Chipotle Mexican Grill (NYSE:CMG) Stock Price Expected to Rise, Piper Sandler Analyst Says

Chipotle Mexican Grill (NYSE:CMG) had its price target increased by investment analysts at Piper Sandler from $44.00 to $47.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the restaurant operator’s stock. Piper Sandler’s target price would indicate a potential upside of 15.99% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Stephens dropped their price objective on Chipotle Mexican Grill from $48.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 30th. TD Cowen restated a “buy” rating on shares of Chipotle Mexican Grill in a report on Monday, January 5th. Evercore ISI reiterated an “outperform” rating and issued a $45.00 price objective on shares of Chipotle Mexican Grill in a research note on Friday, December 19th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Chipotle Mexican Grill in a report on Monday, December 29th. Finally, Northcoast Research cut Chipotle Mexican Grill from a “buy” rating to a “neutral” rating in a research report on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, Chipotle Mexican Grill has an average rating of “Moderate Buy” and an average target price of $50.23.

Chipotle Mexican Grill Trading Down 0.5%

Shares of CMG stock opened at $40.52 on Friday. The firm has a fifty day simple moving average of $36.20 and a two-hundred day simple moving average of $40.06. Chipotle Mexican Grill has a 12 month low of $29.75 and a 12 month high of $59.57. The firm has a market capitalization of $53.58 billion, a PE ratio of 35.86, a price-to-earnings-growth ratio of 3.87 and a beta of 0.97.

Chipotle Mexican Grill (NYSE:CMG) last posted its earnings results on Wednesday, October 29th. The restaurant operator reported $0.29 EPS for the quarter, hitting the consensus estimate of $0.29. The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.06 billion. Chipotle Mexican Grill had a net margin of 13.04% and a return on equity of 45.39%. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.27 earnings per share. On average, equities analysts predict that Chipotle Mexican Grill will post 1.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Chipotle Mexican Grill

Institutional investors and hedge funds have recently modified their holdings of the company. Revolve Wealth Partners LLC boosted its holdings in Chipotle Mexican Grill by 4.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 4,804 shares of the restaurant operator’s stock valued at $290,000 after purchasing an additional 214 shares during the period. Bison Wealth LLC bought a new stake in Chipotle Mexican Grill during the fourth quarter valued at $224,000. Empowered Funds LLC increased its stake in Chipotle Mexican Grill by 5.5% in the 1st quarter. Empowered Funds LLC now owns 26,460 shares of the restaurant operator’s stock worth $1,329,000 after acquiring an additional 1,368 shares during the last quarter. Ballentine Partners LLC raised its holdings in shares of Chipotle Mexican Grill by 19.5% in the 2nd quarter. Ballentine Partners LLC now owns 18,512 shares of the restaurant operator’s stock valued at $1,039,000 after acquiring an additional 3,024 shares in the last quarter. Finally, Mather Group LLC. boosted its position in shares of Chipotle Mexican Grill by 8.8% during the 2nd quarter. Mather Group LLC. now owns 15,201 shares of the restaurant operator’s stock valued at $854,000 after acquiring an additional 1,234 shares during the last quarter. 91.30% of the stock is owned by hedge funds and other institutional investors.

About Chipotle Mexican Grill

Chipotle Mexican Grill is a fast-casual restaurant company known for its Mexican-inspired menu of burritos, bowls, tacos and salads. Founded in 1993 by Steve Ells, the chain emphasizes fresh, customizable meals made from a limited menu of core ingredients and a focus on ingredient quality. Chipotle operates primarily company-owned restaurants and offers dine-in, takeout, catering and delivery through its own digital platforms and third-party partners.

The company is headquartered in Newport Beach, California, and traces its roots to Denver, Colorado.