Chipotle Mexican Grill (NYSE:CMG) Coverage Initiated at Royal Bank of Canada

Royal Bank of Canada assumed coverage on shares of Chipotle Mexican Grill (NYSE:CMG) in a research report released on Friday morning, Marketbeat.com reports. The firm issued an outperform rating and a $70.00 price objective on the restaurant operator’s stock.

Several other equities analysts have also commented on CMG. Robert W. Baird raised their price objective on Chipotle Mexican Grill from $62.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Wedbush reissued an “outperform” rating and set a $69.00 price objective on shares of Chipotle Mexican Grill in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $67.00 price objective on shares of Chipotle Mexican Grill in a report on Wednesday, August 14th. Evercore ISI boosted their price target on Chipotle Mexican Grill from $59.00 to $70.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 15th. Finally, Stephens reaffirmed an “equal weight” rating and set a $65.00 price objective on shares of Chipotle Mexican Grill in a research report on Tuesday, November 12th. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $65.27.

Chipotle Mexican Grill Price Performance

Shares of NYSE CMG opened at $58.84 on Friday. Chipotle Mexican Grill has a 1 year low of $43.20 and a 1 year high of $69.26. The stock has a market capitalization of $80.17 billion, a P/E ratio of 54.77, a P/E/G ratio of 2.36 and a beta of 1.26. The company’s 50-day moving average is $58.11 and its 200 day moving average is $81.28.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.02. Chipotle Mexican Grill had a return on equity of 43.20% and a net margin of 13.51%. The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.82 billion. During the same period in the previous year, the firm posted $0.23 EPS. The business’s revenue was up 13.0% on a year-over-year basis. Research analysts anticipate that Chipotle Mexican Grill will post 1.11 earnings per share for the current year.

Insider Activity

In related news, Director Robin S. Hickenlooper sold 1,790 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $56.38, for a total transaction of $100,920.20. Following the sale, the director now owns 41,510 shares in the company, valued at approximately $2,340,333.80. This represents a 4.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Curtis E. Garner sold 15,750 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $57.05, for a total value of $898,537.50. Following the completion of the sale, the insider now owns 457,764 shares of the company’s stock, valued at approximately $26,115,436.20. This represents a 3.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,290 shares of company stock worth $1,866,023. 1.02% of the stock is currently owned by corporate insiders.

Institutional Trading of Chipotle Mexican Grill

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CMG. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Chipotle Mexican Grill during the second quarter valued at $25,000. Riverview Trust Co boosted its holdings in shares of Chipotle Mexican Grill by 4,900.0% in the second quarter. Riverview Trust Co now owns 400 shares of the restaurant operator’s stock valued at $25,000 after purchasing an additional 392 shares during the period. RiverPark Advisors LLC grew its stake in Chipotle Mexican Grill by 4,900.0% in the second quarter. RiverPark Advisors LLC now owns 400 shares of the restaurant operator’s stock worth $25,000 after purchasing an additional 392 shares in the last quarter. Archer Investment Corp bought a new stake in Chipotle Mexican Grill during the 2nd quarter valued at $25,000. Finally, Oliver Lagore Vanvalin Investment Group lifted its holdings in shares of Chipotle Mexican Grill by 4,900.0% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the restaurant operator’s stock worth $25,000 after buying an additional 392 shares during the period. 91.31% of the stock is owned by hedge funds and other institutional investors.

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.