Raymond James Financial Issues Pessimistic Forecast for Chipotle Mexican Grill (NYSE:CMG) Stock Price

Key Points

• Raymond James Financial has decreased its price target for Chipotle Mexican Grill from $60.00 to $56.00, though it maintains an "outperform" rating, indicating a potential upside of 27.81% from the stock's previous close.
• Multiple research firms have revised their price targets for Chipotle, with UBS increasing it to $65.00 while others such as KeyCorp and Barclays have lowered theirs.
• Chipotle Mexican Grill recently reported earnings exceeding analyst estimates, with a net margin of 13.32%, though revenue fell short of expectations at $3.06 billion.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) had its price objective lowered by equities researchers at Raymond James Financial from $60.00 to $56.00 in a report released on Friday,Benzinga reports. The firm presently has an "outperform" rating on the restaurant operator's stock. Raymond James Financial's target price points to a potential upside of 27.81% from the stock's previous close.

A number of other equities research analysts have also recently commented on the company. KeyCorp reduced their price objective on Chipotle Mexican Grill from $60.00 to $58.00 and set an "overweight" rating for the company in a research note on Thursday, July 24th. UBS Group lifted their target price on Chipotle Mexican Grill from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Robert W. Baird lowered their price target on Chipotle Mexican Grill from $62.00 to $59.00 and set an "outperform" rating for the company in a research report on Thursday, July 24th. Barclays lowered their price target on Chipotle Mexican Grill from $55.00 to $53.00 and set an "equal weight" rating for the company in a research report on Thursday, July 24th. Finally, Evercore ISI lowered their price target on Chipotle Mexican Grill from $64.00 to $57.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Eight equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Chipotle Mexican Grill presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.22.

Chipotle Mexican Grill Trading Up 1.5%

NYSE CMG traded up $0.65 during trading hours on Friday, hitting $43.82. 9,220,137 shares of the company's stock were exchanged, compared to its average volume of 14,118,033. The stock has a 50-day simple moving average of $50.54 and a 200 day simple moving average of $51.25. Chipotle Mexican Grill has a 1-year low of $41.18 and a 1-year high of $66.74. The firm has a market cap of $58.75 billion, a price-to-earnings ratio of 39.14, a PEG ratio of 2.21 and a beta of 1.05.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last released its earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 EPS for the quarter, topping the consensus estimate of $0.32 by $0.01. Chipotle Mexican Grill had a return on equity of 43.50% and a net margin of 13.32%. The business had revenue of $3.06 billion during the quarter, compared to analysts' expectations of $3.11 billion. During the same quarter last year, the firm posted $0.34 earnings per share. The firm's revenue was up 3.0% on a year-over-year basis. On average, sell-side analysts anticipate that Chipotle Mexican Grill will post 1.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Chipotle Mexican Grill

In related news, insider Roger E. Theodoredis sold 113,875 shares of the company's stock in a transaction that occurred 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 sale, the insider owned 109,815 shares in the company, valued at $5,457,805.50. This represents a 50.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.81% of the stock is owned by insiders.

Institutional Trading of Chipotle Mexican Grill

Several hedge funds and other institutional investors have recently made changes to their positions in CMG. Revolve Wealth Partners LLC increased its holdings in Chipotle Mexican Grill by 4.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 4,804 shares of the restaurant operator's stock worth $290,000 after buying an additional 214 shares in the last quarter. Bank Pictet & Cie Europe AG increased its holdings in Chipotle Mexican Grill by 22.5% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 1,518,593 shares of the restaurant operator's stock worth $91,571,000 after buying an additional 279,267 shares in the last quarter. NewEdge Advisors LLC increased its holdings in Chipotle Mexican Grill by 8.7% in the 4th quarter. NewEdge Advisors LLC now owns 132,724 shares of the restaurant operator's stock worth $8,003,000 after buying an additional 10,622 shares in the last quarter. GKV Capital Management Co. Inc. bought a new stake in Chipotle Mexican Grill in the 4th quarter worth about $60,000. Finally, CANADA LIFE ASSURANCE Co increased its holdings in Chipotle Mexican Grill by 0.6% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,445,242 shares of the restaurant operator's stock worth $87,115,000 after buying an additional 8,609 shares in the last quarter. Hedge funds and other institutional investors own 91.31% of the company's stock.

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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