Chipotle Mexican Grill (NYSE:CMG) Shares Gap Up Following Analyst Upgrade

Chipotle Mexican Grill, Inc. (NYSE:CMG) shares gapped up prior to trading on Wednesday after Truist Financial raised their price target on the stock from $72.00 to $74.00. The stock had previously closed at $60.94, but opened at $62.99. Truist Financial currently has a buy rating on the stock. Chipotle Mexican Grill shares last traded at $63.37, with a volume of 3,295,363 shares.

Other equities research analysts have also recently issued research reports about the stock. Stephens restated an “equal weight” rating and issued a $65.00 price objective on shares of Chipotle Mexican Grill in a report on Tuesday, November 12th. Loop Capital upped their price objective on shares of Chipotle Mexican Grill from $53.00 to $58.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Wells Fargo & Company upped their price objective on shares of Chipotle Mexican Grill from $66.00 to $67.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. TD Cowen increased their price target on shares of Chipotle Mexican Grill from $65.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Evercore ISI increased their price target on shares of Chipotle Mexican Grill from $59.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday, October 15th. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, Chipotle Mexican Grill presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.34.

Insider Buying and Selling

In related news, insider Curtis E. Garner sold 15,750 shares of Chipotle Mexican Grill stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $57.05, for a total transaction of $898,537.50. Following the completion of the sale, the insider now owns 457,764 shares in the company, valued at $26,115,436.20. This trade represents a 3.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robin S. Hickenlooper sold 1,790 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $56.38, for a total transaction of $100,920.20. Following the completion of the sale, the director now owns 41,510 shares of the company’s stock, valued at approximately $2,340,333.80. This represents a 4.13 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,290 shares of company stock valued at $1,866,023. Company insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CMG. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Chipotle Mexican Grill in the 2nd quarter worth approximately $25,000. Riverview Trust Co lifted its stake in shares of Chipotle Mexican Grill by 4,900.0% in the 2nd 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 lifted its stake in shares of Chipotle Mexican Grill by 4,900.0% in the 2nd quarter. RiverPark Advisors LLC now owns 400 shares of the restaurant operator’s stock valued at $25,000 after purchasing an additional 392 shares during the period. Archer Investment Corp acquired a new position in Chipotle Mexican Grill during the second quarter worth $25,000. Finally, Oliver Lagore Vanvalin Investment Group raised its position in Chipotle Mexican Grill by 4,900.0% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the restaurant operator’s stock worth $25,000 after acquiring an additional 392 shares during the period. Hedge funds and other institutional investors own 91.31% of the company’s stock.

Chipotle Mexican Grill Stock Up 4.9 %

The stock’s 50-day simple moving average is $59.11 and its two-hundred day simple moving average is $80.95. The company has a market capitalization of $87.07 billion, a price-to-earnings ratio of 59.48, a PEG ratio of 2.44 and a beta of 1.27.

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, topping analysts’ consensus estimates of $0.25 by $0.02. The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Chipotle Mexican Grill had a net margin of 13.51% and a return on equity of 43.20%. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.23 earnings per share. On average, sell-side analysts forecast that Chipotle Mexican Grill, Inc. will post 1.11 EPS for the current year.

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.