Chipotle Mexican Grill (NYSE:CMG) Price Target Raised to $62.00 at Raymond James Financial

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) had its target price hoisted by equities research analysts at Raymond James Financial from $58.00 to $62.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an "outperform" rating on the restaurant operator's stock. Raymond James Financial's price objective points to a potential upside of 15.57% from the company's current price.

Several other research analysts have also recently issued reports on the company. Morgan Stanley reduced their price objective on Chipotle Mexican Grill from $67.00 to $65.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. KeyCorp raised their target price on Chipotle Mexican Grill from $58.00 to $60.00 and gave the company an "overweight" rating in a research report on Tuesday. Evercore ISI reduced their price objective on Chipotle Mexican Grill from $64.00 to $57.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Barclays lifted their price objective on Chipotle Mexican Grill from $54.00 to $55.00 and gave the stock an "equal weight" rating in a research report on Thursday. Finally, Redburn Atlantic started coverage on Chipotle Mexican Grill in a research report on Tuesday, June 10th. They issued a "neutral" rating and a $55.00 target price on the stock. Ten equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $61.41.

Chipotle Mexican Grill Trading Up 0.5%

Shares of CMG traded up $0.27 during midday trading on Thursday, reaching $53.65. 6,872,899 shares of the stock were exchanged, compared to its average volume of 12,616,731. Chipotle Mexican Grill has a 52 week low of $44.46 and a 52 week high of $66.74. The company's 50 day moving average is $52.78 and its two-hundred day moving average is $53.03. The company has a market capitalization of $72.28 billion, a P/E ratio of 47.50, a PEG ratio of 2.68 and a beta of 1.08.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The restaurant operator reported $0.29 EPS for the quarter, beating analysts' consensus estimates of $0.28 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 $2.88 billion during the quarter, compared to analysts' expectations of $2.98 billion. During the same period last year, the business posted $13.37 earnings per share. The firm's revenue was up 6.4% compared to the same quarter last year. On average, sell-side analysts expect that Chipotle Mexican Grill will post 1.29 EPS for the current year.

Insider Activity at Chipotle Mexican Grill

In related news, insider Roger E. Theodoredis sold 113,875 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $49.70, for a total transaction of $5,659,587.50. Following the completion of the sale, the insider owned 109,815 shares in the company, valued at $5,457,805.50. This represents a 50.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.81% of the stock is owned by insiders.

Institutional Investors Weigh In On Chipotle Mexican Grill

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Cloud Capital Management LLC purchased a new position in shares of Chipotle Mexican Grill during the 1st quarter worth approximately $25,000. Saudi Central Bank acquired a new stake in shares of Chipotle Mexican Grill during the first quarter worth $27,000. 1248 Management LLC acquired a new stake in shares of Chipotle Mexican Grill during the first quarter worth $27,000. Signature Resources Capital Management LLC acquired a new position in Chipotle Mexican Grill in the second quarter valued at $28,000. Finally, HighMark Wealth Management LLC boosted its holdings in Chipotle Mexican Grill by 173.4% in the first quarter. HighMark Wealth Management LLC now owns 585 shares of the restaurant operator's stock valued at $29,000 after acquiring an additional 371 shares during the last quarter. 91.31% 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. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.