Truist Financial Issues Positive Forecast for Chipotle Mexican Grill (NYSE:CMG) Stock Price

Chipotle Mexican Grill (NYSE:CMG) had its price target increased by research analysts at Truist Financial from $45.00 to $50.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the restaurant operator’s stock. Truist Financial’s price target would indicate a potential upside of 26.60% from the company’s previous close.

CMG has been the subject of several other research reports. Evercore ISI reissued an “outperform” rating and issued a $45.00 price target on shares of Chipotle Mexican Grill in a report on Friday, December 19th. BTIG Research cut their price objective on Chipotle Mexican Grill from $57.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. JPMorgan Chase & Co. decreased their price target on shares of Chipotle Mexican Grill from $44.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, October 30th. Sanford C. Bernstein raised their target price on shares of Chipotle Mexican Grill from $40.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Chipotle Mexican Grill in a research report on Thursday, December 18th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $49.93.

Chipotle Mexican Grill Trading Up 1.6%

Shares of Chipotle Mexican Grill stock traded up $0.63 during midday trading on Thursday, reaching $39.50. The company had a trading volume of 4,365,281 shares, compared to its average volume of 13,112,973. Chipotle Mexican Grill has a 1-year low of $29.75 and a 1-year high of $59.57. The company has a market capitalization of $52.22 billion, a price-to-earnings ratio of 34.94, a price-to-earnings-growth ratio of 3.77 and a beta of 0.97. The stock has a fifty day simple moving average of $34.27 and a 200 day simple moving average of $41.17.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings results on Wednesday, October 29th. The restaurant operator reported $0.29 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.29. Chipotle Mexican Grill had a return on equity of 45.39% and a net margin of 13.04%.The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter in the prior year, the business posted $0.27 EPS. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. Sell-side analysts expect that Chipotle Mexican Grill will post 1.29 earnings per share for the current year.

Institutional Investors Weigh In On Chipotle Mexican Grill

Institutional investors and hedge funds have recently made changes to their positions in the stock. Revolve Wealth Partners LLC boosted its holdings in shares of Chipotle Mexican Grill by 4.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 4,804 shares of the restaurant operator’s stock worth $290,000 after buying an additional 214 shares in the last quarter. Bison Wealth LLC purchased a new stake in Chipotle Mexican Grill during the fourth quarter valued at about $224,000. Integrated Wealth Concepts LLC lifted its holdings in Chipotle Mexican Grill by 13.9% during the 1st quarter. Integrated Wealth Concepts LLC now owns 24,490 shares of the restaurant operator’s stock worth $1,230,000 after purchasing an additional 2,991 shares in the last quarter. Ashton Thomas Private Wealth LLC increased its holdings in shares of Chipotle Mexican Grill by 48.7% in the first quarter. Ashton Thomas Private Wealth LLC now owns 9,016 shares of the restaurant operator’s stock worth $453,000 after purchasing an additional 2,954 shares during the period. Finally, Ascent Group LLC purchased a new stake in Chipotle Mexican Grill in the first quarter valued at approximately $279,000. Institutional investors and hedge funds own 91.30% of the company’s stock.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill is a fast-casual restaurant company known for its Mexican-inspired menu of burritos, bowls, tacos and salads. Founded in 1993 by Steve Ells, the chain emphasizes fresh, customizable meals made from a limited menu of core ingredients and a focus on ingredient quality. Chipotle operates primarily company-owned restaurants and offers dine-in, takeout, catering and delivery through its own digital platforms and third-party partners.

The company is headquartered in Newport Beach, California, and traces its roots to Denver, Colorado.