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

Chipotle Mexican Grill (NYSE:CMG) had its price objective increased by Royal Bank of Canada from $510.00 to $550.00 in a research note issued to investors on Thursday morning, MarketBeat reports. They currently have an outperform rating on the restaurant operator’s stock.

Other equities research analysts also recently issued research reports about the stock. UBS Group set a $370.00 price objective on shares of Chipotle Mexican Grill and gave the company a sell rating in a research report on Monday, October 22nd. Wells Fargo & Co boosted their price objective on shares of Chipotle Mexican Grill from $415.00 to $420.00 and gave the company a market perform rating in a research report on Friday, October 26th. TheStreet downgraded shares of Chipotle Mexican Grill from a b- rating to a c rating in a research report on Thursday, October 25th. Piper Jaffray Companies set a $550.00 price objective on shares of Chipotle Mexican Grill and gave the company a buy rating in a research report on Monday, October 22nd. Finally, Gordon Haskett began coverage on shares of Chipotle Mexican Grill in a research report on Thursday, October 18th. They set an underperform rating and a $385.00 price objective for the company. Ten equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $435.91.

CMG traded down $2.67 during mid-day trading on Thursday, reaching $506.95. 785,191 shares of the company traded hands, compared to its average volume of 826,624. The firm has a market cap of $13.85 billion, a PE ratio of 76.81, a P/E/G ratio of 2.34 and a beta of 0.33. Chipotle Mexican Grill has a 52-week low of $247.51 and a 52-week high of $530.68.

Chipotle Mexican Grill (NYSE:CMG) last announced its earnings results on Thursday, October 25th. The restaurant operator reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.16. Chipotle Mexican Grill had a net margin of 3.96% and a return on equity of 17.14%. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.23 billion. Research analysts expect that Chipotle Mexican Grill will post 8.46 earnings per share for the current fiscal year.

In other Chipotle Mexican Grill news, Director Pershing Square Capital Manage sold 118,307 shares of the business’s stock in a transaction 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 legal filing with the SEC, which is accessible through this hyperlink. 2.19% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cornerstone Wealth Management LLC raised its position in shares of Chipotle Mexican Grill by 17.1% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 35,254 shares of the restaurant operator’s stock valued at $116,000 after buying an additional 5,142 shares in the last quarter. Korea Investment CORP raised its position in shares of Chipotle Mexican Grill by 45.4% during the 3rd quarter. Korea Investment CORP now owns 391 shares of the restaurant operator’s stock valued at $178,000 after buying an additional 122 shares in the last quarter. First Hawaiian Bank raised its position in shares of Chipotle Mexican Grill by 4.5% during the 4th quarter. First Hawaiian Bank now owns 465 shares of the restaurant operator’s stock valued at $201,000 after buying an additional 20 shares in the last quarter. Magellan Asset Management Ltd raised its position in shares of Chipotle Mexican Grill by 710.5% during the 3rd quarter. Magellan Asset Management Ltd now owns 462 shares of the restaurant operator’s stock valued at $210,000 after buying an additional 405 shares in the last quarter. Finally, Global Retirement Partners LLC raised its position in shares of Chipotle Mexican Grill by 348.1% during the 3rd quarter. Global Retirement Partners LLC now owns 484 shares of the restaurant operator’s stock valued at $220,000 after buying an additional 376 shares in the last quarter. Hedge funds and other institutional investors own 91.25% of the company’s stock.

Chipotle Mexican Grill Company Profile

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.

Further Reading: Systematic Risk and Investors

Analyst Recommendations for Chipotle Mexican Grill (NYSE:CMG)

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