Chipotle Mexican Grill (NYSE:CMG) Stock Price Up 1% Following Analyst Upgrade

Chipotle Mexican Grill, Inc. (NYSE:CMG)’s stock price traded up 1% during mid-day trading on Thursday after Evercore ISI raised their price target on the stock from $2,900.00 to $3,200.00. Evercore ISI currently has an outperform rating on the stock. Chipotle Mexican Grill traded as high as $2,932.92 and last traded at $2,931.49. 33,146 shares traded hands during trading, a decline of 86% from the average session volume of 228,900 shares. The stock had previously closed at $2,902.96.

Several other research firms also recently issued reports on CMG. Jefferies Financial Group upped their price objective on Chipotle Mexican Grill from $2,350.00 to $2,700.00 and gave the stock a “hold” rating in a report on Tuesday. Raymond James upped their price objective on Chipotle Mexican Grill from $2,450.00 to $2,550.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. KeyCorp upped their price objective on Chipotle Mexican Grill from $2,750.00 to $3,250.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. BMO Capital Markets increased their price target on Chipotle Mexican Grill from $2,100.00 to $2,400.00 and gave the company a “market perform” rating in a research note on Wednesday, February 7th. Finally, BTIG Research increased their price target on Chipotle Mexican Grill from $2,750.00 to $3,250.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Eleven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $2,759.14.

Insiders Place Their Bets

In other Chipotle Mexican Grill news, insider Christopher W. Brandt sold 3,149 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $2,927.84, for a total transaction of $9,219,768.16. Following the completion of the transaction, the insider now owns 8,563 shares in the company, valued at approximately $25,071,093.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Christopher W. Brandt sold 3,149 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $2,927.84, for a total value of $9,219,768.16. Following the completion of the transaction, the insider now owns 8,563 shares in the company, valued at approximately $25,071,093.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Albert S. Baldocchi sold 750 shares of Chipotle Mexican Grill stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $2,608.51, for a total value of $1,956,382.50. Following the transaction, the director now owns 37,271 shares of the company’s stock, valued at approximately $97,221,776.21. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,793 shares of company stock worth $18,321,152. Corporate insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Steph & Co. acquired a new stake in Chipotle Mexican Grill during the first quarter worth approximately $29,000. Fortitude Family Office LLC acquired a new stake in Chipotle Mexican Grill during the fourth quarter worth approximately $32,000. Coppell Advisory Solutions LLC acquired a new stake in Chipotle Mexican Grill during the second quarter worth approximately $32,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Chipotle Mexican Grill during the fourth quarter worth approximately $37,000. Finally, ICA Group Wealth Management LLC acquired a new stake in Chipotle Mexican Grill during the fourth quarter worth approximately $37,000. Institutional investors own 91.31% of the company’s stock.

Chipotle Mexican Grill Price Performance

The company’s 50-day simple moving average is $2,772.86 and its 200-day simple moving average is $2,375.00. The stock has a market capitalization of $79.67 billion, a price-to-earnings ratio of 66.10, a P/E/G ratio of 2.51 and a beta of 1.28.

Chipotle Mexican Grill’s stock is set to split before the market opens on Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly minted shares will be payable to shareholders after the closing bell on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings data on Tuesday, February 6th. The restaurant operator reported $10.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.73 by $0.63. Chipotle Mexican Grill had a net margin of 12.45% and a return on equity of 44.41%. The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same period last year, the business posted $8.29 earnings per share. The business’s revenue for the quarter was up 15.4% compared to the same quarter last year. Research analysts expect that Chipotle Mexican Grill, Inc. will post 53.41 earnings per share for the current year.

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.