Chipotle Mexican Grill (NYSE:CMG) Given New $45.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada cut its price target for Chipotle from $50 to $45 but maintained an "outperform" rating, implying roughly a 24.7% upside from the prior close.
• Analyst consensus is a Moderate Buy with an average price target of $47.13, based on 24 Buys, 11 Holds and 1 Sell.
• Chipotle beat Q results with EPS of $0.25 (beat by $0.01) and revenue of $2.98B (up 4.9% YoY); shares trade around $36 with a market cap near $47B and a P/E of ~31.7.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) had its target price cut by investment analysts at Royal Bank Of Canada from $50.00 to $45.00 in a report issued on Friday,Benzinga reports. The firm currently has an "outperform" rating on the restaurant operator's stock. Royal Bank Of Canada's target price would suggest a potential upside of 24.73% from the stock's previous close.

A number of other research firms also recently commented on CMG. Stephens reiterated an "equal weight" rating and issued a $35.00 price objective on shares of Chipotle Mexican Grill in a report on Wednesday, February 4th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $48.00 price target on shares of Chipotle Mexican Grill in a research note on Wednesday, February 4th. Truist Financial raised their price objective on shares of Chipotle Mexican Grill from $45.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, January 8th. Evercore restated an "outperform" rating and issued a $45.00 target price on shares of Chipotle Mexican Grill in a report on Friday, December 19th. Finally, Mizuho raised shares of Chipotle Mexican Grill from a "neutral" rating to an "outperform" rating and increased their target price for the company from $37.00 to $40.00 in a research report on Friday, March 20th. Twenty-four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $47.13.

Chipotle Mexican Grill Stock Up 2.8%

Shares of NYSE CMG opened at $36.08 on Friday. The business's 50 day moving average is $35.04 and its two-hundred day moving average is $36.40. Chipotle Mexican Grill has a 52-week low of $29.75 and a 52-week high of $58.42. The firm has a market cap of $46.99 billion, a price-to-earnings ratio of 31.66, a PEG ratio of 2.16 and a beta of 1.06.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last posted its quarterly earnings data on Tuesday, February 3rd. The restaurant operator reported $0.25 EPS for the quarter, beating the consensus estimate of $0.24 by $0.01. Chipotle Mexican Grill had a net margin of 12.88% and a return on equity of 47.99%. The business had revenue of $2.98 billion during the quarter, compared to analyst estimates of $2.96 billion. During the same quarter last year, the firm posted $0.25 earnings per share. The business's revenue for the quarter was up 4.9% compared to the same quarter last year. Analysts anticipate that Chipotle Mexican Grill will post 1.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Chipotle Mexican Grill

Several large investors have recently modified their holdings of CMG. Financial Life Planners purchased a new stake in Chipotle Mexican Grill in the 3rd quarter valued at $25,000. Wealth Watch Advisors INC acquired a new position in Chipotle Mexican Grill in the third quarter valued at $25,000. Salomon & Ludwin LLC acquired a new position in Chipotle Mexican Grill in the third quarter valued at $26,000. MV Capital Management Inc. purchased a new stake in shares of Chipotle Mexican Grill in the fourth quarter valued at about $26,000. Finally, Osbon Capital Management LLC acquired a new stake in shares of Chipotle Mexican Grill during the fourth quarter worth about $28,000. 91.30% of the stock is owned by institutional investors and hedge funds.

Chipotle Mexican Grill Company Profile

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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