Chipotle Mexican Grill (NYSE:CMG) Price Target Cut to $57.00 by Analysts at Evercore ISI

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) had its price target reduced by Evercore ISI from $64.00 to $57.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an "outperform" rating on the restaurant operator's stock. Evercore ISI's price objective would suggest a potential upside of 12.22% from the stock's previous close.

Several other brokerages have also issued reports on CMG. TD Securities lowered their price target on shares of Chipotle Mexican Grill from $60.00 to $57.00 and set a "buy" rating on the stock in a report on Thursday. Guggenheim dropped their price target on shares of Chipotle Mexican Grill from $56.00 to $48.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. KeyCorp cut their target price on Chipotle Mexican Grill from $64.00 to $60.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Citigroup reduced their target price on shares of Chipotle Mexican Grill from $70.00 to $62.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Finally, Wells Fargo & Company cut their price target on shares of Chipotle Mexican Grill from $70.00 to $60.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Nine investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.78.

Chipotle Mexican Grill Stock Performance

Shares of CMG traded down $0.99 during trading hours on Thursday, reaching $50.79. 9,778,134 shares of the company traded hands, compared to its average volume of 13,457,267. Chipotle Mexican Grill has a 1-year low of $44.46 and a 1-year high of $69.26. The stock has a market cap of $68.84 billion, a P/E ratio of 45.86, a price-to-earnings-growth ratio of 2.04 and a beta of 1.27. The stock's fifty day moving average is $50.11 and its 200 day moving average is $56.26.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The restaurant operator reported $0.29 EPS for the quarter, beating the consensus estimate of $0.28 by $0.01. The firm had revenue of $2.88 billion during the quarter, compared to analysts' expectations of $2.98 billion. Chipotle Mexican Grill had a return on equity of 42.92% and a net margin of 13.56%. The company's revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $13.37 EPS. On average, equities research analysts predict that Chipotle Mexican Grill will post 1.29 EPS for the current year.

Institutional Trading of Chipotle Mexican Grill

A number of hedge funds have recently modified their holdings of the company. Alliancebernstein L.P. lifted its holdings in shares of Chipotle Mexican Grill by 29.5% in the fourth quarter. Alliancebernstein L.P. now owns 30,100,520 shares of the restaurant operator's stock valued at $1,815,061,000 after purchasing an additional 6,853,470 shares in the last quarter. Geode Capital Management LLC increased its position in Chipotle Mexican Grill by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 28,476,031 shares of the restaurant operator's stock worth $1,712,238,000 after buying an additional 395,053 shares during the period. American Century Companies Inc. grew its position in Chipotle Mexican Grill by 0.8% during the fourth quarter. American Century Companies Inc. now owns 20,236,980 shares of the restaurant operator's stock worth $1,220,290,000 after buying an additional 166,767 shares in the last quarter. Norges Bank bought a new position in Chipotle Mexican Grill in the 4th quarter valued at about $1,093,345,000. Finally, Northern Trust Corp boosted its stake in Chipotle Mexican Grill by 11.1% in the fourth quarter. Northern Trust Corp now owns 14,443,085 shares of the restaurant operator's stock valued at $870,918,000 after buying an additional 1,438,860 shares in the last quarter. 91.31% of the stock is currently owned by institutional investors and hedge funds.

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.