Chipotle Mexican Grill (NYSE:CMG) Given New $45.00 Price Target at BTIG Research

Chipotle Mexican Grill (NYSE:CMG) had its price objective decreased by BTIG Research from $57.00 to $45.00 in a research note issued to investors on Thursday morning,Benzinga reports. BTIG Research currently has a buy rating on the restaurant operator’s stock.

Other equities analysts have also recently issued reports about the company. Melius assumed coverage on Chipotle Mexican Grill in a research report on Monday, July 14th. They issued a “hold” rating and a $60.00 price target for the company. Truist Financial reduced their price target on Chipotle Mexican Grill from $60.00 to $53.00 and set a “buy” rating for the company in a research report on Tuesday, October 14th. Piper Sandler upgraded Chipotle Mexican Grill from a “neutral” rating to an “overweight” rating and reduced their target price for the stock from $53.00 to $50.00 in a research report on Tuesday, August 12th. Jefferies Financial Group reduced their target price on Chipotle Mexican Grill from $48.00 to $44.00 and set a “hold” rating for the company in a research report on Monday, October 13th. Finally, KeyCorp reduced their target price on Chipotle Mexican Grill from $58.00 to $52.00 and set an “overweight” rating for the company in a research report on Monday, October 20th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $50.97.

Chipotle Mexican Grill Price Performance

NYSE:CMG opened at $32.61 on Thursday. The business has a fifty day simple moving average of $40.60 and a two-hundred day simple moving average of $46.79. Chipotle Mexican Grill has a 1 year low of $31.01 and a 1 year high of $66.74. The company has a market capitalization of $43.73 billion, a P/E ratio of 28.86, a P/E/G ratio of 2.65 and a beta of 0.99.

Chipotle Mexican Grill (NYSE:CMG) last released its earnings results on Wednesday, October 29th. The restaurant operator reported $0.29 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.29. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.06 billion. Chipotle Mexican Grill had a return on equity of 44.32% and a net margin of 13.04%.The business’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period last year, the business posted $0.27 earnings per share. As a group, analysts anticipate that Chipotle Mexican Grill will post 1.29 earnings per share for the current year.

Institutional Investors Weigh In On Chipotle Mexican Grill

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Chipotle Mexican Grill by 0.8% during the second quarter. Vanguard Group Inc. now owns 123,457,125 shares of the restaurant operator’s stock worth $6,932,118,000 after purchasing an additional 993,798 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Chipotle Mexican Grill by 7.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 56,827,332 shares of the restaurant operator’s stock worth $2,853,302,000 after purchasing an additional 4,027,016 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Chipotle Mexican Grill by 1.9% during the second quarter. Alliancebernstein L.P. now owns 33,111,508 shares of the restaurant operator’s stock worth $1,859,211,000 after purchasing an additional 606,190 shares during the last quarter. Geode Capital Management LLC lifted its stake in Chipotle Mexican Grill by 1.1% during the second quarter. Geode Capital Management LLC now owns 29,659,508 shares of the restaurant operator’s stock worth $1,657,193,000 after purchasing an additional 325,926 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Chipotle Mexican Grill by 2.9% in the 2nd quarter. American Century Companies Inc. now owns 21,257,666 shares of the restaurant operator’s stock valued at $1,193,618,000 after acquiring an additional 595,038 shares during the last quarter. Institutional investors own 91.30% of the company’s stock.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. It sells food and beverages through offering burritos, burrito bowls, quesadillas, tacos, and salads. The company also provides delivery and related services its app and website. It has operations in the United States, Canada, France, Germany, and the United Kingdom.