Chipotle Mexican Grill (NYSE:CMG) Stock Crosses Above 200 Day Moving Average – Should You Sell?

Chipotle Mexican Grill, Inc. (NYSE:CMG)’s stock price crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $34.03 and traded as high as $35.31. Chipotle Mexican Grill shares last traded at $35.1730, with a volume of 21,880,748 shares.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CMG. Evercore restated an “outperform” rating and issued a $47.00 price objective (up from $45.00) on shares of Chipotle Mexican Grill in a report on Thursday, July 30th. Morgan Stanley upped their target price on Chipotle Mexican Grill from $39.00 to $40.00 and gave the stock an “equal weight” rating in a report on Thursday, October 15th. Guggenheim reiterated a “neutral” rating and set a $32.00 target price (down from $36.00) on shares of Chipotle Mexican Grill in a report on Thursday, October 29th. Royal Bank Of Canada reissued an “outperform” rating and set a $40.00 price target (down from $45.00) on shares of Chipotle Mexican Grill in a research report on Thursday, October 29th. Finally, Seaport Research Partners began coverage on Chipotle Mexican Grill in a research note on Wednesday, September 16th. They issued a “neutral” rating for the company. Twenty-seven investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Chipotle Mexican Grill currently has an average rating of “Moderate Buy” and a consensus target price of $42.36.

Chipotle Mexican Grill Trading Up 5.8%

The company has a market cap of $44.49 billion, a price-to-earnings ratio of 32.87, a PEG ratio of 2.19 and a beta of 1.00. The business’s 50 day moving average price is $32.84 and its 200-day moving average price is $34.03.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings results on Wednesday, October 28th. The restaurant operator reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.02). The business had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.29 billion. Chipotle Mexican Grill had a return on equity of 57.05% and a net margin of 10.83%. Chipotle Mexican Grill’s revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.29 earnings per share. Equities research analysts forecast that Chipotle Mexican Grill, Inc. will post 1.10 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Matthew R. Bush sold 2,675 shares of Chipotle Mexican Grill stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $35.75, for a total transaction of $95,631.25. Following the sale, the insider directly owned 21,415 shares in the company, valued at $765,586.25. This trade represents a 11.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.45% of the company’s stock.

Institutional Trading of Chipotle Mexican Grill

Several hedge funds have recently modified their holdings of the stock. Citizens Financial Group Inc. RI grew its stake in shares of Chipotle Mexican Grill by 2.5% in the 1st quarter. Citizens Financial Group Inc. RI now owns 12,708 shares of the restaurant operator’s stock valued at $407,000 after buying an additional 311 shares during the period. ANB Bank boosted its holdings in Chipotle Mexican Grill by 5.8% in the first quarter. ANB Bank now owns 6,317 shares of the restaurant operator’s stock worth $202,000 after acquiring an additional 349 shares in the last quarter. State of Wyoming boosted its holdings in Chipotle Mexican Grill by 10.9% in the first quarter. State of Wyoming now owns 3,759 shares of the restaurant operator’s stock worth $120,000 after acquiring an additional 368 shares in the last quarter. Valmark Advisers Inc. grew its stake in Chipotle Mexican Grill by 2.9% in the first quarter. Valmark Advisers Inc. now owns 13,275 shares of the restaurant operator’s stock valued at $425,000 after acquiring an additional 377 shares during the period. Finally, Covestor Ltd increased its holdings in shares of Chipotle Mexican Grill by 20.1% during the third quarter. Covestor Ltd now owns 2,690 shares of the restaurant operator’s stock valued at $86,000 after acquiring an additional 451 shares in the last quarter. Institutional investors own 91.30% of the company’s stock.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc (NYSE: CMG) operates a chain of fast-casual restaurants focused on Mexican-inspired food. Its menu includes burritos, burrito bowls, tacos, quesadillas and salads, with options such as chicken, steak, barbacoa, carnitas, sofritas and vegetables. The company emphasizes preparing food in its restaurants from ingredients it describes as responsibly sourced, including meats raised with attention to animal welfare and produce from selected suppliers.

Founded by Steve Ells in 1993, Chipotle opened its first restaurant in Denver, Colorado.