Argus Increases Chipotle Mexican Grill (NYSE:CMG) Price Target to $2,200.00

Chipotle Mexican Grill (NYSE:CMG) had its target price hoisted by analysts at Argus from $2,110.00 to $2,200.00 in a report released on Friday, The Fly reports. The firm presently has a “buy” rating on the restaurant operator’s stock. Argus’ price objective indicates a potential upside of 13.56% from the stock’s previous close.

A number of other brokerages have also issued reports on CMG. Deutsche Bank Aktiengesellschaft lifted their price target on Chipotle Mexican Grill from $1,495.00 to $1,630.00 and gave the stock a “hold” rating in a research note on Thursday, July 22nd. BTIG Research lifted their price target on Chipotle Mexican Grill from $1,850.00 to $2,150.00 and gave the stock a “buy” rating in a research note on Wednesday, September 8th. Stephens lifted their price target on Chipotle Mexican Grill from $1,700.00 to $1,850.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 21st. UBS Group boosted their price objective on Chipotle Mexican Grill from $1,700.00 to $1,850.00 and gave the stock a “buy” rating in a research note on Wednesday, July 21st. Finally, Robert W. Baird reissued a “buy” rating on shares of Chipotle Mexican Grill in a research note on Wednesday, September 15th. Nine analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $1,822.86.

Shares of CMG opened at $1,937.22 on Friday. Chipotle Mexican Grill has a 12 month low of $1,172.29 and a 12 month high of $1,958.55. The stock’s 50 day moving average is $1,870.48 and its two-hundred day moving average is $1,596.30. The firm has a market cap of $54.43 billion, a P/E ratio of 94.22, a PEG ratio of 3.73 and a beta of 1.36.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings data on Monday, July 19th. The restaurant operator reported $7.46 EPS for the quarter, beating the consensus estimate of $6.52 by $0.94. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.88 billion. Chipotle Mexican Grill had a return on equity of 28.27% and a net margin of 8.57%. Chipotle Mexican Grill’s quarterly revenue was up 38.7% compared to the same quarter last year. During the same period last year, the company earned $0.40 earnings per share. On average, analysts anticipate that Chipotle Mexican Grill will post 25.48 earnings per share for the current fiscal year.

In related news, Director Pershing Square Capital Manage bought 25,430 shares of the stock in a transaction that occurred on Tuesday, September 7th. The stock was purchased at an average cost of $1,909.68 per share, with a total value of $48,563,162.40. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Albert S. Baldocchi sold 263 shares of the business’s stock in a transaction on Thursday, July 22nd. The stock was sold at an average price of $1,781.68, for a total value of $468,581.84. Following the transaction, the director now directly owns 38,571 shares of the company’s stock, valued at $68,721,179.28. The disclosure for this sale can be found here. Insiders sold a total of 40,408 shares of company stock worth $72,494,297 in the last quarter. Company insiders own 1.00% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Baldrige Asset Management LLC acquired a new position in shares of Chipotle Mexican Grill during the 2nd quarter worth about $31,000. Heritage Wealth Advisors acquired a new position in shares of Chipotle Mexican Grill during the 2nd quarter worth about $31,000. Financial Insights Inc. acquired a new position in shares of Chipotle Mexican Grill during the 2nd quarter worth about $39,000. Wolverine Asset Management LLC acquired a new position in shares of Chipotle Mexican Grill during the 1st quarter worth about $41,000. Finally, Knuff & Co LLC acquired a new position in shares of Chipotle Mexican Grill during the 2nd quarter worth about $65,000. 90.32% of the stock is owned by institutional investors and hedge funds.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill, Inc engages in the development and operation of classically-cooked, real food with wholesome ingredients without artificial colors, flavors or preservatives. It offers focused menu of burritos, tacos, burrito bowls, and salads prepared using classic cooking methods. The company was founded by Steve Ells in 1993 and is headquartered in Newport Beach, CA.

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