Robert W. Baird Cuts Chipotle Mexican Grill (NYSE:CMG) Price Target to $49.00

Key Points

• Robert W. Baird has cut the price target for Chipotle Mexican Grill from $59.00 to $49.00, while maintaining an "outperform" rating on the stock.
• Chipotle's stock traded down by 1.0% to $40.49, with a twelve-month low of $38.30 and high of $66.74.
• The company reported earnings of $0.33 per share, exceeding consensus estimates, although revenue did not meet expectations at $3.06 billion.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) had its target price cut by research analysts at Robert W. Baird from $59.00 to $49.00 in a report released on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the restaurant operator's stock. Robert W. Baird's price target points to a potential upside of 21.03% from the company's previous close.

CMG has been the topic of several other reports. Barclays cut their price objective on shares of Chipotle Mexican Grill from $55.00 to $53.00 and set an "equal weight" rating on the stock in a report on Thursday, July 24th. Weiss Ratings reiterated a "hold (c)" rating on shares of Chipotle Mexican Grill in a report on Wednesday. Citigroup cut their price target on shares of Chipotle Mexican Grill from $68.00 to $62.00 and set a "buy" rating on the stock in a report on Thursday, July 24th. Wells Fargo & Company cut their price target on shares of Chipotle Mexican Grill from $65.00 to $60.00 and set an "overweight" rating on the stock in a report on Thursday, July 24th. Finally, Evercore ISI cut their price target on shares of Chipotle Mexican Grill from $57.00 to $53.00 and set an "outperform" rating on the stock in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Chipotle Mexican Grill currently has a consensus rating of "Moderate Buy" and a consensus price target of $58.93.

Chipotle Mexican Grill Trading Down 1.0%

Shares of Chipotle Mexican Grill stock traded down $0.40 during mid-day trading on Friday, hitting $40.49. 3,165,142 shares of the stock were exchanged, compared to its average volume of 15,174,234. Chipotle Mexican Grill has a twelve month low of $38.30 and a twelve month high of $66.74. The stock has a market capitalization of $54.29 billion, a price-to-earnings ratio of 36.44, a price-to-earnings-growth ratio of 2.09 and a beta of 0.99. The company has a 50-day simple moving average of $41.24 and a 200 day simple moving average of $47.72.

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

Institutional Trading of Chipotle Mexican Grill

Hedge funds have recently made changes to their positions in the stock. Operose Advisors LLC acquired a new stake in shares of Chipotle Mexican Grill during the second quarter worth approximately $25,000. Signature Resources Capital Management LLC acquired a new position in shares of Chipotle Mexican Grill during the second quarter valued at $28,000. Lavaca Capital LLC bought a new stake in shares of Chipotle Mexican Grill during the second quarter valued at about $28,000. Cloud Capital Management LLC bought a new stake in shares of Chipotle Mexican Grill during the first quarter valued at about $25,000. Finally, Activest Wealth Management raised its stake in shares of Chipotle Mexican Grill by 109.3% during the second quarter. Activest Wealth Management now owns 517 shares of the restaurant operator's stock valued at $29,000 after purchasing an additional 270 shares in the last quarter. Institutional investors and hedge funds own 91.30% 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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