Chipotle Mexican Grill (NYSE:CMG) Price Target Cut to $60.00 by Analysts at Sanford C. Bernstein

Key Points

• Chipotle Mexican Grill's price target was cut by Sanford C. Bernstein from $65.00 to $60.00, maintaining an "outperform" rating, which suggests a potential upside of 50.92% from its current price.
• Overall, analysts have shown a consensus rating of "Moderate Buy" for Chipotle Mexican Grill, with an average price target of $59.41.
• The stock has seen fluctuating performance, with a twelve-month low of $38.30 and a high of $66.74, currently trading around $39.76.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) had its price target decreased by analysts at Sanford C. Bernstein from $65.00 to $60.00 in a research note issued on Thursday, Marketbeat.com reports. The brokerage presently has an "outperform" rating on the restaurant operator's stock. Sanford C. Bernstein's target price would indicate a potential upside of 50.92% from the stock's current price.

A number of other analysts have also recently weighed in on the company. Stephens restated an "equal weight" rating and issued a $60.00 price objective on shares of Chipotle Mexican Grill in a research note on Monday. Redburn Atlantic initiated coverage on shares of Chipotle Mexican Grill in a report on Tuesday, June 10th. They set a "neutral" rating and a $55.00 price target for the company. TD Cowen reaffirmed a "buy" rating and issued a $58.00 price target on shares of Chipotle Mexican Grill in a research report on Friday, September 19th. BMO Capital Markets raised Chipotle Mexican Grill from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $56.00 to $65.00 in a research report on Friday, July 18th. Finally, Wells Fargo & Company lowered their target price on Chipotle Mexican Grill from $65.00 to $60.00 and set an "overweight" rating on the stock in a report on Thursday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $59.41.

Chipotle Mexican Grill Stock Performance

NYSE:CMG traded up $0.79 during trading hours on Thursday, hitting $39.76. 5,505,832 shares of the company's stock traded hands, compared to its average volume of 15,066,595. The firm has a market cap of $53.31 billion, a P/E ratio of 35.49, a P/E/G ratio of 2.00 and a beta of 0.99. Chipotle Mexican Grill has a twelve month low of $38.30 and a twelve month high of $66.74. The stock's fifty day moving average price is $41.68 and its two-hundred day moving average price is $48.04.

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

Institutional Investors Weigh In On Chipotle Mexican Grill

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Cloud Capital Management LLC acquired a new position in Chipotle Mexican Grill in the first quarter valued at approximately $25,000. Operose Advisors LLC acquired a new position in shares of Chipotle Mexican Grill in the 2nd quarter valued at $25,000. Saudi Central Bank bought a new position in shares of Chipotle Mexican Grill in the 1st quarter worth $27,000. 1248 Management LLC acquired a new stake in shares of Chipotle Mexican Grill during the first quarter worth $27,000. Finally, Signature Resources Capital Management LLC bought a new stake in Chipotle Mexican Grill in the second quarter valued at about $28,000. Institutional investors 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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