Truist Financial Cuts Chipotle Mexican Grill (NYSE:CMG) Price Target to $69.00

Chipotle Mexican Grill (NYSE:CMG) had its target price lowered by Truist Financial from $74.00 to $69.00 in a research note published on Thursday morning, Benzinga reports. Truist Financial currently has a buy rating on the restaurant operator’s stock.

CMG has been the topic of a number of other research reports. Citigroup increased their price target on Chipotle Mexican Grill from $67.38 to $71.00 and gave the company a buy rating in a research note on Friday, July 12th. Raymond James reissued an outperform rating and issued a $70.00 price target (up previously from $67.00) on shares of Chipotle Mexican Grill in a research note on Friday, June 28th. Guggenheim increased their price target on Chipotle Mexican Grill from $54.50 to $55.00 and gave the company a neutral rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft increased their price target on Chipotle Mexican Grill from $68.00 to $72.00 and gave the company a buy rating in a research note on Thursday, April 25th. Finally, Argus increased their price target on Chipotle Mexican Grill from $73.36 to $77.76 and gave the company a buy rating in a research note on Tuesday, June 18th. Eleven analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $62.88.

Chipotle Mexican Grill Stock Performance

Shares of CMG opened at $49.83 on Thursday. The firm has a market capitalization of $68.43 billion, a price-to-earnings ratio of 53.17, a PEG ratio of 2.00 and a beta of 1.24. The business’s fifty day moving average price is $125.36 and its two-hundred day moving average price is $80.01. Chipotle Mexican Grill has a 52 week low of $35.37 and a 52 week high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data on Wednesday, July 24th. The restaurant operator reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. The firm had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.94 billion. Chipotle Mexican Grill had a return on equity of 44.01% and a net margin of 13.23%. The business’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same period last year, the company earned $12.65 EPS. As a group, research analysts forecast that Chipotle Mexican Grill will post 1.09 EPS for the current year.

Hedge Funds Weigh In On Chipotle Mexican Grill

Several hedge funds have recently modified their holdings of the stock. HB Wealth Management LLC grew its holdings in shares of Chipotle Mexican Grill by 5,674.7% in the 2nd quarter. HB Wealth Management LLC now owns 30,779 shares of the restaurant operator’s stock valued at $1,928,000 after acquiring an additional 30,246 shares in the last quarter. Tower View Wealth Management LLC grew its holdings in shares of Chipotle Mexican Grill by 4,900.0% in the 2nd quarter. Tower View Wealth Management LLC now owns 500 shares of the restaurant operator’s stock valued at $31,000 after acquiring an additional 490 shares in the last quarter. 1834 Investment Advisors Co. grew its holdings in shares of Chipotle Mexican Grill by 4,900.0% in the 2nd quarter. 1834 Investment Advisors Co. now owns 3,750 shares of the restaurant operator’s stock valued at $235,000 after acquiring an additional 3,675 shares in the last quarter. Strategic Blueprint LLC grew its holdings in shares of Chipotle Mexican Grill by 5,122.7% in the 2nd quarter. Strategic Blueprint LLC now owns 90,875 shares of the restaurant operator’s stock valued at $5,693,000 after acquiring an additional 89,135 shares in the last quarter. Finally, Rosenberg Matthew Hamilton grew its holdings in Chipotle Mexican Grill by 4,900.0% during the second quarter. Rosenberg Matthew Hamilton now owns 6,000 shares of the restaurant operator’s stock worth $371,000 after purchasing an additional 5,880 shares during the period. Institutional investors 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.