Citigroup Issues Pessimistic Forecast for Chipotle Mexican Grill (NYSE:CMG) Stock Price

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) had its price objective lowered by Citigroup from $68.00 to $62.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the restaurant operator's stock. Citigroup's target price indicates a potential upside of 35.66% from the stock's current price.

Several other equities analysts have also recently weighed in on CMG. TD Cowen dropped their price target on shares of Chipotle Mexican Grill from $61.00 to $58.00 and set a "buy" rating on the stock in a research report on Wednesday. Argus downgraded shares of Chipotle Mexican Grill from a "buy" rating to a "hold" rating in a research report on Monday, April 28th. KeyCorp decreased their price target on shares of Chipotle Mexican Grill from $60.00 to $58.00 and set an "overweight" rating on the stock in a research note on Thursday. BMO Capital Markets raised shares of Chipotle Mexican Grill from a "market perform" rating to an "outperform" rating and increased their price objective for the stock from $56.00 to $65.00 in a research report on Friday, July 18th. Finally, Guggenheim set a $47.00 price objective on shares of Chipotle Mexican Grill in a research report on Friday, April 25th. Nine analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $61.14.

Chipotle Mexican Grill Stock Performance

NYSE:CMG traded down $7.08 during trading hours on Thursday, hitting $45.70. 40,715,934 shares of the company's stock traded hands, compared to its average volume of 13,029,821. The firm has a market cap of $61.58 billion, a P/E ratio of 40.32, a P/E/G ratio of 2.62 and a beta of 1.08. Chipotle Mexican Grill has a twelve month low of $44.46 and a twelve month high of $66.74. The stock's fifty day moving average price is $52.98 and its two-hundred day moving average price is $52.78.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.01. Chipotle Mexican Grill had a return on equity of 43.29% and a net margin of 13.59%. The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.11 billion. During the same quarter in the prior year, the company posted $0.34 EPS. The firm's revenue was up 3.0% on a year-over-year basis. On average, equities research analysts predict that Chipotle Mexican Grill will post 1.29 earnings per share for the current year.

Insider Transactions at Chipotle Mexican Grill

In other news, insider Roger E. Theodoredis sold 113,875 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $49.70, for a total value of $5,659,587.50. Following the completion of the sale, the insider directly owned 109,815 shares in the company, valued at approximately $5,457,805.50. This trade represents a 50.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.81% of the stock is owned by corporate insiders.

Institutional Trading of Chipotle Mexican Grill

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Community Trust & Investment Co. acquired a new stake in shares of Chipotle Mexican Grill during the first quarter worth about $7,773,000. Headlands Technologies LLC acquired a new stake in shares of Chipotle Mexican Grill during the fourth quarter worth about $488,000. Valicenti Advisory Services Inc. acquired a new stake in shares of Chipotle Mexican Grill during the first quarter worth about $3,317,000. Interval Partners LP acquired a new stake in shares of Chipotle Mexican Grill during the fourth quarter worth about $51,811,000. Finally, Gibraltar Capital Management Inc. acquired a new stake in shares of Chipotle Mexican Grill during the first quarter worth about $4,343,000. 91.31% of the stock is currently owned by institutional investors and hedge funds.

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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