KeyCorp Increases Chipotle Mexican Grill (NYSE:CMG) Price Target to $1,900.00

Chipotle Mexican Grill (NYSE:CMG – Get Rating) had its price objective lifted by stock analysts at KeyCorp from $1,850.00 to $1,900.00 in a research note issued on Thursday, The Fly reports. KeyCorp’s price objective would suggest a potential upside of 19.50% from the stock’s current price.

A number of other equities research analysts also recently issued reports on CMG. Deutsche Bank Aktiengesellschaft cut their price target on Chipotle Mexican Grill from $1,747.00 to $1,696.00 and set a “hold” rating for the company in a research note on Wednesday, February 9th. Piper Sandler cut their price target on Chipotle Mexican Grill from $2,600.00 to $2,500.00 and set an “overweight” rating for the company in a research note on Monday, March 14th. Barclays cut their price target on Chipotle Mexican Grill from $1,845.00 to $1,630.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 9th. Gordon Haskett upgraded Chipotle Mexican Grill from a “hold” rating to a “buy” rating and cut their price target for the company from $1,800.00 to $1,750.00 in a research note on Wednesday, January 26th. Finally, JPMorgan Chase & Co. boosted their price objective on Chipotle Mexican Grill from $1,710.00 to $1,750.00 and gave the company a “neutral” rating in a research note on Friday, December 17th. Seven equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $1,975.69.

NYSE CMG opened at $1,590.00 on Thursday. Chipotle Mexican Grill has a one year low of $1,277.41 and a one year high of $1,958.55. The stock has a 50-day moving average of $1,522.79 and a 200 day moving average of $1,636.06. The company has a market capitalization of $44.55 billion, a price-to-earnings ratio of 69.37, a PEG ratio of 2.45 and a beta of 1.31.

Chipotle Mexican Grill (NYSE:CMG – Get Rating) last released its quarterly earnings results on Tuesday, February 8th. The restaurant operator reported $5.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $5.18 by $0.40. The business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.96 billion. Chipotle Mexican Grill had a return on equity of 32.65% and a net margin of 8.65%. The business’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same period in the previous year, the company posted $3.48 EPS. On average, equities research analysts anticipate that Chipotle Mexican Grill will post 31.3 EPS for the current year.

In other news, insider Marissa Andrada sold 1,456 shares of the company’s stock in a transaction that occurred on Friday, March 11th. The stock was sold at an average price of $1,480.76, for a total transaction of $2,155,986.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.00% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Benjamin Edwards Inc. bought a new position in shares of Chipotle Mexican Grill during the 4th quarter valued at approximately $28,000. Confluence Wealth Services Inc. bought a new position in shares of Chipotle Mexican Grill during the 4th quarter valued at approximately $27,000. James Reed Financial Services Inc. bought a new position in shares of Chipotle Mexican Grill during the 4th quarter valued at approximately $27,000. Wolff Wiese Magana LLC increased its position in shares of Chipotle Mexican Grill by 1,700.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 18 shares of the restaurant operator’s stock valued at $33,000 after purchasing an additional 17 shares during the last quarter. Finally, Equitec Proprietary Markets LLC bought a new position in shares of Chipotle Mexican Grill during the 4th quarter valued at approximately $31,000. 89.90% of the stock is currently owned by institutional investors and hedge funds.

About Chipotle Mexican Grill (Get Rating)

Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. As of February 15, 2022, it owned and operated approximately 3,000 restaurants in the United States, Canada, the United Kingdom, France, Germany, and rest of Europe. The company was founded in 1993 and is headquartered in Newport Beach, California.

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