Chipotle Mexican Grill (NYSE:CMG) Given New $65.00 Price Target at Evercore ISI

Chipotle Mexican Grill (NYSE:CMG) had its target price decreased by Evercore ISI from $72.00 to $65.00 in a research report sent to investors on Thursday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the restaurant operator’s stock.

CMG has been the subject of several other research reports. TD Cowen cut their target price on Chipotle Mexican Grill from $72.00 to $65.00 and set a buy rating for the company in a research note on Thursday. Citigroup raised their price target on Chipotle Mexican Grill from $67.38 to $71.00 and gave the company a buy rating in a report on Friday, July 12th. Deutsche Bank Aktiengesellschaft lowered their price target on Chipotle Mexican Grill from $72.00 to $67.00 and set a buy rating on the stock in a report on Thursday. KeyCorp lowered their price target on Chipotle Mexican Grill from $3,400.00 to $68.00 and set an overweight rating on the stock in a report on Tuesday, July 9th. Finally, UBS Group raised their price target on Chipotle Mexican Grill from $68.00 to $70.00 and gave the company a buy rating in a report on Thursday, April 25th. Eleven research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $62.88.

Chipotle Mexican Grill Stock Performance

CMG stock opened at $50.74 on Thursday. The company has a market capitalization of $69.68 billion, a price-to-earnings ratio of 54.07, a PEG ratio of 2.07 and a beta of 1.24. Chipotle Mexican Grill has a fifty-two week low of $35.37 and a fifty-two week high of $69.26. The stock has a fifty day moving average of $125.65 and a 200-day moving average of $79.48.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Wednesday, July 24th. The restaurant operator reported $0.34 EPS for the quarter, topping the consensus estimate of $0.32 by $0.02. Chipotle Mexican Grill had a return on equity of 46.17% and a net margin of 13.23%. The business had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter last year, the company earned $12.65 EPS. The firm’s revenue was up 18.2% compared to the same quarter last year. Equities analysts predict that Chipotle Mexican Grill will post 1.1 EPS for the current year.

Institutional Investors Weigh In On Chipotle Mexican Grill

Several hedge funds have recently added to or reduced their stakes in CMG. Bank of New York Mellon Corp boosted its holdings in Chipotle Mexican Grill by 4,816.1% in the second quarter. Bank of New York Mellon Corp now owns 8,356,173 shares of the restaurant operator’s stock worth $523,514,000 after acquiring an additional 8,186,198 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Chipotle Mexican Grill by 4,260.5% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,132,332 shares of the restaurant operator’s stock worth $196,241,000 after acquiring an additional 3,060,498 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Chipotle Mexican Grill by 3,988.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,996,492 shares of the restaurant operator’s stock worth $187,730,000 after acquiring an additional 2,923,203 shares in the last quarter. Raymond James & Associates boosted its holdings in Chipotle Mexican Grill by 5,217.4% in the second quarter. Raymond James & Associates now owns 1,528,604 shares of the restaurant operator’s stock worth $95,767,000 after acquiring an additional 1,499,857 shares in the last quarter. Finally, Calamos Advisors LLC boosted its holdings in Chipotle Mexican Grill by 6,114.1% in the second quarter. Calamos Advisors LLC now owns 1,327,021 shares of the restaurant operator’s stock worth $83,138,000 after acquiring an additional 1,305,666 shares in the last quarter. 91.31% of the stock is owned by institutional investors.

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.