Wells Fargo & Company Issues Pessimistic Forecast for Chipotle Mexican Grill (NYSE:CMG) Stock Price

Chipotle Mexican Grill (NYSE:CMG) had its price objective reduced by Wells Fargo & Company from $70.00 to $60.00 in a report released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the restaurant operator’s stock.

A number of other brokerages also recently commented on CMG. KeyCorp lowered their target price on shares of Chipotle Mexican Grill from $64.00 to $60.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. Cfra raised Chipotle Mexican Grill from a “buy” rating to a “strong-buy” rating and raised their target price for the company from $59.00 to $73.00 in a report on Wednesday, February 5th. Barclays lowered their target price on Chipotle Mexican Grill from $63.00 to $60.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Royal Bank of Canada dropped their price objective on Chipotle Mexican Grill from $70.00 to $65.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Chipotle Mexican Grill from $64.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, March 20th. Eight equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.99.

Chipotle Mexican Grill Price Performance

Shares of Chipotle Mexican Grill stock opened at $47.10 on Tuesday. The stock has a market capitalization of $63.84 billion, a price-to-earnings ratio of 42.42, a price-to-earnings-growth ratio of 2.04 and a beta of 1.27. The business has a 50-day moving average of $50.48 and a 200 day moving average of $56.43. Chipotle Mexican Grill has a 12 month low of $44.46 and a 12 month high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings data on Tuesday, February 4th. The restaurant operator reported $0.25 EPS for the quarter, beating the consensus estimate of $0.24 by $0.01. Chipotle Mexican Grill had a net margin of 13.56% and a return on equity of 42.92%. Equities research 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

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Stiles Financial Services Inc boosted its stake in Chipotle Mexican Grill by 18.5% in the 1st quarter. Stiles Financial Services Inc now owns 11,795 shares of the restaurant operator’s stock worth $592,000 after purchasing an additional 1,845 shares during the period. Flagship Harbor Advisors LLC grew its position in Chipotle Mexican Grill by 7.0% during the first quarter. Flagship Harbor Advisors LLC now owns 16,368 shares of the restaurant operator’s stock valued at $822,000 after purchasing an additional 1,070 shares in the last quarter. Cherry Creek Investment Advisors Inc. lifted its position in Chipotle Mexican Grill by 4.2% in the 1st quarter. Cherry Creek Investment Advisors Inc. now owns 6,425 shares of the restaurant operator’s stock worth $323,000 after buying an additional 260 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund increased its stake in shares of Chipotle Mexican Grill by 3,525.3% in the first quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 39,733 shares of the restaurant operator’s stock worth $1,995,000 after acquiring an additional 38,637 shares during the last quarter. Finally, Manning & Napier Advisors LLC acquired a new position in Chipotle Mexican Grill in the 1st quarter worth about $127,892,000. Institutional investors and hedge funds own 91.31% of the company’s stock.

About Chipotle Mexican Grill

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.