JPMorgan Chase & Co. Issues Pessimistic Forecast for Chipotle Mexican Grill (NYSE:CMG) Stock Price

Chipotle Mexican Grill (NYSE:CMG - Free Report) had its target price lowered by JPMorgan Chase & Co. from $58.00 to $54.00 in a report issued on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the restaurant operator's stock.

A number of other research firms have also weighed in on CMG. Citigroup reduced their price objective on shares of Chipotle Mexican Grill from $70.00 to $62.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Stifel Nicolaus reduced their price objective on shares of Chipotle Mexican Grill from $68.00 to $65.00 and set a "buy" rating for the company in a research note on Wednesday, March 19th. Robert W. Baird reduced their price objective on shares of Chipotle Mexican Grill from $62.00 to $56.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. TD Securities reduced their price objective on shares of Chipotle Mexican Grill from $60.00 to $57.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Finally, Truist Financial reduced their price target on shares of Chipotle Mexican Grill from $74.00 to $61.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Nine investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given 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 target price of $61.60.

Chipotle Mexican Grill Price Performance

CMG traded up $0.39 during trading on Thursday, hitting $50.12. 14,823,367 shares of the stock traded hands, compared to its average volume of 13,504,044. The firm has a 50-day moving average of $50.04 and a 200 day moving average of $54.95. Chipotle Mexican Grill has a 12-month low of $44.46 and a 12-month high of $69.26. The firm has a market capitalization of $67.53 billion, a P/E ratio of 45.15, a price-to-earnings-growth ratio of 2.04 and a beta of 1.11.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The restaurant operator reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $2.88 billion during the quarter, compared to analysts' expectations of $2.98 billion. During the same period last year, the company posted $13.37 EPS. Chipotle Mexican Grill's revenue was up 6.4% on a year-over-year basis. As a group, equities analysts predict that Chipotle Mexican Grill will post 1.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Chipotle Mexican Grill by 1.3% during the first quarter. Vanguard Group Inc. now owns 122,463,327 shares of the restaurant operator's stock worth $6,148,884,000 after purchasing an additional 1,597,287 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Chipotle Mexican Grill by 7.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 56,827,332 shares of the restaurant operator's stock worth $2,853,302,000 after buying an additional 4,027,016 shares during the period. Alliancebernstein L.P. increased its stake in shares of Chipotle Mexican Grill by 8.0% during the first quarter. Alliancebernstein L.P. now owns 32,505,318 shares of the restaurant operator's stock worth $1,632,092,000 after buying an additional 2,404,798 shares during the period. Geode Capital Management LLC increased its stake in shares of Chipotle Mexican Grill by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 28,476,031 shares of the restaurant operator's stock worth $1,712,238,000 after buying an additional 395,053 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of Chipotle Mexican Grill by 2.1% during the first quarter. American Century Companies Inc. now owns 20,662,628 shares of the restaurant operator's stock worth $1,037,471,000 after buying an additional 425,648 shares during the period. Institutional investors and hedge funds own 91.31% of the company's stock.

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.