Chipotle Mexican Grill (NYSE:CMG) Price Target Cut to $72.00

Chipotle Mexican Grill (NYSE:CMG) had its target price lowered by research analysts at TD Cowen from $3,600.00 to $72.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the restaurant operator’s stock. TD Cowen’s target price would suggest a potential upside of 15.42% from the company’s previous close.

CMG has been the subject of a number of other research reports. UBS Group raised their price objective on Chipotle Mexican Grill from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. raised their price objective on Chipotle Mexican Grill from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, June 3rd. Evercore ISI raised their price objective on Chipotle Mexican Grill from $64.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Robert W. Baird reissued an “outperform” rating and issued a $70.00 price objective on shares of Chipotle Mexican Grill in a research note on Friday, June 21st. Finally, Stifel Nicolaus raised their price objective on Chipotle Mexican Grill from $54.00 to $65.40 and gave the company a “buy” rating in a research note on Thursday, April 11th. Nine analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, Chipotle Mexican Grill has a consensus rating of “Moderate Buy” and an average target price of $64.17.

Chipotle Mexican Grill Price Performance

NYSE CMG opened at $62.38 on Wednesday. The business has a 50 day simple moving average of $127.58 and a 200 day simple moving average of $77.98. Chipotle Mexican Grill has a one year low of $35.37 and a one year high of $69.26. The stock has a market capitalization of $1.71 billion, a P/E ratio of 1.33, a P/E/G ratio of 2.61 and a beta of 1.25.

Chipotle Mexican Grill (NYSE:CMG) last released its earnings results on Wednesday, April 24th. The restaurant operator reported $0.27 EPS for the quarter, topping the consensus estimate of $0.23 by $0.04. Chipotle Mexican Grill had a return on equity of 43.74% and a net margin of 12.70%. The business had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Equities analysts expect that Chipotle Mexican Grill will post 55.31 earnings per share for the current year.

Insider Buying and Selling at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 125,450 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $63.29, for a total value of $7,939,579.96. Following the sale, the insider now directly owns 54,250 shares in the company, valued at $3,433,417.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 125,450 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $63.29, for a total value of $7,939,579.96. Following the sale, the insider now directly owns 54,250 shares in the company, valued at $3,433,417.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Albert S. Baldocchi sold 50,000 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $63.32, for a total value of $3,166,010.00. Following the completion of the sale, the director now owns 1,362,500 shares in the company, valued at $86,273,772.50. The disclosure for this sale can be found here. Insiders have sold a total of 550,750 shares of company stock worth $35,023,769 over the last ninety days. 1.02% of the stock is currently owned by company insiders.

Institutional Trading of Chipotle Mexican Grill

A number of institutional investors have recently added to or reduced their stakes in CMG. Steph & Co. purchased a new stake in Chipotle Mexican Grill during the 1st quarter worth about $29,000. Fortitude Family Office LLC purchased a new stake in Chipotle Mexican Grill during the 4th quarter worth about $32,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Chipotle Mexican Grill during the 4th quarter worth about $37,000. ICA Group Wealth Management LLC purchased a new stake in Chipotle Mexican Grill during the 4th quarter worth about $37,000. Finally, Semmax Financial Advisors Inc. lifted its holdings in Chipotle Mexican Grill by 225.0% during the 1st quarter. Semmax Financial Advisors Inc. now owns 13 shares of the restaurant operator’s stock worth $42,000 after purchasing an additional 9 shares in the last quarter. Hedge funds and other institutional investors own 91.31% of the company’s stock.

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.