Chipotle Mexican Grill (NYSE:CMG) Price Target Cut to $36.00 by Analysts at BNP Paribas Exane

Chipotle Mexican Grill (NYSE:CMG) had its price objective lowered by analysts at BNP Paribas Exane from $39.00 to $36.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the restaurant operator’s stock. BNP Paribas Exane‘s price target would suggest a potential upside of 14.90% from the company’s previous close.

Several other equities research analysts have also recently weighed in on CMG. Piper Sandler lowered their price objective on shares of Chipotle Mexican Grill from $42.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, July 30th. BTIG Research restated a “buy” rating and issued a $45.00 price objective on shares of Chipotle Mexican Grill in a research report on Thursday. Argus raised their price objective on shares of Chipotle Mexican Grill from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Evercore restated an “outperform” rating and issued a $47.00 price objective (up from $45.00) on shares of Chipotle Mexican Grill in a research report on Thursday, July 30th. Finally, Weiss Ratings upgraded shares of Chipotle Mexican Grill from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, August 7th. Twenty-seven analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.47.

Chipotle Mexican Grill Stock Performance

Shares of NYSE:CMG traded up $2.60 during midday trading on Thursday, reaching $31.33. 42,433,016 shares of the company’s stock were exchanged, compared to its average volume of 18,084,094. The company’s 50 day simple moving average is $33.20 and its two-hundred day simple moving average is $34.21. The firm has a market capitalization of $39.65 billion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 1.67 and a beta of 0.96. Chipotle Mexican Grill has a 12 month low of $27.31 and a 12 month high of $41.42.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Wednesday, October 28th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.02). Chipotle Mexican Grill had a net margin of 11.43% and a return on equity of 54.65%. The firm had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.29 billion. During the same period in the prior year, the business earned $0.29 earnings per share. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, research analysts anticipate that Chipotle Mexican Grill will post 1.14 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Matthew R. Bush sold 2,675 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $35.75, for a total value of $95,631.25. Following the sale, the insider owned 21,415 shares of the company’s stock, valued at $765,586.25. The trade was a 11.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.45% of the company’s stock.

Institutional Trading of Chipotle Mexican Grill

Several institutional investors and hedge funds have recently added to or reduced their stakes in CMG. BlackRock Inc. bought a new stake in Chipotle Mexican Grill during the second quarter worth $4,417,475,000. Bank of America Corp DE bought a new stake in Chipotle Mexican Grill during the second quarter worth $383,483,000. Legal & General Group Plc bought a new stake in Chipotle Mexican Grill during the second quarter worth $265,887,000. Man Group plc bought a new stake in Chipotle Mexican Grill during the second quarter worth $240,389,000. Finally, Bank of New York Mellon Corp bought a new stake in Chipotle Mexican Grill during the second quarter worth $222,809,000. 91.30% of the stock is owned by institutional investors.

Key Chipotle Mexican Grill News

Here are the key news stories impacting Chipotle Mexican Grill this week:

• Positive Sentiment: Third-quarter revenue rose 9.6% to $3.29 billion, in line with expectations, while comparable-restaurant sales increased 2.1% and transactions grew for the third consecutive quarter. Value offers and limited-time menu items helped attract diners. Chipotle beats quarterly sales expectations on resilient demand
• Positive Sentiment: Investors responded favorably to signs of a traffic recovery following earlier food-safety concerns. New menu launches, refreshed loyalty benefits and plans to accelerate technology and menu innovation are supporting the turnaround. Chipotle Sales Beat as New Chicken, Chips Bring Diners Back
• Positive Sentiment: Chipotle opened 84 company-owned restaurants during the quarter, and its loyalty program surpassed 24 million members, providing additional long-term growth and customer-engagement potential. Chipotle: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Several analysts maintained bullish ratings, including DA Davidson and BTIG Research at $45 targets and Oppenheimer at a $51 target, implying substantial upside based on the supplied reference price. Oppenheimer analyst rating
• Neutral Sentiment: Analyst opinion remains mixed: Citigroup kept a Buy rating while cutting its target to $41, whereas BNP Paribas Exane retained Neutral and reduced its target to $36. Bernstein also lowered its target to $43 from $50. Citigroup price target
• Negative Sentiment: Adjusted earnings were $0.27 per share, below the $0.29 consensus and last year’s $0.29, as higher operating costs, beef prices and increased protein usage pressured margins. Chipotle Q3 earnings miss estimates
• Negative Sentiment: Management’s outlook calls for only modestly higher sales, leaving investors dependent on the fourth-quarter brisket launch, continued traffic gains and successful cost management to sustain the recovery. The rest of Chipotle’s year hinges on brisket

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill, Inc (NYSE: CMG) operates a chain of fast-casual restaurants focused on Mexican-inspired food. Its menu includes burritos, burrito bowls, tacos, quesadillas and salads, with options such as chicken, steak, barbacoa, carnitas, sofritas and vegetables. The company emphasizes preparing food in its restaurants from ingredients it describes as responsibly sourced, including meats raised with attention to animal welfare and produce from selected suppliers.

Founded by Steve Ells in 1993, Chipotle opened its first restaurant in Denver, Colorado.