Truist Securiti Increases Chipotle Mexican Grill (NYSE:CMG) Price Target to $1,750.00

Chipotle Mexican Grill (NYSE:CMG) had its price target increased by investment analysts at Truist Securiti from $1,700.00 to $1,750.00 in a research report issued on Tuesday, The Fly reports. Truist Securiti’s target price would suggest a potential upside of 16.67% from the company’s previous close. Truist Securiti also issued estimates for Chipotle Mexican Grill’s Q2 2021 earnings at $8.83 EPS, Q3 2021 earnings at $7.24 EPS, Q4 2021 earnings at $6.55 EPS, FY2021 earnings at $27.55 EPS and FY2022 earnings at $35.10 EPS.

CMG has been the subject of a number of other research reports. Stifel Nicolaus upgraded Chipotle Mexican Grill from a “hold” rating to a “buy” rating and boosted their price objective for the company from $1,400.00 to $1,500.00 in a research report on Wednesday, December 16th. Telsey Advisory Group boosted their price objective on Chipotle Mexican Grill from $1,350.00 to $1,600.00 and gave the company a “market perform” rating in a research report on Wednesday, February 3rd. BMO Capital Markets reiterated a “market perform” rating and set a $1,415.00 price target (up previously from $1,200.00) on shares of Chipotle Mexican Grill in a research report on Wednesday, February 3rd. Piper Sandler reiterated an “overweight” rating and set a $2,000.00 price target (up previously from $1,835.00) on shares of Chipotle Mexican Grill in a research report on Monday, February 1st. Finally, Truist boosted their price target on Chipotle Mexican Grill from $1,700.00 to $1,750.00 and gave the stock a “buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twenty have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $1,525.67.

CMG stock opened at $1,500.02 on Tuesday. Chipotle Mexican Grill has a 52-week low of $700.00 and a 52-week high of $1,564.91. The stock’s 50 day moving average is $1,434.83 and its two-hundred day moving average is $1,371.74. The company has a market capitalization of $42.22 billion, a PE ratio of 179.43, a P/E/G ratio of 3.21 and a beta of 1.31.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Monday, February 1st. The restaurant operator reported $3.48 EPS for the quarter, missing the consensus estimate of $3.73 by ($0.25). The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.60 billion. Chipotle Mexican Grill had a return on equity of 16.70% and a net margin of 4.08%. Chipotle Mexican Grill’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.86 EPS. Equities research analysts anticipate that Chipotle Mexican Grill will post 10.96 EPS for the current fiscal year.

In other news, insider Scott Boatwright sold 5,822 shares of the company’s stock in a transaction dated Thursday, February 4th. The stock was sold at an average price of $1,497.75, for a total transaction of $8,719,900.50. Following the completion of the sale, the insider now owns 9,551 shares in the company, valued at approximately $14,305,010.25. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Brian R. Niccol sold 4,757 shares of the business’s stock in a transaction dated Monday, March 8th. The stock was sold at an average price of $1,311.22, for a total value of $6,237,473.54. Following the transaction, the chief executive officer now directly owns 47,044 shares of the company’s stock, valued at approximately $61,685,033.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,572 shares of company stock valued at $25,493,143. 1.00% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of CMG. Alpha DNA Investment Management LLC acquired a new position in shares of Chipotle Mexican Grill during the 4th quarter worth about $27,000. Black Swift Group LLC acquired a new position in shares of Chipotle Mexican Grill during the 4th quarter worth about $28,000. Avion Wealth acquired a new position in Chipotle Mexican Grill in the 4th quarter valued at approximately $35,000. Kathmere Capital Management LLC bought a new stake in shares of Chipotle Mexican Grill in the 3rd quarter worth approximately $40,000. Finally, Childress Capital Advisors LLC acquired a new stake in shares of Chipotle Mexican Grill during the 4th quarter worth approximately $40,000. 90.03% 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. As of December 31, 2020, it owned and operated 2,724 Chipotle restaurants in the United States, 40 international Chipotle restaurants, and 4 non-Chipotle restaurants. The company was founded in 1993 and is headquartered in Newport Beach, California.

See Also: Accumulation/Distribution

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