Chipotle Mexican Grill (NYSE:CMG) Price Target Cut to $55.00 by Analysts at Wells Fargo & Company

Key Points

• Wells Fargo & Company has reduced Chipotle Mexican Grill's price target from $60.00 to $55.00, while maintaining an "overweight" rating, indicating a potential upside of 31.69% from the stock's previous close.
• Other brokerages have varied target prices for Chipotle, with estimates ranging from $53.00 to $65.00, resulting in a consensus price target of $57.69 and a rating of "Moderate Buy."
• Chipotle's recent quarterly earnings showed a profit of $0.33 per share, slightly exceeding analyst expectations, despite revenue falling short of estimates at $3.06 billion.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) had its price target reduced by Wells Fargo & Company from $60.00 to $55.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the restaurant operator's stock. Wells Fargo & Company's target price would suggest a potential upside of 31.69% from the stock's previous close.

Several other brokerages also recently issued reports on CMG. Stephens reiterated an "equal weight" rating and set a $60.00 price target on shares of Chipotle Mexican Grill in a report on Monday, September 29th. Evercore ISI dropped their target price on Chipotle Mexican Grill from $57.00 to $53.00 and set an "outperform" rating for the company in a research report on Tuesday, October 7th. BTIG Research reissued a "buy" rating and set a $57.00 price target on shares of Chipotle Mexican Grill in a research note on Friday, September 5th. UBS Group upped their price objective on Chipotle Mexican Grill from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Finally, Melius assumed coverage on shares of Chipotle Mexican Grill in a report on Monday, July 14th. They issued a "hold" rating and a $60.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $57.69.

Chipotle Mexican Grill Trading Down 0.8%

Shares of NYSE CMG opened at $41.77 on Thursday. The company has a market cap of $56.00 billion, a price-to-earnings ratio of 37.29, a PEG ratio of 2.54 and a beta of 0.99. Chipotle Mexican Grill has a 12 month low of $38.30 and a 12 month high of $66.74. The stock has a 50-day moving average price of $41.12 and a two-hundred day moving average price of $47.47.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Revolve Wealth Partners LLC raised its stake in Chipotle Mexican Grill by 4.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 4,804 shares of the restaurant operator's stock worth $290,000 after buying an additional 214 shares during the last quarter. Bison Wealth LLC bought a new position in shares of Chipotle Mexican Grill in the 4th quarter worth about $224,000. Wealth Enhancement Advisory Services LLC raised its position in shares of Chipotle Mexican Grill by 13.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 373,432 shares of the restaurant operator's stock worth $18,750,000 after acquiring an additional 45,296 shares in the last quarter. Ritholtz Wealth Management lifted its stake in shares of Chipotle Mexican Grill by 20.1% in the 1st quarter. Ritholtz Wealth Management now owns 9,934 shares of the restaurant operator's stock valued at $499,000 after purchasing an additional 1,660 shares during the period. Finally, Exchange Traded Concepts LLC boosted its position in shares of Chipotle Mexican Grill by 38.9% during the 1st quarter. Exchange Traded Concepts LLC now owns 13,176 shares of the restaurant operator's stock valued at $662,000 after purchasing an additional 3,689 shares in 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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