Chipotle Mexican Grill (NYSE:CMG) Given New $59.00 Price Target at Evercore ISI

Chipotle Mexican Grill (NYSE:CMG) had its price objective cut by Evercore ISI from $65.00 to $59.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have an outperform rating on the restaurant operator’s stock.

A number of other research firms have also recently commented on CMG. Stephens reiterated an equal weight rating and issued a $61.00 price objective on shares of Chipotle Mexican Grill in a report on Tuesday. Truist Financial reissued a buy rating and issued a $69.00 target price on shares of Chipotle Mexican Grill in a research report on Tuesday. Argus boosted their target price on Chipotle Mexican Grill from $73.36 to $77.76 and gave the company a buy rating in a research report on Tuesday, June 18th. BTIG Research boosted their target price on Chipotle Mexican Grill from $65.00 to $67.00 and gave the company a buy rating in a research report on Thursday, April 25th. Finally, Morgan Stanley boosted their target price on Chipotle Mexican Grill from $59.72 to $62.00 and gave the company an equal weight rating in a research report on Thursday, April 25th. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $62.36.

Chipotle Mexican Grill Stock Up 0.6 %

Shares of Chipotle Mexican Grill stock traded up $0.29 on Wednesday, hitting $51.94. 3,665,647 shares of the company were exchanged, compared to its average volume of 15,013,957. The stock has a market capitalization of $71.33 billion, a price-to-earnings ratio of 54.94, a price-to-earnings-growth ratio of 2.23 and a beta of 1.24. The company has a 50-day moving average price of $122.94 and a 200 day moving average price of $80.42. Chipotle Mexican Grill has a 1-year low of $35.37 and a 1-year high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Wednesday, July 24th. The restaurant operator reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.02. Chipotle Mexican Grill had a return on equity of 44.01% and a net margin of 13.23%. The business had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the previous year, the firm posted $12.65 EPS. The business’s revenue for the quarter was up 18.2% compared to the same quarter last year. Research analysts forecast that Chipotle Mexican Grill will post 1.09 EPS for the current year.

Insider Transactions at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 17,394 shares of Chipotle Mexican Grill stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $54.68, for a total value of $951,103.92. Following the transaction, the insider now owns 358,300 shares in the company, valued at approximately $19,591,844. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

A number of hedge funds have recently made changes to their positions in CMG. Byrne Asset Management LLC raised its stake in shares of Chipotle Mexican Grill by 11.8% in the 1st quarter. Byrne Asset Management LLC now owns 38 shares of the restaurant operator’s stock valued at $110,000 after acquiring an additional 4 shares during the period. Evermay Wealth Management LLC raised its stake in shares of Chipotle Mexican Grill by 1.8% in the 4th quarter. Evermay Wealth Management LLC now owns 231 shares of the restaurant operator’s stock valued at $528,000 after acquiring an additional 4 shares during the period. Peloton Wealth Strategists raised its stake in shares of Chipotle Mexican Grill by 0.3% in the 4th quarter. Peloton Wealth Strategists now owns 1,451 shares of the restaurant operator’s stock valued at $3,318,000 after acquiring an additional 4 shares during the period. Hazlett Burt & Watson Inc. raised its stake in shares of Chipotle Mexican Grill by 19.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 25 shares of the restaurant operator’s stock valued at $73,000 after acquiring an additional 4 shares during the period. Finally, Diversified Trust Co raised its stake in shares of Chipotle Mexican Grill by 0.9% in the 1st quarter. Diversified Trust Co now owns 474 shares of the restaurant operator’s stock valued at $1,378,000 after acquiring an additional 4 shares during the period. Institutional investors and hedge funds own 91.31% of the company’s stock.

Chipotle Mexican Grill Company Profile

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.