Guggenheim Lowers Chipotle Mexican Grill (NYSE:CMG) Price Target to $48.00

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) had its price target lowered by stock analysts at Guggenheim from $56.00 to $48.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the restaurant operator's stock. Guggenheim's price target would indicate a potential downside of 7.57% from the company's current price.

A number of other research analysts have also recently issued reports on CMG. Morgan Stanley upgraded Chipotle Mexican Grill from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $65.00 to $70.00 in a research note on Monday, March 3rd. Raymond James dropped their price target on shares of Chipotle Mexican Grill from $72.00 to $69.00 and set an "outperform" rating on the stock in a research note on Tuesday, January 28th. Piper Sandler cut their price objective on shares of Chipotle Mexican Grill from $60.00 to $59.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 5th. Wells Fargo & Company decreased their target price on shares of Chipotle Mexican Grill from $70.00 to $60.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Finally, Stifel Nicolaus cut their price target on shares of Chipotle Mexican Grill from $68.00 to $65.00 and set a "buy" rating on the stock in a report on Wednesday, March 19th. Eight research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Chipotle Mexican Grill currently has an average rating of "Moderate Buy" and a consensus price target of $61.78.

Chipotle Mexican Grill Stock Up 4.8 %

Shares of CMG stock traded up $2.39 during mid-day trading on Tuesday, reaching $51.93. 26,657,351 shares of the company's stock traded hands, compared to its average volume of 13,469,142. The company's 50-day moving average price is $50.11 and its 200-day moving average price is $56.28. The company has a market cap of $70.38 billion, a P/E ratio of 46.78, a P/E/G ratio of 2.04 and a beta of 1.27. Chipotle Mexican Grill has a 12 month low of $44.46 and a 12 month high of $69.26.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The restaurant operator reported $0.29 EPS for the quarter, topping the consensus estimate of $0.28 by $0.01. Chipotle Mexican Grill had a net margin of 13.56% and a return on equity of 42.92%. The business had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.98 billion. Equities analysts predict that Chipotle Mexican Grill will post 1.29 earnings per share for the current year.

Hedge Funds Weigh In On Chipotle Mexican Grill

Institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Chipotle Mexican Grill during the 4th quarter valued at about $1,093,345,000. Alphinity Investment Management Pty Ltd purchased a new position in Chipotle Mexican Grill during the fourth quarter valued at approximately $692,701,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in shares of Chipotle Mexican Grill by 4,138,574.1% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 8,318,735 shares of the restaurant operator's stock worth $501,620,000 after purchasing an additional 8,318,534 shares during the period. Alliancebernstein L.P. boosted its position in shares of Chipotle Mexican Grill by 29.5% in the fourth quarter. Alliancebernstein L.P. now owns 30,100,520 shares of the restaurant operator's stock worth $1,815,061,000 after purchasing an additional 6,853,470 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Chipotle Mexican Grill in the fourth quarter worth $315,220,000. 91.31% of the stock is owned by institutional investors.

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.