Chipotle Mexican Grill (NYSE:CMG) Given New $53.00 Price Target at Piper Sandler

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) had its price objective boosted by Piper Sandler from $52.00 to $53.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the restaurant operator's stock. Piper Sandler's target price would suggest a potential upside of 17.24% from the stock's current price.

Other equities research analysts have also recently issued reports about the company. Wells Fargo & Company cut their price target on Chipotle Mexican Grill from $65.00 to $60.00 and set an "overweight" rating for the company in a research note on Thursday. Redburn Atlantic started coverage on Chipotle Mexican Grill in a research note on Tuesday, June 10th. They issued a "neutral" rating and a $55.00 price target for the company. Royal Bank Of Canada cut their price target on Chipotle Mexican Grill from $65.00 to $60.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Truist Financial upped their target price on Chipotle Mexican Grill from $63.00 to $64.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Finally, Loop Capital lowered their price target on shares of Chipotle Mexican Grill from $65.00 to $63.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Nine analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Chipotle Mexican Grill presently has a consensus rating of "Moderate Buy" and a consensus target price of $61.17.

Chipotle Mexican Grill Stock Down 14.3%

Shares of Chipotle Mexican Grill stock traded down $7.57 on Thursday, hitting $45.21. The stock had a trading volume of 52,829,291 shares, compared to its average volume of 13,120,230. Chipotle Mexican Grill has a twelve month low of $44.46 and a twelve month high of $66.74. The business's 50 day moving average is $52.98 and its two-hundred day moving average is $52.78. The stock has a market cap of $60.91 billion, a price-to-earnings ratio of 40.08, a price-to-earnings-growth ratio of 2.62 and a beta of 1.08.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 EPS for the quarter, beating the consensus estimate of $0.32 by $0.01. Chipotle Mexican Grill had a return on equity of 43.29% and a net margin of 13.59%. The company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.11 billion. During the same quarter in the prior year, the business earned $0.34 earnings per share. The firm's revenue for the quarter was up 3.0% on a year-over-year basis. As a group, equities analysts predict that Chipotle Mexican Grill will post 1.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Roger E. Theodoredis sold 113,875 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $49.70, for a total value of $5,659,587.50. Following the transaction, the insider owned 109,815 shares of the company's stock, valued at approximately $5,457,805.50. This trade represents a 50.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.81% of the company's stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

Large investors have recently added to or reduced their stakes in the business. Cloud Capital Management LLC bought a new position in shares of Chipotle Mexican Grill during the 1st quarter worth approximately $25,000. Saudi Central Bank bought a new stake in shares of Chipotle Mexican Grill in the 1st quarter worth approximately $27,000. 1248 Management LLC purchased a new position in Chipotle Mexican Grill in the 1st quarter valued at approximately $27,000. Signature Resources Capital Management LLC purchased a new position in Chipotle Mexican Grill in the 2nd quarter valued at approximately $28,000. Finally, HighMark Wealth Management LLC grew its stake in Chipotle Mexican Grill by 173.4% in the 1st quarter. HighMark Wealth Management LLC now owns 585 shares of the restaurant operator's stock valued at $29,000 after buying an additional 371 shares in the last quarter. Institutional investors own 91.31% of the company's stock.

Chipotle Mexican Grill Company Profile

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.

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