Research analysts at Royal Bank of Canada initiated coverage on shares of Chipotle Mexican Grill (NYSE:CMG) in a research report issued on Monday, Marketbeat Ratings reports. The firm set a “sector perform” rating and a $890.00 price target on the restaurant operator’s stock. Royal Bank of Canada’s target price suggests a potential upside of 8.84% from the stock’s previous close.
A number of other research firms have also recently commented on CMG. SunTrust Banks increased their price target on Chipotle Mexican Grill from $900.00 to $920.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Bank of America upgraded Chipotle Mexican Grill from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $590.00 to $850.00 in a research note on Friday, October 18th. BMO Capital Markets boosted their price target on Chipotle Mexican Grill from $640.00 to $650.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 23rd. KeyCorp upped their price objective on shares of Chipotle Mexican Grill from $870.00 to $900.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, Loop Capital increased their price objective on shares of Chipotle Mexican Grill to $950.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Five analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $800.00.
NYSE CMG opened at $817.73 on Monday. The firm’s fifty day simple moving average is $783.07 and its two-hundred day simple moving average is $778.22. The company has a current ratio of 1.51, a quick ratio of 1.47 and a debt-to-equity ratio of 1.63. Chipotle Mexican Grill has a 12-month low of $383.20 and a 12-month high of $857.90. The firm has a market capitalization of $22.86 billion, a P/E ratio of 90.26, a P/E/G ratio of 3.01 and a beta of 0.70.
Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings data on Tuesday, October 22nd. The restaurant operator reported $3.82 EPS for the quarter, beating the consensus estimate of $3.13 by $0.69. The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.38 billion. Chipotle Mexican Grill had a return on equity of 23.97% and a net margin of 5.77%. The business’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.16 EPS. As a group, sell-side analysts predict that Chipotle Mexican Grill will post 13.87 earnings per share for the current fiscal year.
In other Chipotle Mexican Grill news, CEO Brian R. Niccol sold 716 shares of Chipotle Mexican Grill stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $778.26, for a total transaction of $557,234.16. Following the completion of the transaction, the chief executive officer now owns 26,634 shares in the company, valued at approximately $20,728,176.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian R. Niccol sold 749 shares of Chipotle Mexican Grill stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $813.11, for a total value of $609,019.39. Following the transaction, the chief executive officer now owns 26,634 shares of the company’s stock, valued at approximately $21,656,371.74. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,437 shares of company stock valued at $25,633,264. Company insiders own 2.21% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Commonwealth Bank of Australia lifted its holdings in Chipotle Mexican Grill by 77.3% in the second quarter. Commonwealth Bank of Australia now owns 39 shares of the restaurant operator’s stock valued at $26,000 after acquiring an additional 17 shares during the period. Griffin Asset Management Inc. purchased a new position in shares of Chipotle Mexican Grill during the 2nd quarter valued at approximately $41,000. Horan Capital Advisors LLC. purchased a new position in shares of Chipotle Mexican Grill during the 3rd quarter valued at approximately $42,000. Usca Ria LLC acquired a new position in shares of Chipotle Mexican Grill in the 3rd quarter valued at $42,000. Finally, Quest Capital Management Inc. ADV acquired a new position in shares of Chipotle Mexican Grill in the 3rd quarter valued at $56,000. 93.65% of the stock is currently owned by hedge funds and other 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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