Cowen Raises Chipotle Mexican Grill (NYSE:CMG) Price Target to $660.00

Chipotle Mexican Grill (NYSE:CMG) had its target price raised by Cowen from $640.00 to $660.00 in a note issued to investors on Thursday, April 18th, The Fly reports. The firm currently has a “market perform” rating on the restaurant operator’s stock. Cowen’s price target indicates a potential downside of 6.44% from the stock’s previous close.

Several other analysts have also issued reports on CMG. Maxim Group reiterated a “hold” rating and set a $510.00 price objective on shares of Chipotle Mexican Grill in a report on Wednesday, January 16th. Piper Jaffray Companies increased their price objective on Chipotle Mexican Grill from $661.00 to $725.00 and gave the stock an “overweight” rating in a report on Monday, March 18th. BTIG Research increased their price objective on Chipotle Mexican Grill from $620.00 to $700.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Telsey Advisory Group restated an “outperform” rating and set a $500.00 target price (up from $465.00) on shares of Chipotle Mexican Grill in a report on Friday, January 11th. Finally, Robert W. Baird raised their target price on Chipotle Mexican Grill from $525.00 to $560.00 and gave the company an “average” rating in a report on Wednesday, January 16th. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Chipotle Mexican Grill currently has an average rating of “Hold” and an average price target of $642.96.

Shares of Chipotle Mexican Grill stock traded up $0.31 on Thursday, reaching $705.44. 520,798 shares of the company were exchanged, compared to its average volume of 619,818. Chipotle Mexican Grill has a 1-year low of $383.20 and a 1-year high of $721.42. The stock has a market capitalization of $19.54 billion, a price-to-earnings ratio of 77.86, a PEG ratio of 2.83 and a beta of 0.64.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings results on Wednesday, April 24th. The restaurant operator reported $3.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.01 by $0.39. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.27 billion. Chipotle Mexican Grill had a return on equity of 19.78% and a net margin of 4.08%. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period last year, the company posted $2.13 EPS. As a group, research analysts forecast that Chipotle Mexican Grill will post 12.97 EPS for the current year.

In other Chipotle Mexican Grill news, CFO Jack Hartung sold 4,907 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $625.21, for a total transaction of $3,067,905.47. Following the completion of the sale, the chief financial officer now owns 45,237 shares in the company, valued at approximately $28,282,624.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Pershing Square Capital Manage sold 20,000 shares of the company’s stock in a transaction on Tuesday, February 12th. The shares were sold at an average price of $594.65, for a total transaction of $11,893,000.00. The disclosure for this sale can be found here. Insiders sold a total of 51,788 shares of company stock valued at $31,629,459 in the last 90 days. 2.21% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the business. Jennison Associates LLC grew its holdings in shares of Chipotle Mexican Grill by 6.6% in the 1st quarter. Jennison Associates LLC now owns 862,319 shares of the restaurant operator’s stock valued at $612,514,000 after buying an additional 53,501 shares during the period. AlphaCrest Capital Management LLC acquired a new position in shares of Chipotle Mexican Grill in the 1st quarter valued at $580,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of Chipotle Mexican Grill in the 1st quarter valued at $573,000. Ontario Teachers Pension Plan Board acquired a new position in shares of Chipotle Mexican Grill in the 1st quarter valued at $688,000. Finally, Rockefeller Capital Management L.P. acquired a new position in shares of Chipotle Mexican Grill in the 1st quarter valued at $144,000. Institutional investors own 93.08% of the company’s stock.

About Chipotle Mexican Grill

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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