Chipotle Mexican Grill (NYSE:CMG) Earns Neutral Rating from Robert W. Baird

Key Points

• Robert W. Baird reaffirmed a “neutral” rating on Chipotle Mexican Grill and lowered its price target from $44 to $40, implying 8.58% potential upside from the prior close.
• Despite mixed analyst targets, Chipotle maintains a “Moderate Buy” consensus, with 23 Buy ratings and 10 Holds and an average price target of $43.84.
• Chipotle’s latest quarterly results slightly exceeded expectations, with $0.33 in EPS and $3.35 billion in revenue, up 9.3% year over year; shares opened at $36.84.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report)'s stock had its "neutral" rating reaffirmed by stock analysts at Robert W. Baird in a research report issued on Monday,Benzinga reports. They currently have a $40.00 price objective on the restaurant operator's stock, down from their prior price objective of $44.00. Robert W. Baird's price objective would suggest a potential upside of 8.58% from the stock's previous close.

A number of other research analysts have also recently commented on the stock. JPMorgan Chase & Co. raised shares of Chipotle Mexican Grill from a "neutral" rating to an "overweight" rating and reduced their target price for the stock from $38.00 to $35.00 in a research report on Friday, June 5th. Morgan Stanley upped their target price on Chipotle Mexican Grill from $37.00 to $39.00 and gave the company an "equal weight" rating in a research report on Thursday, July 30th. Piper Sandler cut their price target on shares of Chipotle Mexican Grill from $42.00 to $39.00 and set an "overweight" rating on the stock in a report on Thursday, July 30th. Argus raised their price objective on shares of Chipotle Mexican Grill from $40.00 to $45.00 and gave the stock a "buy" rating in a report on Tuesday, August 4th. Finally, TD Cowen reissued a "buy" rating and issued a $44.00 target price on shares of Chipotle Mexican Grill in a research report on Thursday, July 30th. Twenty-three analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $43.84.

Chipotle Mexican Grill Trading Down 0.2%

Shares of CMG stock opened at $36.84 on Monday. The company's fifty day simple moving average is $33.80 and its 200-day simple moving average is $33.96. Chipotle Mexican Grill has a 52 week low of $28.03 and a 52 week high of $43.72. The company has a market cap of $46.62 billion, a PE ratio of 33.80, a P/E/G ratio of 2.35 and a beta of 0.94.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The restaurant operator reported $0.33 EPS for the quarter, beating the consensus estimate of $0.32 by $0.01. Chipotle Mexican Grill had a return on equity of 54.65% and a net margin of 11.43%.The company had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same period last year, the company posted $0.33 earnings per share. The firm's revenue was up 9.3% compared to the same quarter last year. Equities research analysts expect that Chipotle Mexican Grill will post 1.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Chipotle Mexican Grill

A number of hedge funds and other institutional investors have recently bought and sold shares of CMG. Wealth Watch Advisors INC bought a new stake in shares of Chipotle Mexican Grill in the 3rd quarter worth approximately $25,000. MV Capital Management Inc. acquired a new stake in Chipotle Mexican Grill in the fourth quarter worth $26,000. Osbon Capital Management LLC bought a new stake in Chipotle Mexican Grill in the second quarter valued at $26,000. Meeder Asset Management Inc. bought a new stake in Chipotle Mexican Grill in the second quarter valued at $27,000. Finally, Merkkuri Wealth Advisors LLC acquired a new position in shares of Chipotle Mexican Grill during the first quarter valued at $28,000. 91.30% of the stock is currently owned by institutional investors and hedge funds.

About Chipotle Mexican Grill

Chipotle Mexican Grill is a fast-casual restaurant company known for its Mexican-inspired menu of burritos, bowls, tacos and salads. Founded in 1993 by Steve Ells, the chain emphasizes fresh, customizable meals made from a limited menu of core ingredients and a focus on ingredient quality. Chipotle operates primarily company-owned restaurants and offers dine-in, takeout, catering and delivery through its own digital platforms and third-party partners.

The company is headquartered in Newport Beach, California, and traces its roots to Denver, Colorado.

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