Piper Sandler Cuts Chipotle Mexican Grill (NYSE:CMG) Price Target to $39.00

Chipotle Mexican Grill (NYSE:CMG) had its price target trimmed by Piper Sandler from $42.00 to $39.00 in a report issued on Thursday,Benzinga reports. The firm currently has an overweight rating on the restaurant operator’s stock.

A number of other equities analysts have also recently issued reports on the company. Zacks Research upgraded Chipotle Mexican Grill from a “strong sell” rating to a “hold” rating in a report on Friday, April 17th. Morgan Stanley increased their target price on Chipotle Mexican Grill from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Thursday. Barclays decreased their target price on Chipotle Mexican Grill from $40.00 to $38.00 and set an “equal weight” rating for the company in a research report on Thursday, April 30th. Raymond James Financial reissued an “outperform” rating and set a $42.50 target price on shares of Chipotle Mexican Grill in a research note on Thursday. Finally, Evercore restated an “outperform” rating and issued a $47.00 price target on shares of Chipotle Mexican Grill in a report on Thursday. Twenty-four research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $43.98.

Chipotle Mexican Grill Price Performance

Chipotle Mexican Grill stock opened at $37.31 on Thursday. The firm has a market capitalization of $47.86 billion, a P/E ratio of 34.23, a price-to-earnings-growth ratio of 2.41 and a beta of 0.97. Chipotle Mexican Grill has a 1-year low of $28.03 and a 1-year high of $44.27. The company’s 50-day moving average is $32.85 and its 200 day moving average is $34.62.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CMG. Wealth Watch Advisors INC bought a new stake in Chipotle Mexican Grill during the 3rd quarter valued at $25,000. MV Capital Management Inc. bought a new position in shares of Chipotle Mexican Grill during the 4th quarter worth $26,000. Osbon Capital Management LLC bought a new position in shares of Chipotle Mexican Grill during the 4th quarter worth $28,000. Merkkuri Wealth Advisors LLC purchased a new position in shares of Chipotle Mexican Grill during the first quarter valued at $28,000. Finally, Rule One Partners LLC purchased a new position in shares of Chipotle Mexican Grill during the first quarter valued at $32,000. 91.30% of the stock is currently owned by hedge funds and other institutional investors.

More Chipotle Mexican Grill News

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

• Positive Sentiment: Chipotle reported second-quarter adjusted EPS of $0.33, slightly above the $0.32 consensus, while revenue rose 9.3% year over year to $3.35 billion, broadly ahead of expectations. Chipotle Mexican Grill Stock Rallies as Q2 Results Top Fears, Guidance Rises
• Positive Sentiment: Comparable restaurant sales increased 2.2%, supported by improving customer traffic, menu innovation, digital engagement and restaurant expansion. Management raised its full-year comparable-sales outlook, signaling confidence that momentum is continuing. Chipotle shares rise on quarterly earnings beat, raised outlook
• Positive Sentiment: Analysts remained constructive following the results. DA Davidson raised its price target to $50 and maintained a Buy rating, while BTIG, TD Cowen and Mizuho also retained positive recommendations; Mizuho lifted its target to $43.
• Neutral Sentiment: Unusually heavy call-option activity and multiple price-target revisions indicate heightened investor interest, but these signals can also contribute to short-term volatility rather than establish a lasting trend.
• Negative Sentiment: Management said sales softened late in July amid consumer concerns about a cyclospora outbreak, although Chipotle stated it was not involved in the outbreak. The traffic disruption has raised questions about the durability of the recovery. Chipotle lifts its sales forecast even as a lettuce-linked outbreak slows foot traffic
• Negative Sentiment: Investors also remain concerned about labor and other operating costs pressuring margins. Piper Sandler lowered its target to $39 and Morgan Stanley and Stephens kept more cautious equal-weight ratings, limiting the stock’s upside after its sharp earnings-related advance.

About Chipotle Mexican Grill

Chipotle Mexican Grill is a fast-casual restaurant company known for its Mexican-inspired menu of burritos, bowls, tacos and salads. Founded in 1993 by Steve Ells, the chain emphasizes fresh, customizable meals made from a limited menu of core ingredients and a focus on ingredient quality. Chipotle operates primarily company-owned restaurants and offers dine-in, takeout, catering and delivery through its own digital platforms and third-party partners.

The company is headquartered in Newport Beach, California, and traces its roots to Denver, Colorado.