Morgan Stanley Lowers Chipotle Mexican Grill (NYSE:CMG) Price Target to $65.00

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) had its price target decreased by equities researchers at Morgan Stanley from $67.00 to $65.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the restaurant operator's stock. Morgan Stanley's target price suggests a potential upside of 27.75% from the company's previous close.

A number of other equities analysts have also commented on the stock. Evercore ISI decreased their price objective on shares of Chipotle Mexican Grill from $64.00 to $57.00 and set an "outperform" rating for the company in a research note on Thursday. Piper Sandler cut their price objective on shares of Chipotle Mexican Grill from $59.00 to $52.00 and set a "neutral" rating on the stock in a research report on Thursday. Barclays decreased their price objective on shares of Chipotle Mexican Grill from $60.00 to $56.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. UBS Group cut their target price on Chipotle Mexican Grill from $65.00 to $60.00 and set a "buy" rating on the stock in a report on Thursday. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $70.00 price target on shares of Chipotle Mexican Grill in a research report on Tuesday, January 28th. Nine equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $61.78.

Chipotle Mexican Grill Stock Performance

Shares of CMG stock traded down $0.90 during midday trading on Thursday, reaching $50.88. 18,136,287 shares of the company were exchanged, compared to its average volume of 13,487,806. The company's 50 day moving average price is $50.11 and its two-hundred day moving average price is $56.26. The company has a market cap of $68.96 billion, a P/E ratio of 45.83, a PEG ratio of 2.04 and a beta of 1.27. Chipotle Mexican Grill has a 12 month low of $44.46 and a 12 month high of $69.26.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The restaurant operator reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.01. The company had revenue of $2.88 billion for the quarter, compared to analysts' expectations of $2.98 billion. Chipotle Mexican Grill had a net margin of 13.56% and a return on equity of 42.92%. The business's revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $13.37 EPS. As a group, sell-side analysts predict that Chipotle Mexican Grill will post 1.29 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CMG. D.A. Davidson & CO. raised its holdings in shares of Chipotle Mexican Grill by 3.8% in the 1st quarter. D.A. Davidson & CO. now owns 97,904 shares of the restaurant operator's stock worth $4,916,000 after buying an additional 3,571 shares in the last quarter. Mutual Advisors LLC raised its stake in Chipotle Mexican Grill by 20.4% during the first quarter. Mutual Advisors LLC now owns 21,142 shares of the restaurant operator's stock worth $1,095,000 after acquiring an additional 3,576 shares in the last quarter. Mainstream Capital Management LLC lifted its holdings in shares of Chipotle Mexican Grill by 5.1% during the first quarter. Mainstream Capital Management LLC now owns 28,408 shares of the restaurant operator's stock valued at $1,426,000 after acquiring an additional 1,374 shares during the period. Physician Wealth Advisors Inc. boosted its stake in shares of Chipotle Mexican Grill by 116.1% in the 1st quarter. Physician Wealth Advisors Inc. now owns 834 shares of the restaurant operator's stock valued at $42,000 after purchasing an additional 448 shares in the last quarter. Finally, Moody Lynn & Lieberson LLC bought a new stake in shares of Chipotle Mexican Grill in the 1st quarter worth about $1,529,000. Institutional investors and hedge funds 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.