Credit Suisse Group Raises Chipotle Mexican Grill (NYSE:CMG) Price Target to $2,075.00

Chipotle Mexican Grill (NYSE:CMG) had its target price increased by Credit Suisse Group from $1,950.00 to $2,075.00 in a research report released on Wednesday, PriceTargets.com reports. The firm currently has an outperform rating on the restaurant operator’s stock.

Several other research analysts have also recently issued reports on CMG. UBS Group increased their price target on Chipotle Mexican Grill from $1,700.00 to $1,850.00 and gave the stock a buy rating in a research note on Wednesday. Morgan Stanley increased their price target on Chipotle Mexican Grill from $1,602.00 to $1,646.00 and gave the stock an equal weight rating in a research note on Wednesday. Stephens increased their price target on Chipotle Mexican Grill from $1,700.00 to $1,850.00 and gave the stock an overweight rating in a research note on Wednesday. Truist Securiti increased their price target on Chipotle Mexican Grill from $1,700.00 to $1,750.00 in a research note on Tuesday, April 6th. Finally, Cowen increased their price target on Chipotle Mexican Grill from $1,850.00 to $2,080.00 and gave the stock an outperform rating in a research note on Wednesday. Eight analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. The company has an average rating of Buy and an average target price of $1,719.29.

Shares of CMG opened at $1,755.99 on Wednesday. The company has a market cap of $49.43 billion, a P/E ratio of 78.48, a P/E/G ratio of 3.47 and a beta of 1.35. The stock’s fifty day moving average is $1,445.33. Chipotle Mexican Grill has a 12 month low of $1,094.93 and a 12 month high of $1,778.29.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings results on Monday, July 19th. The restaurant operator reported $7.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $6.52 by $0.94. Chipotle Mexican Grill had a return on equity of 28.98% and a net margin of 8.57%. The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter in the prior year, the business posted $0.40 earnings per share. The company’s revenue for the quarter was up 38.7% compared to the same quarter last year. On average, research analysts anticipate that Chipotle Mexican Grill will post 24.54 EPS for the current fiscal year.

In other Chipotle Mexican Grill news, Director Matt Carey acquired 673 shares of Chipotle Mexican Grill stock in a transaction that occurred on Friday, April 23rd. The stock was purchased at an average cost of $1,485.00 per share, with a total value of $999,405.00. Following the purchase, the director now owns 687 shares in the company, valued at $1,020,195. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robin S. Hickenlooper sold 109 shares of the stock in a transaction dated Wednesday, May 19th. The stock was sold at an average price of $1,300.00, for a total value of $141,700.00. Following the completion of the sale, the director now directly owns 944 shares of the company’s stock, valued at $1,227,200. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,309 shares of company stock valued at $19,365,245. Company insiders own 1.00% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Raymond James Trust N.A. increased its position in Chipotle Mexican Grill by 3.2% in the 2nd quarter. Raymond James Trust N.A. now owns 709 shares of the restaurant operator’s stock worth $1,099,000 after purchasing an additional 22 shares during the last quarter. Alpha Cubed Investments LLC increased its position in Chipotle Mexican Grill by 2.0% in the 2nd quarter. Alpha Cubed Investments LLC now owns 1,515 shares of the restaurant operator’s stock worth $2,349,000 after purchasing an additional 30 shares during the last quarter. Transform Wealth LLC increased its position in Chipotle Mexican Grill by 41.2% in the 2nd quarter. Transform Wealth LLC now owns 264 shares of the restaurant operator’s stock worth $409,000 after purchasing an additional 77 shares during the last quarter. Stratos Wealth Partners LTD. increased its position in Chipotle Mexican Grill by 0.7% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 2,254 shares of the restaurant operator’s stock worth $3,494,000 after purchasing an additional 16 shares during the last quarter. Finally, IFM Investors Pty Ltd increased its position in Chipotle Mexican Grill by 25.4% in the 2nd quarter. IFM Investors Pty Ltd now owns 3,617 shares of the restaurant operator’s stock worth $5,608,000 after purchasing an additional 733 shares during the last quarter. 89.19% of the stock is owned by hedge funds and other institutional investors.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. As of December 31, 2020, it owned and operated 2,724 Chipotle restaurants in the United States, 40 international Chipotle restaurants, and 4 non-Chipotle restaurants. The company was founded in 1993 and is headquartered in Newport Beach, California.

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Analyst Recommendations for Chipotle Mexican Grill (NYSE:CMG)

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