Chipotle Mexican Grill (NYSE:CMG) Upgraded to “Outperform” by Royal Bank of Canada


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Chipotle Mexican Grill (NYSE:CMG) was upgraded by investment analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research report issued on Thursday, AnalystRatings.net reports. The firm currently has a $1,650.00 price objective on the restaurant operator’s stock, up from their previous price objective of $1,320.00. Royal Bank of Canada’s price objective would indicate a potential upside of 18.28% from the company’s previous close.

Several other research analysts also recently commented on the company. Truist decreased their price objective on Chipotle Mexican Grill from $1,580.00 to $1,520.00 in a report on Thursday, October 22nd. Loop Capital lifted their price objective on Chipotle Mexican Grill from $1,400.00 to $1,600.00 and gave the stock a “buy” rating in a report on Tuesday, October 20th. BMO Capital Markets lifted their price objective on Chipotle Mexican Grill from $1,050.00 to $1,200.00 and gave the stock a “market perform” rating in a report on Thursday, October 22nd. Raymond James reiterated a “hold” rating on shares of Chipotle Mexican Grill in a report on Friday, September 18th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Chipotle Mexican Grill from $1,155.00 to $1,235.00 and gave the company a “hold” rating in a report on Thursday, October 22nd. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Chipotle Mexican Grill presently has an average rating of “Buy” and an average target price of $1,342.78.

Shares of CMG stock opened at $1,395.00 on Thursday. The business has a 50-day moving average price of $1,357.73 and a two-hundred day moving average price of $1,259.72. Chipotle Mexican Grill has a 12-month low of $415.00 and a 12-month high of $1,435.52. The firm has a market cap of $39.03 billion, a P/E ratio of 166.87, a price-to-earnings-growth ratio of 3.22 and a beta of 1.31.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings data on Wednesday, October 21st. The restaurant operator reported $3.76 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.44 by $0.32. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. Chipotle Mexican Grill had a return on equity of 16.70% and a net margin of 4.08%. The company’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.82 earnings per share. On average, equities analysts expect that Chipotle Mexican Grill will post 10.94 earnings per share for the current fiscal year.

In other news, insider Roger E. Theodoredis sold 2,651 shares of the business’s stock in a transaction that occurred on Tuesday, November 17th. The stock was sold at an average price of $1,267.17, for a total value of $3,359,267.67. Following the sale, the insider now directly owns 4,293 shares of the company’s stock, valued at approximately $5,439,960.81. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Pershing Square Capital Manage sold 37,548 shares of the business’s stock in a transaction that occurred on Monday, January 4th. The stock was sold at an average price of $1,333.29, for a total value of $50,062,372.92. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Scotia Capital Inc. lifted its position in Chipotle Mexican Grill by 9.4% in the 3rd quarter. Scotia Capital Inc. now owns 232 shares of the restaurant operator’s stock valued at $289,000 after acquiring an additional 20 shares in the last quarter. Shellback Capital LP bought a new position in Chipotle Mexican Grill in the 3rd quarter valued at approximately $3,731,000. Barings LLC bought a new position in Chipotle Mexican Grill in the 3rd quarter valued at approximately $1,003,000. Cubist Systematic Strategies LLC lifted its position in Chipotle Mexican Grill by 257.2% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 16,264 shares of the restaurant operator’s stock valued at $20,228,000 after acquiring an additional 11,711 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its stake in Chipotle Mexican Grill by 26.0% during the 3rd quarter. Teacher Retirement System of Texas now owns 15,472 shares of the restaurant operator’s stock valued at $19,243,000 after buying an additional 3,196 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc, together with its subsidiaries, operates Chipotle Mexican Grill restaurants. As of September 30, 2020, it operated approximately 2,700 restaurants in the United States, Canada, the United Kingdom, France, and Germany. 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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