Chipotle Mexican Grill (CMG) Price Target Increased to $525.00 by Analysts at Oppenheimer

Chipotle Mexican Grill (NYSE:CMG) had its target price increased by Oppenheimer from $400.00 to $525.00 in a research note published on Thursday morning, The Fly reports. The firm currently has an underperform rating on the restaurant operator’s stock. Oppenheimer also issued estimates for Chipotle Mexican Grill’s Q3 2019 earnings at $3.05 EPS and Q4 2019 earnings at $2.79 EPS.

CMG has been the topic of a number of other reports. Zacks Investment Research downgraded shares of Chipotle Mexican Grill from a hold rating to a sell rating in a research note on Thursday, January 3rd. Telsey Advisory Group restated an outperform rating and issued a $700.00 price target (up from $600.00) on shares of Chipotle Mexican Grill in a research note on Thursday, April 18th. Wells Fargo & Co raised their price target on shares of Chipotle Mexican Grill from $420.00 to $464.00 and gave the company a market perform rating in a research note on Friday, January 11th. Loop Capital raised their price target on shares of Chipotle Mexican Grill to $630.00 and gave the company a positive rating in a research note on Thursday, February 7th. Finally, Wedbush upgraded shares of Chipotle Mexican Grill from an underperform rating to a neutral rating and raised their price target for the company from $500.00 to $640.00 in a research note on Friday, March 22nd. Six investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Chipotle Mexican Grill presently has a consensus rating of Hold and an average price target of $626.29.

Chipotle Mexican Grill stock traded down $1.28 during trading hours on Thursday, reaching $676.79. 765,993 shares of the stock were exchanged, compared to its average volume of 661,687. The company has a market capitalization of $18.76 billion, a price-to-earnings ratio of 74.70, a PEG ratio of 3.00 and a beta of 0.68. Chipotle Mexican Grill has a twelve month low of $383.20 and a twelve month high of $721.21.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data on Wednesday, April 24th. The restaurant operator reported $3.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.01 by $0.39. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.27 billion. Chipotle Mexican Grill had a net margin of 4.08% and a return on equity of 19.78%. The business’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.13 earnings per share. On average, research analysts forecast that Chipotle Mexican Grill will post 12.9 earnings per share for the current year.

In other Chipotle Mexican Grill news, Director Pershing Square Capital Manage sold 11,980 shares of the firm’s stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $602.45, for a total transaction of $7,217,351.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jack Hartung sold 7,150 shares of the firm’s stock in a transaction that occurred on Tuesday, February 12th. The stock was sold at an average price of $606.77, for a total transaction of $4,338,405.50. Following the transaction, the chief financial officer now owns 45,237 shares of the company’s stock, valued at approximately $27,448,454.49. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,788 shares of company stock valued at $31,629,459. 2.21% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in Chipotle Mexican Grill by 5.3% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,276 shares of the restaurant operator’s stock worth $2,327,000 after purchasing an additional 166 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Chipotle Mexican Grill by 5.0% in the 1st quarter. Daiwa Securities Group Inc. now owns 1,250 shares of the restaurant operator’s stock worth $888,000 after purchasing an additional 60 shares during the period. World Asset Management Inc boosted its holdings in shares of Chipotle Mexican Grill by 6.0% in the 1st quarter. World Asset Management Inc now owns 1,797 shares of the restaurant operator’s stock worth $1,276,000 after purchasing an additional 101 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in shares of Chipotle Mexican Grill by 9.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 9,996 shares of the restaurant operator’s stock worth $7,100,000 after purchasing an additional 834 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its holdings in shares of Chipotle Mexican Grill by 4.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 458 shares of the restaurant operator’s stock worth $325,000 after purchasing an additional 18 shares during the period. Hedge funds and other institutional investors own 93.07% 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 December 31, 2018, it operated 2,491 restaurants, including 2,452 Chipotle restaurants in the United States, 37 Chipotle restaurants internationally, and two non-Chipotle restaurants. The company was founded in 1993 and is headquartered in Newport Beach, California.

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