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

Key Points

• Raymond James cut its price target on Chipotle from $43 to $41 but kept an Outperform rating, implying roughly a 14.6% upside from the prior close.
• Analyst consensus is a Moderate Buy with 24 Buys vs. 12 Holds and an average price target of $47, while individual current targets cited in the note cluster around about $35–$44.
• Fundamentals: Chipotle beat Q results (EPS $0.25 vs. $0.24 est.) and reported $2.98B revenue (+4.9% YoY); shares trade near $35.78 with a P/E of ~31 and roughly 91% institutional ownership.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) had its target price cut by equities researchers at Raymond James Financial from $43.00 to $41.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the restaurant operator's stock. Raymond James Financial's price objective indicates a potential upside of 14.61% from the stock's previous close.

A number of other research firms have also issued reports on CMG. TD Cowen reissued a "buy" rating and set a $44.00 price target on shares of Chipotle Mexican Grill in a report on Friday, March 20th. Zacks Research raised Chipotle Mexican Grill from a "strong sell" rating to a "hold" rating in a report on Friday. Gordon Haskett lowered Chipotle Mexican Grill from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 8th. Citigroup lowered their price objective on Chipotle Mexican Grill from $49.00 to $44.00 and set a "buy" rating on the stock in a report on Tuesday, April 14th. Finally, Stephens reaffirmed an "equal weight" rating and issued a $35.00 price objective on shares of Chipotle Mexican Grill in a report on Wednesday, February 4th. Twenty-four investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, Chipotle Mexican Grill has an average rating of "Moderate Buy" and a consensus price target of $47.00.

Chipotle Mexican Grill Stock Down 0.2%

NYSE CMG opened at $35.78 on Tuesday. Chipotle Mexican Grill has a 52-week low of $29.75 and a 52-week high of $58.42. The business's 50-day moving average price is $34.89 and its 200 day moving average price is $36.30. The firm has a market cap of $46.59 billion, a P/E ratio of 31.38, a P/E/G ratio of 2.18 and a beta of 1.06.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last released its quarterly earnings results on Tuesday, February 3rd. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.01. Chipotle Mexican Grill had a return on equity of 47.99% and a net margin of 12.88%.The firm had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same quarter last year, the company posted $0.25 earnings per share. The business's revenue was up 4.9% on a year-over-year basis. As a group, analysts anticipate that Chipotle Mexican Grill will post 1.14 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Louisiana State Employees Retirement System acquired a new position in shares of Chipotle Mexican Grill during the 1st quarter worth approximately $2,125,000. Ritholtz Wealth Management increased its holdings in shares of Chipotle Mexican Grill by 8.8% during the 1st quarter. Ritholtz Wealth Management now owns 8,863 shares of the restaurant operator's stock worth $284,000 after buying an additional 715 shares during the last quarter. OP Asset Management Ltd acquired a new stake in shares of Chipotle Mexican Grill during the 1st quarter worth $4,349,000. Cache Advisors LLC acquired a new stake in shares of Chipotle Mexican Grill during the 1st quarter worth $146,000. Finally, Western Pacific Wealth Management LP increased its holdings in shares of Chipotle Mexican Grill by 26.3% during the 1st quarter. Western Pacific Wealth Management LP now owns 2,023 shares of the restaurant operator's stock worth $65,000 after buying an additional 421 shares during the last quarter. 91.30% of the stock is currently owned by institutional investors and hedge funds.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill is a fast-casual restaurant company known for its Mexican-inspired menu of burritos, bowls, tacos and salads. Founded in 1993 by Steve Ells, the chain emphasizes fresh, customizable meals made from a limited menu of core ingredients and a focus on ingredient quality. Chipotle operates primarily company-owned restaurants and offers dine-in, takeout, catering and delivery through its own digital platforms and third-party partners.

The company is headquartered in Newport Beach, California, and traces its roots to Denver, Colorado.

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