Chipotle Mexican Grill (CMG) Price Target Raised to $550.00 at Royal Bank of Canada

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Chipotle Mexican Grill (NYSE:CMG) had its price target boosted by investment analysts at Royal Bank of Canada from $510.00 to $550.00 in a research report issued on Thursday, Marketbeat Ratings reports. The firm currently has an “outperform” rating on the restaurant operator’s stock. Royal Bank of Canada’s price objective points to a potential upside of 8.49% from the stock’s current price.

Several other analysts have also commented on the stock. KeyCorp reissued an “overweight” rating and set a $525.00 price target (up from $500.00) on shares of Chipotle Mexican Grill in a research report on Tuesday. Zacks Investment Research lowered shares of Chipotle Mexican Grill from a “hold” rating to a “sell” rating in a research report on Thursday, January 3rd. Robert W. Baird reissued a “buy” rating and set a $525.00 price target on shares of Chipotle Mexican Grill in a research report on Thursday, January 3rd. Wedbush reissued an “underperform” rating on shares of Chipotle Mexican Grill in a research report on Thursday, December 20th. Finally, Canaccord Genuity reissued a “hold” rating on shares of Chipotle Mexican Grill in a research report on Wednesday, November 14th. Ten investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and fifteen have issued a buy rating to the company’s stock. Chipotle Mexican Grill currently has a consensus rating of “Hold” and a consensus target price of $435.91.

CMG stock opened at $506.95 on Thursday. The stock has a market cap of $13.85 billion, a price-to-earnings ratio of 76.81, a PEG ratio of 2.34 and a beta of 0.33. Chipotle Mexican Grill has a one year low of $247.51 and a one year high of $530.68.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings results on Thursday, October 25th. The restaurant operator reported $2.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.00 by $0.16. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.23 billion. Chipotle Mexican Grill had a net margin of 3.96% and a return on equity of 17.14%. As a group, equities research analysts predict that Chipotle Mexican Grill will post 8.46 EPS for the current year.

In related news, Director Pershing Square Capital Manage sold 118,307 shares of the stock in a transaction that occurred on Tuesday, November 6th. The shares were sold at an average price of $472.05, for a total value of $55,846,819.35. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.19% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of CMG. Renaissance Technologies LLC increased its holdings in Chipotle Mexican Grill by 255.0% in the 3rd quarter. Renaissance Technologies LLC now owns 792,000 shares of the restaurant operator’s stock worth $359,980,000 after buying an additional 568,900 shares during the period. Capital International Investors boosted its position in Chipotle Mexican Grill by 220.1% in the 3rd quarter. Capital International Investors now owns 738,410 shares of the restaurant operator’s stock worth $335,622,000 after purchasing an additional 507,700 shares in the last quarter. Baillie Gifford & Co. purchased a new stake in Chipotle Mexican Grill in the 3rd quarter worth approximately $229,937,000. Jennison Associates LLC boosted its position in Chipotle Mexican Grill by 128.5% in the 3rd quarter. Jennison Associates LLC now owns 830,269 shares of the restaurant operator’s stock worth $377,374,000 after purchasing an additional 466,849 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in Chipotle Mexican Grill by 2,464.4% in the 3rd quarter. AQR Capital Management LLC now owns 218,202 shares of the restaurant operator’s stock worth $99,177,000 after purchasing an additional 209,693 shares in the last quarter. Institutional investors own 91.25% of the company’s stock.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc, together with its subsidiaries, operates Chipotle Mexican Grill restaurants. As of September 30, 2018, it operated 2,424 Chipotle restaurants in the United States, as well as 37 international Chipotle restaurants. The company was founded in 1993 and is headquartered in Newport Beach, California.

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Analyst Recommendations for Chipotle Mexican Grill (NYSE:CMG)

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