Chipotle Mexican Grill (NYSE:CMG) Price Target Lowered to $62.00 at Citigroup

Chipotle Mexican Grill (NYSE:CMG) had its price objective trimmed by Citigroup from $70.00 to $62.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the restaurant operator’s stock.

CMG has been the subject of several other research reports. Wedbush dropped their price objective on shares of Chipotle Mexican Grill from $69.00 to $64.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. JPMorgan Chase & Co. cut their price target on Chipotle Mexican Grill from $64.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday, March 20th. Wells Fargo & Company lowered their price objective on Chipotle Mexican Grill from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Piper Sandler cut their target price on Chipotle Mexican Grill from $60.00 to $59.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Finally, Evercore ISI boosted their price target on shares of Chipotle Mexican Grill from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, December 5th. 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 company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $66.38.

Chipotle Mexican Grill Stock Performance

NYSE:CMG opened at $52.04 on Wednesday. The company has a fifty day moving average of $53.50 and a two-hundred day moving average of $57.46. Chipotle Mexican Grill has a fifty-two week low of $47.55 and a fifty-two week high of $69.26. The stock has a market capitalization of $70.53 billion, a PE ratio of 46.87, a P/E/G ratio of 2.04 and a beta of 1.27.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings results on Tuesday, February 4th. The restaurant operator reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. Chipotle Mexican Grill had a net margin of 13.56% and a return on equity of 42.92%. Research analysts forecast that Chipotle Mexican Grill will post 1.29 earnings per share for the current year.

Hedge Funds Weigh In On Chipotle Mexican Grill

Institutional investors have recently modified their holdings of the business. Tortoise Investment Management LLC grew its stake in shares of Chipotle Mexican Grill by 14.0% in the 4th quarter. Tortoise Investment Management LLC now owns 1,436 shares of the restaurant operator’s stock valued at $87,000 after purchasing an additional 176 shares during the last quarter. Traynor Capital Management Inc. grew its position in Chipotle Mexican Grill by 2.5% in the 4th quarter. Traynor Capital Management Inc. now owns 7,522 shares of the restaurant operator’s stock valued at $454,000 after buying an additional 181 shares during the last quarter. BTC Capital Management Inc. grew its position in Chipotle Mexican Grill by 1.9% in the 4th quarter. BTC Capital Management Inc. now owns 9,969 shares of the restaurant operator’s stock valued at $601,000 after buying an additional 184 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in Chipotle Mexican Grill by 4.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 4,804 shares of the restaurant operator’s stock valued at $290,000 after buying an additional 214 shares during the period. Finally, Confluence Wealth Services Inc. raised its position in Chipotle Mexican Grill by 4.2% during the 4th quarter. Confluence Wealth Services Inc. now owns 5,391 shares of the restaurant operator’s stock worth $310,000 after buying an additional 218 shares during the last quarter. 91.31% of the stock is owned by institutional investors and hedge funds.

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.