Chipotle Mexican Grill (NYSE:CMG) Price Target Cut to $62.50 by Analysts at Raymond James

Chipotle Mexican Grill (NYSE:CMG) had its target price cut by investment analysts at Raymond James from $70.00 to $62.50 in a report released on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the restaurant operator’s stock. Raymond James’ target price would indicate a potential upside of 22.17% from the company’s previous close.

A number of other research firms have also recently commented on CMG. Argus lifted their target price on shares of Chipotle Mexican Grill from $73.36 to $77.76 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Chipotle Mexican Grill from $72.00 to $67.00 and set a “buy” rating for the company in a research note on Thursday. Stephens cut their target price on Chipotle Mexican Grill from $64.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Thursday. Truist Financial lowered their price target on Chipotle Mexican Grill from $74.00 to $69.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Wedbush cut their price objective on Chipotle Mexican Grill from $64.00 to $54.00 and set a “neutral” rating on the stock in a report on Thursday. Eleven equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $63.03.

Chipotle Mexican Grill Stock Performance

NYSE:CMG traded down $0.62 during midday trading on Thursday, reaching $51.16. 25,909,553 shares of the stock traded hands, compared to its average volume of 14,138,667. The stock has a market capitalization of $70.26 billion, a PE ratio of 54.06, a price-to-earnings-growth ratio of 2.10 and a beta of 1.24. Chipotle Mexican Grill has a 12-month low of $35.37 and a 12-month high of $69.26. The business has a 50-day moving average of $125.89 and a two-hundred day moving average of $79.68.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings data on Wednesday, July 24th. The restaurant operator reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. Chipotle Mexican Grill had a return on equity of 43.74% and a net margin of 12.70%. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter last year, the firm earned $12.65 EPS. The business’s quarterly revenue was up 18.2% on a year-over-year basis. Research analysts anticipate that Chipotle Mexican Grill will post 1.1 earnings per share for the current year.

Insider Activity

In other news, CEO Brian R. Niccol sold 320,300 shares of the stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $63.72, for a total transaction of $20,409,003.52. Following the transaction, the chief executive officer now owns 1,133,450 shares in the company, valued at approximately $72,221,620.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Chipotle Mexican Grill news, CEO Brian R. Niccol sold 320,300 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $63.72, for a total transaction of $20,409,003.52. Following the completion of the transaction, the chief executive officer now directly owns 1,133,450 shares in the company, valued at $72,221,620.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Albert S. Baldocchi sold 50,000 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $63.32, for a total transaction of $3,166,010.00. Following the transaction, the director now directly owns 1,362,500 shares in the company, valued at $86,273,772.50. The disclosure for this sale can be found here. Insiders sold 550,750 shares of company stock worth $35,023,769 over the last three months. 1.02% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Chipotle Mexican Grill

Several large investors have recently bought and sold shares of CMG. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Chipotle Mexican Grill in the second quarter worth approximately $25,000. Riverview Trust Co lifted its holdings in Chipotle Mexican Grill by 4,900.0% in the 2nd quarter. Riverview Trust Co now owns 400 shares of the restaurant operator’s stock valued at $25,000 after purchasing an additional 392 shares in the last quarter. Steph & Co. acquired a new stake in Chipotle Mexican Grill during the 1st quarter worth $29,000. M&R Capital Management Inc. boosted its stake in Chipotle Mexican Grill by 4,900.0% during the 2nd quarter. M&R Capital Management Inc. now owns 500 shares of the restaurant operator’s stock worth $31,000 after purchasing an additional 490 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of Chipotle Mexican Grill by 9,900.0% during the second quarter. Versant Capital Management Inc now owns 500 shares of the restaurant operator’s stock worth $31,000 after buying an additional 495 shares in the last quarter. 91.31% of the stock is currently owned by hedge funds and other institutional investors.

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.