Chipotle Mexican Grill (NYSE:CMG) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Key Points

• Chipotle shares rose 5.8% and moved above their 200-day moving average of $34.03, trading as high as $35.31.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $42.36, though recent recommendations range from Hold to Buy.
• Quarterly earnings per share of $0.27 missed the $0.29 consensus, while revenue of $3.29 billion matched estimates and increased 9.6% year over year.

Chipotle Mexican Grill, Inc. (NYSE:CMG - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $34.03 and traded as high as $35.31. Chipotle Mexican Grill shares last traded at $35.1730, with a volume of 21,880,748 shares.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Robert W. Baird dropped their price objective on shares of Chipotle Mexican Grill from $40.00 to $35.00 and set a "neutral" rating for the company in a report on Friday, October 2nd. Evercore restated an "outperform" rating and set a $47.00 price target (up from $45.00) on shares of Chipotle Mexican Grill in a research report on Thursday, July 30th. Oppenheimer reaffirmed an "outperform" rating and set a $51.00 price target on shares of Chipotle Mexican Grill in a report on Thursday, October 29th. Bank of America reaffirmed a "buy" rating and set a $53.00 price target (up from $50.00) on shares of Chipotle Mexican Grill in a report on Tuesday, September 1st. Finally, TD Cowen reiterated a "hold" rating and issued a $32.00 price objective on shares of Chipotle Mexican Grill in a research report on Thursday, October 29th. Twenty-seven investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Chipotle Mexican Grill presently has an average rating of "Moderate Buy" and an average target price of $42.36.

Chipotle Mexican Grill Trading Up 5.8%

The stock has a market cap of $44.49 billion, a P/E ratio of 32.87, a price-to-earnings-growth ratio of 2.19 and a beta of 1.00. The business's fifty day simple moving average is $32.84 and its 200 day simple moving average is $34.03.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last announced its earnings results on Wednesday, October 28th. The restaurant operator reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.29 by ($0.02). Chipotle Mexican Grill had a return on equity of 57.05% and a net margin of 10.83%. The company had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.29 billion. During the same period in the prior year, the firm posted $0.29 earnings per share. The company's revenue was up 9.6% on a year-over-year basis. On average, analysts predict that Chipotle Mexican Grill, Inc. will post 1.10 earnings per share for the current fiscal year.

Insider Activity at Chipotle Mexican Grill

In other news, insider Matthew R. Bush sold 2,675 shares of Chipotle Mexican Grill stock in a transaction on Friday, August 21st. The stock was sold at an average price of $35.75, for a total value of $95,631.25. Following the completion of the sale, the insider directly owned 21,415 shares of the company's stock, valued at approximately $765,586.25. This trade represents a 11.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.45% of the company's stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

Large investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Chipotle Mexican Grill in the 2nd quarter valued at approximately $4,417,475,000. Arrowstreet Capital Limited Partnership grew its holdings in Chipotle Mexican Grill by 19.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 16,478,248 shares of the restaurant operator's stock valued at $527,469,000 after purchasing an additional 2,727,762 shares during the period. Amundi grew its holdings in Chipotle Mexican Grill by 23.3% during the first quarter. Amundi now owns 11,980,192 shares of the restaurant operator's stock valued at $383,486,000 after purchasing an additional 2,266,087 shares during the period. Bank of America Corp DE acquired a new position in Chipotle Mexican Grill during the second quarter valued at approximately $383,483,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Chipotle Mexican Grill by 30.6% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,845,627 shares of the restaurant operator's stock valued at $368,751,000 after purchasing an additional 2,541,795 shares during the last quarter. Institutional investors and hedge funds own 91.30% of the company's stock.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill, Inc NYSE: CMG operates a chain of fast-casual restaurants focused on Mexican-inspired food. Its menu includes burritos, burrito bowls, tacos, quesadillas and salads, with options such as chicken, steak, barbacoa, carnitas, sofritas and vegetables. The company emphasizes preparing food in its restaurants from ingredients it describes as responsibly sourced, including meats raised with attention to animal welfare and produce from selected suppliers.

Founded by Steve Ells in 1993, Chipotle opened its first restaurant in Denver, Colorado.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.