Truist Financial Forecasts Strong Price Appreciation for Chipotle Mexican Grill (NYSE:CMG) Stock

Chipotle Mexican Grill (NYSE:CMG) had its price target lifted by analysts at Truist Financial from $63.00 to $64.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the restaurant operator’s stock. Truist Financial’s target price suggests a potential upside of 13.46% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Redburn Atlantic assumed coverage on Chipotle Mexican Grill in a research report on Tuesday, June 10th. They set a “neutral” rating and a $55.00 target price on the stock. Piper Sandler cut their price target on Chipotle Mexican Grill from $59.00 to $52.00 and set a “neutral” rating for the company in a report on Thursday, April 24th. Robert W. Baird boosted their price objective on Chipotle Mexican Grill from $58.00 to $62.00 and gave the company an “outperform” rating in a research report on Wednesday, July 2nd. Guggenheim set a $47.00 price objective on Chipotle Mexican Grill in a research report on Friday, April 25th. Finally, Royal Bank Of Canada lowered their price objective on Chipotle Mexican Grill from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. Nine analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $61.25.

Chipotle Mexican Grill Stock Performance

CMG opened at $56.41 on Wednesday. The business has a 50 day moving average price of $52.49 and a 200 day moving average price of $53.22. Chipotle Mexican Grill has a twelve month low of $44.46 and a twelve month high of $66.74. The firm has a market cap of $76.00 billion, a P/E ratio of 49.92, a price-to-earnings-growth ratio of 2.77 and a beta of 1.08.

Chipotle Mexican Grill (NYSE:CMG) last announced its earnings results on Wednesday, April 23rd. The restaurant operator reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. Chipotle Mexican Grill had a net margin of 13.59% and a return on equity of 43.29%. The business had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same quarter in the previous year, the firm posted $13.37 earnings per share. Chipotle Mexican Grill’s revenue was up 6.4% compared to the same quarter last year. As a group, analysts anticipate that Chipotle Mexican Grill will post 1.29 earnings per share for the current fiscal year.

Insider Activity

In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 113,875 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $49.70, for a total transaction of $5,659,587.50. Following the sale, the insider owned 109,815 shares of the company’s stock, valued at $5,457,805.50. This represents a 50.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.81% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Chipotle Mexican Grill

A number of hedge funds have recently added to or reduced their stakes in CMG. Norges Bank bought a new stake in Chipotle Mexican Grill during the 4th quarter worth about $1,093,345,000. Nuveen LLC bought a new stake in Chipotle Mexican Grill during the 1st quarter worth about $535,023,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in Chipotle Mexican Grill by 4,138,574.1% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 8,318,735 shares of the restaurant operator’s stock worth $501,620,000 after acquiring an additional 8,318,534 shares during the last quarter. Alliancebernstein L.P. grew its holdings in Chipotle Mexican Grill by 29.5% during the 4th quarter. Alliancebernstein L.P. now owns 30,100,520 shares of the restaurant operator’s stock worth $1,815,061,000 after acquiring an additional 6,853,470 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Chipotle Mexican Grill by 98.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,900,521 shares of the restaurant operator’s stock valued at $497,105,000 after purchasing an additional 4,903,969 shares during the period. Institutional investors own 91.31% of the company’s stock.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. It sells food and beverages through offering burritos, burrito bowls, quesadillas, tacos, and salads. The company also provides delivery and related services its app and website. It has operations in the United States, Canada, France, Germany, and the United Kingdom.