Chipotle Mexican Grill (NYSE:CMG) Stock Jumps 6.3% – Here’s Why

Chipotle Mexican Grill, Inc. (NYSE:CMG) shares rose 6.3% on Thursday. The stock traded as high as $31.16 and last traded at $32.7060. 963,591 shares traded hands during trading, a decline of 94% from the average session volume of 17,313,570 shares. The stock had previously closed at $30.77.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Morgan Stanley boosted their price objective on shares of Chipotle Mexican Grill from $37.00 to $39.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. UBS Group reissued a “buy” rating on shares of Chipotle Mexican Grill in a research note on Friday, July 31st. Argus boosted their price target on Chipotle Mexican Grill from $40.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Robert W. Baird reaffirmed a “neutral” rating and set a $40.00 price target (down from $44.00) on shares of Chipotle Mexican Grill in a research report on Monday, August 24th. Finally, DA Davidson increased their price objective on Chipotle Mexican Grill from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Twenty-three equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $43.91.

Chipotle Mexican Grill Trading Up 6.5%

The company’s fifty day simple moving average is $34.61 and its 200 day simple moving average is $33.55. The firm has a market capitalization of $41.46 billion, a P/E ratio of 30.07, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96.

Chipotle Mexican Grill (NYSE:CMG) last announced its earnings results on Wednesday, July 29th. The restaurant operator reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. Chipotle Mexican Grill had a net margin of 11.43% and a return on equity of 54.65%. The firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same quarter in the previous year, the firm posted $0.33 EPS. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, analysts predict that Chipotle Mexican Grill, Inc. will post 1.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Chipotle Mexican Grill news, insider Matthew R. Bush sold 2,675 shares of Chipotle Mexican Grill stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $35.75, for a total transaction of $95,631.25. Following the sale, the insider directly owned 21,415 shares of the company’s stock, valued at approximately $765,586.25. The trade was a 11.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.45% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. MV Capital Management Inc. purchased a new position in shares of Chipotle Mexican Grill in the 4th quarter valued at approximately $26,000. Osbon Capital Management LLC bought a new position in Chipotle Mexican Grill in the second quarter worth $26,000. Meeder Asset Management Inc. bought a new position in Chipotle Mexican Grill in the second quarter worth $27,000. Merkkuri Wealth Advisors LLC purchased a new position in Chipotle Mexican Grill during the first quarter valued at $28,000. Finally, Kelleher Financial Advisors purchased a new position in Chipotle Mexican Grill during the second quarter valued at $28,000. Institutional investors own 91.30% of the company’s stock.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc is a fast-casual restaurant company that specializes in Mexican-inspired food made with a limited number of core ingredients. Its menu includes burritos, burrito bowls, tacos, quesadillas, salads and sides, with options such as chicken, steak, barbacoa, carnitas, sofritas and vegetables. The company also offers beverages, including soft drinks and other drinks, and allows customers to customize meals.

Founded by Steve Ells in 1993, Chipotle operates company-owned restaurants under the Chipotle Mexican Grill brand.