898,537.50. Following the transaction, the insider now owns 457,764 shares of the company’s stock, valued at $26,115,436.20. This trade represents a 3.33 % decrease in their position. The disclosure for this sale can be found here. 1.02% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Chipotle Mexican Grill

Hedge funds and other institutional investors have recently modified their holdings of the business. Shellback Capital LP increased its stake in Chipotle Mexican Grill by 4,900.0% in the second quarter. Shellback Capital LP now owns 125,000 shares of the restaurant operator’s stock worth $7,831,000 after purchasing an additional 122,500 shares during the period. Hantz Financial Services Inc. increased its stake in Chipotle Mexican Grill by 5,897.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 48,942 shares of the restaurant operator’s stock worth $2,820,000 after buying an additional 48,126 shares during the period. L & S Advisors Inc bought a new stake in Chipotle Mexican Grill during the 3rd quarter valued at about $3,256,000. Optas LLC boosted its position in Chipotle Mexican Grill by 318.5% in the 3rd quarter. Optas LLC now owns 17,160 shares of the restaurant operator’s stock valued at $989,000 after buying an additional 13,060 shares during the period. Finally, Savvy Advisors Inc. bought a new position in Chipotle Mexican Grill in the 3rd quarter worth about $758,000. 91.31% of the stock is currently owned by hedge funds and other 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.