Chipotle Mexican Grill (NYSE:CMG) Price Target Raised to $50.00

by · The Markets Daily

Chipotle Mexican Grill (NYSE:CMG – Get Free Report) had its price target upped by research analysts at Wells Fargo & Company from $45.00 to $50.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the restaurant operator’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 22.19% from the company’s previous close.

A number of other research analysts have also weighed in on CMG. Gordon Haskett lowered Chipotle Mexican Grill from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 8th. Barclays upped their target price on shares of Chipotle Mexican Grill from $38.00 to $44.00 and gave the company an “equal weight” rating in a report on Wednesday, January 7th. Stephens reduced their price objective on shares of Chipotle Mexican Grill from $48.00 to $35.00 and set an “equal weight” rating for the company in a research note on Thursday, October 30th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Chipotle Mexican Grill in a research note on Thursday, October 30th. Finally, Royal Bank Of Canada lowered their target price on Chipotle Mexican Grill from $58.00 to $40.00 and set an “outperform” rating for the company in a research note on Thursday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $50.32.

View Our Latest Analysis on CMG

Chipotle Mexican Grill Price Performance

Shares of CMG traded up $0.20 during trading hours on Thursday, hitting $40.92. The stock had a trading volume of 2,486,425 shares, compared to its average volume of 15,784,988. The stock has a fifty day moving average price of $36.01 and a 200 day moving average price of $40.05. Chipotle Mexican Grill has a 12 month low of $29.75 and a 12 month high of $59.57. The firm has a market capitalization of $54.11 billion, a PE ratio of 36.23, a PEG ratio of 3.71 and a beta of 0.97.

Chipotle Mexican Grill (NYSE:CMG – Get Free Report) last released its quarterly earnings data on Wednesday, October 29th. The restaurant operator reported $0.29 EPS for the quarter, meeting the consensus estimate of $0.29. Chipotle Mexican Grill had a net margin of 13.04% and a return on equity of 45.39%. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter in the prior year, the firm earned $0.27 EPS. The business’s revenue was up 7.5% on a year-over-year basis. As a group, analysts anticipate that Chipotle Mexican Grill will post 1.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Chipotle Mexican Grill

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Operose Advisors LLC purchased a new position in Chipotle Mexican Grill during the 2nd quarter worth approximately $25,000. Signature Resources Capital Management LLC bought a new stake in shares of Chipotle Mexican Grill during the 2nd quarter worth $28,000. Lavaca Capital LLC bought a new position in Chipotle Mexican Grill during the second quarter worth about $28,000. Activest Wealth Management boosted its stake in Chipotle Mexican Grill by 109.3% in the second quarter. Activest Wealth Management now owns 517 shares of the restaurant operator’s stock worth $29,000 after purchasing an additional 270 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in Chipotle Mexican Grill in the second quarter valued at about $34,000. Hedge funds and other institutional investors own 91.30% of the company’s stock.

About Chipotle Mexican Grill

(Get Free Report)

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.

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