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

Key Points

• KeyCorp has lowered its price target for Chipotle Mexican Grill from $58.00 to $52.00, maintaining an "overweight" rating, indicating a potential upside of 24.03% based on previous closing prices.
• Analysts from multiple firms have provided mixed ratings on Chipotle, with 21 giving a "Buy" rating, while the consensus target price for the stock is currently $57.34.
• Chipotle's shares opened at $41.93 and have experienced a 12-month low of $38.30 and a high of $66.74, showcasing notable volatility in its stock performance.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) had its price objective reduced by investment analysts at KeyCorp from $58.00 to $52.00 in a report released on Monday,Benzinga reports. The firm currently has an "overweight" rating on the restaurant operator's stock. KeyCorp's target price points to a potential upside of 24.03% from the company's previous close.

CMG has been the subject of several other reports. Sanford C. Bernstein cut their price target on Chipotle Mexican Grill from $65.00 to $60.00 and set an "outperform" rating for the company in a research note on Thursday, October 2nd. Morgan Stanley cut their price target on Chipotle Mexican Grill from $65.00 to $59.00 and set an "overweight" rating for the company in a research note on Wednesday, October 15th. Rothschild Redb upgraded Chipotle Mexican Grill from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 3rd. UBS Group upped their target price on Chipotle Mexican Grill from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Finally, Jefferies Financial Group cut their target price on Chipotle Mexican Grill from $48.00 to $44.00 and set a "hold" rating for the company in a research note on Monday, October 13th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, Chipotle Mexican Grill presently has a consensus rating of "Moderate Buy" and an average target price of $57.34.

Chipotle Mexican Grill Stock Up 0.4%

Shares of NYSE:CMG opened at $41.93 on Monday. Chipotle Mexican Grill has a 12-month low of $38.30 and a 12-month high of $66.74. The stock has a market cap of $56.22 billion, a PE ratio of 37.43, a P/E/G ratio of 2.53 and a beta of 0.99. The business has a 50 day moving average of $41.11 and a 200-day moving average of $47.29.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.01. The company had revenue of $3.06 billion during the quarter, compared to analysts' expectations 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 revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.34 earnings per share. Equities research analysts expect that Chipotle Mexican Grill will post 1.29 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Norges Bank acquired a new stake in Chipotle Mexican Grill in the second quarter valued at $1,001,668,000. Nuveen LLC acquired a new stake in Chipotle Mexican Grill in the first quarter valued at $535,023,000. Sustainable Growth Advisers LP acquired a new stake in Chipotle Mexican Grill in the second quarter valued at $597,031,000. Goldman Sachs Group Inc. increased its holdings in Chipotle Mexican Grill by 98.1% in the first quarter. Goldman Sachs Group Inc. now owns 9,900,521 shares of the restaurant operator's stock valued at $497,105,000 after purchasing an additional 4,903,969 shares during the period. Finally, Montrusco Bolton Investments Inc. increased its holdings in Chipotle Mexican Grill by 5,319.7% in the first quarter. Montrusco Bolton Investments Inc. now owns 4,848,990 shares of the restaurant operator's stock valued at $235,580,000 after purchasing an additional 4,759,520 shares during the period. 91.30% of the stock is currently 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.

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