Chipotle Mexican Grill (NYSE:CMG) Trading 2.4% Higher - Here's What Happened

Key Points

• Chipotle shares rose 2.4% during mid-day trading, with a recent trading price of $42.64, despite a decline in volume compared to the average.
• Analysts have adjusted their price targets for Chipotle, with the consensus now around $60.61, while ratings range from "hold" to "outperform."
• The restaurant operator reported an earnings per share (EPS) of $0.33, just beating estimates, and had a revenue of $3.06 billion for the quarter.

Chipotle Mexican Grill, Inc. (NYSE:CMG - Get Free Report)'s stock price traded up 2.4% during mid-day trading on Tuesday . The stock traded as high as $43.19 and last traded at $42.64. 4,712,832 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 13,979,795 shares. The stock had previously closed at $41.62.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Morgan Stanley cut their price objective on Chipotle Mexican Grill from $67.00 to $65.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Evercore ISI cut their price objective on Chipotle Mexican Grill from $64.00 to $57.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Melius assumed coverage on Chipotle Mexican Grill in a research report on Monday, July 14th. They issued a "hold" rating and a $60.00 price objective for the company. Guggenheim cut their price objective on Chipotle Mexican Grill from $47.00 to $46.00 and set a "neutral" rating for the company in a research report on Friday, July 25th. Finally, Barclays cut their price objective on Chipotle Mexican Grill from $55.00 to $53.00 and set an "equal weight" rating for the company in a research report on Thursday, July 24th. Eight investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Chipotle Mexican Grill has an average rating of "Moderate Buy" and a consensus target price of $60.61.

Chipotle Mexican Grill Trading Down 0.9%

The business has a 50 day simple moving average of $50.54 and a 200-day simple moving average of $51.25. The stock has a market capitalization of $57.79 billion, a price-to-earnings ratio of 38.48, a price-to-earnings-growth ratio of 2.21 and a beta of 1.05.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.01. Chipotle Mexican Grill had a return on equity of 43.50% and a net margin of 13.32%. The firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same period last year, the company earned $0.34 EPS. The firm's quarterly revenue was up 3.0% on a year-over-year basis. Research analysts predict that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current year.

Insider Transactions at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 113,875 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $49.70, for a total value of $5,659,587.50. Following the sale, the insider directly 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.81% of the company's stock.

Institutional Trading of Chipotle Mexican Grill

A number of hedge funds have recently added to or reduced their stakes in the business. Cloud Capital Management LLC purchased a new position in shares of Chipotle Mexican Grill in the 1st quarter worth about $25,000. Operose Advisors LLC purchased a new position in shares of Chipotle Mexican Grill in the 2nd quarter worth about $25,000. Saudi Central Bank purchased a new position in shares of Chipotle Mexican Grill in the 1st quarter worth about $27,000. 1248 Management LLC purchased a new position in shares of Chipotle Mexican Grill in the 1st quarter worth about $27,000. Finally, Signature Resources Capital Management LLC purchased a new position in shares of Chipotle Mexican Grill in the 2nd quarter worth about $28,000. 91.31% of the stock is owned by institutional investors and hedge funds.

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.