Chipotle Mexican Grill (NYSE:CMG) Given a $900.00 Price Target by SunTrust Banks Analysts

SunTrust Banks set a $900.00 price target on Chipotle Mexican Grill (NYSE:CMG) in a research note released on Tuesday morning, TipRanks reports. The firm currently has a buy rating on the restaurant operator’s stock.

Several other brokerages also recently issued reports on CMG. ValuEngine downgraded shares of Chipotle Mexican Grill from a strong-buy rating to a buy rating in a report on Thursday, August 1st. Wedbush upgraded shares of Chipotle Mexican Grill from a neutral rating to an outperform rating and upped their price target for the stock from $780.00 to $980.00 in a report on Monday, September 9th. BTIG Research upped their price target on shares of Chipotle Mexican Grill from $790.00 to $845.00 and gave the stock a buy rating in a report on Wednesday, July 24th. They noted that the move was a valuation call. Stifel Nicolaus upgraded shares of Chipotle Mexican Grill to a hold rating and set a $755.00 price target for the company in a report on Wednesday, July 24th. Finally, Morgan Stanley upped their price target on shares of Chipotle Mexican Grill from $700.00 to $706.00 and gave the stock an equal weight rating in a report on Wednesday, July 24th. Seven equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $709.58.

Shares of NYSE:CMG traded up $2.57 during trading on Tuesday, hitting $834.66. 524,854 shares of the company were exchanged, compared to its average volume of 586,190. The business’s 50 day moving average is $815.92 and its 200-day moving average is $732.64. The company has a market capitalization of $22.89 billion, a P/E ratio of 92.13, a price-to-earnings-growth ratio of 3.29 and a beta of 0.71. The company has a quick ratio of 1.48, a current ratio of 1.52 and a debt-to-equity ratio of 1.65. Chipotle Mexican Grill has a 1-year low of $383.20 and a 1-year high of $857.90.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Tuesday, July 23rd. The restaurant operator reported $3.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.68 by $0.31. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.41 billion. Chipotle Mexican Grill had a net margin of 4.80% and a return on equity of 21.50%. The company’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.87 earnings per share. As a group, sell-side analysts anticipate that Chipotle Mexican Grill will post 13.36 earnings per share for the current year.

In other Chipotle Mexican Grill news, insider Steve Ells sold 28,645 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $802.66, for a total transaction of $22,992,195.70. Following the completion of the sale, the insider now directly owns 183,580 shares in the company, valued at approximately $147,352,322.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Pershing Square Capital Manage sold 80,000 shares of the stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $726.15, for a total transaction of $58,092,000.00. The disclosure for this sale can be found here. Insiders sold 163,559 shares of company stock valued at $125,535,353 over the last 90 days. 2.21% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Chipotle Mexican Grill by 1.7% during the 2nd quarter. Tokio Marine Asset Management Co. Ltd. now owns 883 shares of the restaurant operator’s stock worth $647,000 after purchasing an additional 15 shares in the last quarter. Commonwealth Bank of Australia boosted its position in shares of Chipotle Mexican Grill by 77.3% during the 2nd quarter. Commonwealth Bank of Australia now owns 39 shares of the restaurant operator’s stock worth $26,000 after purchasing an additional 17 shares in the last quarter. BB&T Securities LLC boosted its position in shares of Chipotle Mexican Grill by 3.7% during the 2nd quarter. BB&T Securities LLC now owns 506 shares of the restaurant operator’s stock worth $370,000 after purchasing an additional 18 shares in the last quarter. World Asset Management Inc boosted its position in shares of Chipotle Mexican Grill by 1.1% during the 2nd quarter. World Asset Management Inc now owns 1,816 shares of the restaurant operator’s stock worth $1,331,000 after purchasing an additional 19 shares in the last quarter. Finally, United Capital Financial Advisers LLC boosted its position in shares of Chipotle Mexican Grill by 3.3% during the 2nd quarter. United Capital Financial Advisers LLC now owns 655 shares of the restaurant operator’s stock worth $480,000 after purchasing an additional 21 shares in the last quarter. 91.90% of the stock is currently 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 2,491 restaurants, including 2,452 Chipotle restaurants in the United States, 37 Chipotle restaurants internationally, and two non-Chipotle restaurants. 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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