Chipotle Mexican Grill, Inc. (CMG) Price Target Cut to $420.00 by Analysts at Maxim Group
Chipotle Mexican Grill, Inc. (NYSE:CMG) had its price target lowered by investment analysts at Maxim Group from $435.00 to $420.00 in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The brokerage currently has a “buy” rating on the restaurant operator’s stock. Maxim Group’s target price indicates a potential upside of 29.33% from the stock’s previous close.
Other analysts have also recently issued research reports about the stock. UBS AG cut their price objective on shares of Chipotle Mexican Grill from $460.00 to $445.00 and set a “neutral” rating on the stock in a report on Tuesday, June 27th. BTIG Research reissued a “neutral” rating on shares of Chipotle Mexican Grill in a research note on Friday, July 21st. Bank of America Corporation restated a “neutral” rating and set a $390.00 target price (down from $425.00) on shares of Chipotle Mexican Grill in a research report on Wednesday, July 26th. Wells Fargo & Company lowered shares of Chipotle Mexican Grill from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $470.00 to $375.00 in a research report on Wednesday, July 19th. They noted that the move was a valuation call. Finally, Tigress Financial reiterated a “neutral” rating on shares of Chipotle Mexican Grill in a research report on Saturday, July 22nd. Eight research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Chipotle Mexican Grill has a consensus rating of “Hold” and an average price target of $375.66.
Shares of Chipotle Mexican Grill (CMG) traded down 0.16% during mid-day trading on Thursday, reaching $324.76. 973,364 shares of the company’s stock were exchanged. Chipotle Mexican Grill has a 1-year low of $295.11 and a 1-year high of $499.00. The stock has a market capitalization of $9.26 billion, a PE ratio of 68.81 and a beta of 0.60. The company’s 50 day moving average is $312.87 and its 200 day moving average is $390.81.
Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings data on Tuesday, July 25th. The restaurant operator reported $2.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.16 by $0.16. Chipotle Mexican Grill had a net margin of 3.17% and a return on equity of 10.65%. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the firm posted $0.87 earnings per share. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. Equities research analysts anticipate that Chipotle Mexican Grill will post $7.35 EPS for the current fiscal year.
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Hedge funds have recently modified their holdings of the business. FNY Managed Accounts LLC acquired a new stake in shares of Chipotle Mexican Grill in the 1st quarter valued at $107,000. Korea Investment CORP boosted its holdings in shares of Chipotle Mexican Grill by 140.2% in the 2nd quarter. Korea Investment CORP now owns 269 shares of the restaurant operator’s stock valued at $112,000 after purchasing an additional 157 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its holdings in shares of Chipotle Mexican Grill by 84.5% in the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 369 shares of the restaurant operator’s stock valued at $164,000 after purchasing an additional 169 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in shares of Chipotle Mexican Grill by 15.7% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 406 shares of the restaurant operator’s stock valued at $140,000 after purchasing an additional 55 shares in the last quarter. Finally, Parsons Capital Management Inc. RI acquired a new stake in shares of Chipotle Mexican Grill in the 1st quarter valued at $203,000. 90.06% of the stock is currently owned by hedge funds and other institutional investors.
About Chipotle Mexican Grill
Chipotle Mexican Grill, Inc (Chipotle), together with its subsidiaries, operates Chipotle Mexican Grill restaurants. The Company’s Chipotle Mexican Grill restaurants serve a menu of burritos, tacos, burrito bowls (a burrito without the tortilla) and salads. As of December 31, 2016, the Company managed its operations and restaurants based on 11 regions.
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