Piper Jaffray Companies Increases Chipotle Mexican Grill (CMG) Price Target to $725.00

Chipotle Mexican Grill (NYSE:CMG) had its price objective lifted by equities research analysts at Piper Jaffray Companies from $661.00 to $725.00 in a report released on Monday, MarketBeat.com reports. The firm presently has an “overweight” rating on the restaurant operator’s stock. Piper Jaffray Companies’ target price suggests a potential upside of 8.88% from the company’s current price. Piper Jaffray Companies also issued estimates for Chipotle Mexican Grill’s Q2 2020 earnings at $4.12 EPS and Q4 2020 earnings at $4.28 EPS.

A number of other research firms also recently weighed in on CMG. Robert W. Baird restated a “buy” rating and issued a $525.00 target price on shares of Chipotle Mexican Grill in a report on Thursday, January 3rd. BTIG Research boosted their target price on shares of Chipotle Mexican Grill from $620.00 to $700.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Wedbush restated an “underperform” rating and issued a $500.00 target price (up from $440.00) on shares of Chipotle Mexican Grill in a report on Thursday, February 7th. KeyCorp boosted their target price on shares of Chipotle Mexican Grill from $525.00 to $625.00 and gave the stock an “overweight” rating in a report on Thursday, February 7th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $500.00 target price on shares of Chipotle Mexican Grill in a report on Monday, February 11th. Nine investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $517.27.

Chipotle Mexican Grill stock opened at $665.86 on Monday. Chipotle Mexican Grill has a twelve month low of $307.70 and a twelve month high of $671.99. The stock has a market capitalization of $18.14 billion, a PE ratio of 73.49, a price-to-earnings-growth ratio of 2.96 and a beta of 0.65.

Chipotle Mexican Grill (NYSE:CMG) last posted its earnings results on Wednesday, February 6th. The restaurant operator reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.34. Chipotle Mexican Grill had a net margin of 3.63% and a return on equity of 17.64%. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the previous year, the firm posted $1.34 EPS. The business’s quarterly revenue was up 10.4% on a year-over-year basis. On average, research analysts anticipate that Chipotle Mexican Grill will post 12.24 earnings per share for the current year.

In other Chipotle Mexican Grill news, CFO Jack Hartung sold 7,150 shares of the business’s stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $606.77, for a total value of $4,338,405.50. Following the completion of the sale, the chief financial officer now directly owns 45,237 shares of the company’s stock, valued at approximately $27,448,454.49. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Pershing Square Capital Manage sold 20,000 shares of the business’s stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $594.65, for a total transaction of $11,893,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 49,130 shares of company stock valued at $29,822,019. 2.19% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in CMG. First Trust Advisors LP boosted its position in Chipotle Mexican Grill by 85.1% in the 3rd quarter. First Trust Advisors LP now owns 9,011 shares of the restaurant operator’s stock valued at $4,096,000 after buying an additional 4,142 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in Chipotle Mexican Grill by 658.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 19,962 shares of the restaurant operator’s stock valued at $9,076,000 after buying an additional 17,330 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Chipotle Mexican Grill by 12.0% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 91,457 shares of the restaurant operator’s stock valued at $41,569,000 after buying an additional 9,822 shares during the period. MML Investors Services LLC boosted its position in Chipotle Mexican Grill by 29.8% in the 3rd quarter. MML Investors Services LLC now owns 757 shares of the restaurant operator’s stock valued at $344,000 after buying an additional 174 shares during the period. Finally, Chartwell Investment Partners LLC boosted its position in Chipotle Mexican Grill by 38.1% in the 3rd quarter. Chartwell Investment Partners LLC now owns 3,354 shares of the restaurant operator’s stock valued at $1,524,000 after buying an additional 926 shares during the period. 92.38% of the stock is owned by institutional investors.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill, Inc, together with its subsidiaries, operates Chipotle Mexican Grill restaurants. As of December 31, 2018, it operated approximately 2,500 restaurants in the United States, Canada, the United Kingdom, France, and Germany. The company was founded in 1993 and is headquartered in Newport Beach, California.

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Analyst Recommendations for Chipotle Mexican Grill (NYSE:CMG)

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