Chipotle Mexican Grill (NYSE:CMG) Price Target Lowered to $59.00 at Evercore ISI

Chipotle Mexican Grill (NYSE:CMG) had its price target reduced by Evercore ISI from $65.00 to $59.00 in a research note released on Wednesday, Benzinga reports. They currently have an outperform rating on the restaurant operator’s stock.

A number of other analysts have also recently commented on the company. Citigroup cut their target price on Chipotle Mexican Grill from $71.00 to $69.00 and set a buy rating on the stock in a research report on Thursday, July 25th. Oppenheimer dropped their price target on Chipotle Mexican Grill from $70.00 to $65.00 and set an outperform rating on the stock in a research report on Thursday, July 25th. Jefferies Financial Group boosted their price target on Chipotle Mexican Grill from $47.00 to $54.00 and gave the company a hold rating in a research report on Tuesday, April 16th. TD Cowen dropped their price target on Chipotle Mexican Grill from $72.00 to $65.00 and set a buy rating on the stock in a research report on Thursday, July 25th. Finally, Truist Financial restated a buy rating and issued a $69.00 price target on shares of Chipotle Mexican Grill in a research report on Tuesday. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $62.36.

Chipotle Mexican Grill Stock Performance

NYSE CMG traded up $0.29 during trading on Wednesday, reaching $51.94. 3,665,647 shares of the company’s stock were exchanged, compared to its average volume of 15,013,957. The stock has a market cap of $71.33 billion, a P/E ratio of 54.94, a price-to-earnings-growth ratio of 2.23 and a beta of 1.24. The company has a 50 day moving average price of $122.94 and a two-hundred day moving average price of $80.42. Chipotle Mexican Grill has a 1 year low of $35.37 and a 1 year high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Wednesday, July 24th. The restaurant operator reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. Chipotle Mexican Grill had a return on equity of 44.01% and a net margin of 13.23%. The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the previous year, the business earned $12.65 EPS. Chipotle Mexican Grill’s revenue for the quarter was up 18.2% on a year-over-year basis. Research analysts forecast that Chipotle Mexican Grill will post 1.09 EPS for the current fiscal year.

Insider Activity

In other news, insider Curtis E. Garner sold 17,394 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $54.68, for a total transaction of $951,103.92. Following the transaction, the insider now owns 358,300 shares of the company’s stock, valued at $19,591,844. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

Large investors have recently modified their holdings of the stock. Swedbank AB acquired a new stake in shares of Chipotle Mexican Grill in the first quarter valued at approximately $53,979,000. Transform Wealth LLC grew its position in Chipotle Mexican Grill by 4,760.7% in the second quarter. Transform Wealth LLC now owns 9,527 shares of the restaurant operator’s stock worth $597,000 after buying an additional 9,331 shares during the last quarter. First Hawaiian Bank boosted its stake in Chipotle Mexican Grill by 4,731.0% in the 2nd quarter. First Hawaiian Bank now owns 17,150 shares of the restaurant operator’s stock worth $1,074,000 after purchasing an additional 16,795 shares during the period. Valeo Financial Advisors LLC boosted its stake in Chipotle Mexican Grill by 4,747.7% in the 2nd quarter. Valeo Financial Advisors LLC now owns 20,409 shares of the restaurant operator’s stock worth $1,279,000 after purchasing an additional 19,988 shares during the period. Finally, MJP Associates Inc. ADV boosted its stake in Chipotle Mexican Grill by 5,588.0% in the 2nd quarter. MJP Associates Inc. ADV now owns 12,798 shares of the restaurant operator’s stock worth $802,000 after purchasing an additional 12,573 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.