Chipotle Mexican Grill (NYSE:CMG) Price Target Cut to $43.00 by Analysts at Barclays

Key Points

• Barclays has cut its target price for Chipotle Mexican Grill from $53.00 to $43.00, maintaining an "equal weight" rating on the stock, indicating a potential upside of only 1.49% from the previous close.
• Overall, Chipotle's average price target among analysts now stands at $56.69, with a notable number of analysts rating the stock as a "Moderate Buy."
• Despite recent price cuts from several firms, including KeyCorp and Wells Fargo, Chipotle's stock has shown resilience, holding steady with a market cap of $56.81 billion.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) had its target price cut by equities research analysts at Barclays from $53.00 to $43.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the restaurant operator's stock. Barclays's price objective would indicate a potential upside of 1.49% from the company's previous close.

A number of other equities research analysts have also commented on CMG. KeyCorp reduced their price objective on shares of Chipotle Mexican Grill from $58.00 to $52.00 and set an "overweight" rating on the stock in a research note on Monday. Wells Fargo & Company reduced their price objective on shares of Chipotle Mexican Grill from $60.00 to $55.00 and set an "overweight" rating on the stock in a research note on Thursday, October 16th. Evercore ISI cut their target price on shares of Chipotle Mexican Grill from $57.00 to $53.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 7th. Morgan Stanley cut their target price on shares of Chipotle Mexican Grill from $65.00 to $59.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 15th. Finally, Guggenheim cut their target price on shares of Chipotle Mexican Grill from $47.00 to $46.00 and set a "neutral" rating on the stock in a research note on Friday, July 25th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $56.69.

Chipotle Mexican Grill Stock Performance

NYSE:CMG opened at $42.37 on Wednesday. The firm's fifty day moving average is $41.10 and its 200-day moving average is $47.22. Chipotle Mexican Grill has a 52 week low of $38.30 and a 52 week high of $66.74. The firm has a market cap of $56.81 billion, a P/E ratio of 37.83, a P/E/G ratio of 2.52 and a beta of 0.99.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The restaurant operator reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $0.01. Chipotle Mexican Grill had a net margin of 13.32% and a return on equity of 43.50%. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same period in the prior year, the firm posted $0.34 EPS. The company's quarterly revenue was up 3.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Chipotle Mexican Grill will post 1.29 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Ascent Group LLC raised its holdings in shares of Chipotle Mexican Grill by 3.5% in the second quarter. Ascent Group LLC now owns 5,752 shares of the restaurant operator's stock valued at $323,000 after purchasing an additional 193 shares during the last quarter. E. Ohman J or Asset Management AB raised its holdings in shares of Chipotle Mexican Grill by 0.3% in the second quarter. E. Ohman J or Asset Management AB now owns 59,234 shares of the restaurant operator's stock valued at $3,326,000 after purchasing an additional 194 shares during the last quarter. Occidental Asset Management LLC raised its holdings in shares of Chipotle Mexican Grill by 2.8% in the second quarter. Occidental Asset Management LLC now owns 7,257 shares of the restaurant operator's stock valued at $407,000 after purchasing an additional 195 shares during the last quarter. Perennial Advisors LLC raised its holdings in shares of Chipotle Mexican Grill by 3.1% in the second quarter. Perennial Advisors LLC now owns 6,667 shares of the restaurant operator's stock valued at $374,000 after purchasing an additional 200 shares during the last quarter. Finally, Quent Capital LLC raised its holdings in shares of Chipotle Mexican Grill by 2.0% in the second quarter. Quent Capital LLC now owns 10,555 shares of the restaurant operator's stock valued at $593,000 after purchasing an additional 208 shares during the last quarter. Institutional investors and hedge funds own 91.30% of the company's stock.

Chipotle Mexican Grill Company Profile

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.

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