Chipotle Mexican Grill (NYSE:CMG) Price Target Lowered to $65.00 at TD Cowen

Chipotle Mexican Grill (NYSE:CMG) had its price objective lowered by TD Cowen from $72.00 to $65.00 in a research report released on Thursday, Benzinga reports. TD Cowen currently has a buy rating on the restaurant operator’s stock.

Other research analysts also recently issued reports about the company. Wells Fargo & Company raised their price target on Chipotle Mexican Grill from $65.70 to $66.00 and gave the company an overweight rating in a research note on Thursday, April 25th. StockNews.com downgraded Chipotle Mexican Grill from a buy rating to a hold rating in a research note on Thursday, July 4th. Raymond James restated an outperform rating and issued a $70.00 price target (up from $67.00) on shares of Chipotle Mexican Grill in a research note on Friday, June 28th. Stifel Nicolaus decreased their price target on Chipotle Mexican Grill from $3,270.00 to $70.00 and set a buy rating for the company in a research note on Tuesday, July 9th. Finally, JPMorgan Chase & Co. raised their price target on Chipotle Mexican Grill from $55.00 to $60.00 and gave the company a neutral rating in a research note on Monday, June 3rd. Eleven investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, Chipotle Mexican Grill presently has a consensus rating of Moderate Buy and a consensus price target of $62.88.

Chipotle Mexican Grill Stock Performance

NYSE:CMG opened at $50.83 on Thursday. The company has a market cap of $69.81 billion, a PE ratio of 54.24, a PEG ratio of 2.07 and a beta of 1.24. Chipotle Mexican Grill has a 52-week low of $35.37 and a 52-week high of $69.26. The stock has a 50-day simple moving average of $125.65 and a 200 day simple moving average of $79.48.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings data 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. The business had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.94 billion. Chipotle Mexican Grill had a return on equity of 46.17% and a net margin of 13.23%. Chipotle Mexican Grill’s quarterly revenue was up 18.2% on a year-over-year basis. During the same period last year, the company earned $12.65 earnings per share. On average, research analysts predict that Chipotle Mexican Grill will post 1.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Chipotle Mexican Grill

Several hedge funds and other institutional investors have recently modified their holdings of CMG. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Chipotle Mexican Grill in the 2nd quarter valued at $25,000. Riverview Trust Co increased its stake in shares of 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 during the last quarter. Steph & Co. bought a new position in shares of Chipotle Mexican Grill in the 1st quarter valued at $29,000. M&R Capital Management Inc. increased its stake in shares of Chipotle Mexican Grill by 4,900.0% in the 2nd quarter. M&R Capital Management Inc. now owns 500 shares of the restaurant operator’s stock valued at $31,000 after purchasing an additional 490 shares during the last quarter. Finally, Versant Capital Management Inc increased its stake in shares of Chipotle Mexican Grill by 9,900.0% in the 2nd quarter. Versant Capital Management Inc now owns 500 shares of the restaurant operator’s stock valued at $31,000 after purchasing an additional 495 shares during the last quarter. 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.