Guggenheim Lowers Chipotle Mexican Grill (NYSE:CMG) Price Target to $46.00

Key Points

• Guggenheim has reduced Chipotle Mexican Grill's price target from $47.00 to $46.00, maintaining a "neutral" rating on the stock.
• In addition to Guggenheim, other analysts have also lowered their price targets, with Citigroup revising theirs to $62.00 and Royal Bank of Canada to $60.00.
• Chipotle reported a quarterly earnings per share (EPS) of $0.33, surpassing analysts' expectations, while its revenue of $3.06 billion was slightly below the anticipated $3.11 billion.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) had its price objective reduced by research analysts at Guggenheim from $47.00 to $46.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the restaurant operator's stock. Guggenheim's target price indicates a potential upside of 0.58% from the stock's current price.

Several other research analysts have also recently issued reports on CMG. Citigroup reduced their price objective on Chipotle Mexican Grill from $68.00 to $62.00 and set a "buy" rating for the company in a research note on Thursday. Royal Bank Of Canada reduced their price objective on Chipotle Mexican Grill from $65.00 to $60.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Argus cut Chipotle Mexican Grill from a "buy" rating to a "hold" rating in a research note on Monday, April 28th. Wells Fargo & Company reduced their price objective on Chipotle Mexican Grill from $65.00 to $60.00 and set an "overweight" rating for the company in a research note on Thursday. Finally, Robert W. Baird reduced their price objective on Chipotle Mexican Grill from $62.00 to $59.00 and set an "outperform" rating for the company in a research note on Thursday. Nine research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $61.07.

Chipotle Mexican Grill Price Performance

Shares of NYSE CMG opened at $45.74 on Friday. The stock has a market capitalization of $61.62 billion, a P/E ratio of 40.84, a price-to-earnings-growth ratio of 2.64 and a beta of 1.08. Chipotle Mexican Grill has a 1-year low of $44.46 and a 1-year high of $66.74. The business has a fifty day moving average price of $52.86 and a 200 day moving average price of $52.70.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last released its quarterly 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. Chipotle Mexican Grill had a return on equity of 43.32% and a net margin of 13.32%. The company had revenue of $3.06 billion during the quarter, compared to analysts' expectations of $3.11 billion. During the same period last year, the business posted $0.34 earnings per share. The firm's revenue was up 3.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Chipotle Mexican Grill will post 1.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Roger E. Theodoredis sold 113,875 shares of the company's stock in a transaction on Monday, June 2nd. The shares were 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 represents a 50.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.81% of the company's stock.

Institutional Investors Weigh In On Chipotle Mexican Grill

Large investors have recently bought and sold shares of the business. Ascent Group LLC lifted its position in Chipotle Mexican Grill by 3.5% during the 2nd quarter. Ascent Group LLC now owns 5,752 shares of the restaurant operator's stock worth $323,000 after acquiring an additional 193 shares during the last quarter. E. Ohman J or Asset Management AB grew its stake in shares of Chipotle Mexican Grill by 0.3% during 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 grew its stake in shares of Chipotle Mexican Grill by 2.8% during 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 boosted its stake in 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 acquiring an additional 200 shares during the last quarter. Finally, Quent Capital LLC boosted its stake in 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 acquiring an additional 208 shares during the last quarter. 91.31% of the stock is currently owned by institutional investors.

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.

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