Truist Financial Cuts Chipotle Mexican Grill (NYSE:CMG) Price Target to $60.00

Key Points

• Truist Financial has lowered its price target for Chipotle Mexican Grill from $64.00 to $60.00, maintaining a "buy" rating, indicating a potential upside of 29.19% from the current stock price.
• Multiple analysts have revised their price targets downward, with Royal Bank of Canada, KeyCorp, and Robert W. Baird all aligning at or below $60.00.
• Despite recent price adjustments, Chipotle Mexican Grill's stock showed a slight gain, trading up 1.5% to reach $46.45 during midday trading.
• The stock has a consensus rating of "Moderate Buy" from analysts, with a current consensus target price of $60.93.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) had its target price cut by equities researchers at Truist Financial from $64.00 to $60.00 in a report released on Friday,Benzinga reports. The firm currently has a "buy" rating on the restaurant operator's stock. Truist Financial's price target indicates a potential upside of 29.19% from the company's current price.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank Of Canada dropped their price target on shares of Chipotle Mexican Grill from $65.00 to $60.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. KeyCorp cut their price objective on Chipotle Mexican Grill from $60.00 to $58.00 and set an "overweight" rating for the company in a research report on Thursday. Robert W. Baird decreased their price objective on Chipotle Mexican Grill from $62.00 to $59.00 and set an "outperform" rating on the stock in a research note on Thursday. Argus downgraded Chipotle Mexican Grill from a "buy" rating to a "hold" rating in a report on Monday, April 28th. Finally, UBS Group raised their price objective on Chipotle Mexican Grill from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Nine analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Chipotle Mexican Grill has a consensus rating of "Moderate Buy" and a consensus target price of $60.93.

Chipotle Mexican Grill Stock Up 1.5%

Shares of NYSE:CMG traded up $0.71 during midday trading on Friday, reaching $46.45. The company's stock had a trading volume of 13,626,383 shares, compared to its average volume of 13,308,209. The firm has a 50 day moving average of $52.86 and a 200-day moving average of $52.70. The firm has a market capitalization of $62.58 billion, a P/E ratio of 41.50, a PEG ratio of 2.64 and a beta of 1.08. Chipotle Mexican Grill has a 12-month low of $44.46 and a 12-month high of $66.74.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.01. Chipotle Mexican Grill had a net margin of 13.32% and a return on equity of 43.32%. The business had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.11 billion. During the same period last year, the firm posted $0.34 EPS. The company's revenue was up 3.0% on a year-over-year basis. On average, research analysts predict that Chipotle Mexican Grill will post 1.29 EPS for the current year.

Insider Buying and Selling at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 113,875 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $49.70, for a total transaction of $5,659,587.50. Following the transaction, the insider owned 109,815 shares of the company's stock, valued at approximately $5,457,805.50. This represents a 50.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.81% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Chipotle Mexican Grill

A number of institutional investors have recently bought and sold shares of CMG. Norges Bank acquired a new stake in Chipotle Mexican Grill in the fourth quarter valued at $1,093,345,000. Nuveen LLC bought a new position in shares of Chipotle Mexican Grill during the first quarter valued at about $535,023,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in Chipotle Mexican Grill by 4,138,574.1% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 8,318,735 shares of the restaurant operator's stock valued at $501,620,000 after acquiring an additional 8,318,534 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Chipotle Mexican Grill by 29.5% in the 4th quarter. Alliancebernstein L.P. now owns 30,100,520 shares of the restaurant operator's stock worth $1,815,061,000 after purchasing an additional 6,853,470 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Chipotle Mexican Grill by 98.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,900,521 shares of the restaurant operator's stock valued at $497,105,000 after buying an additional 4,903,969 shares during the last quarter. 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.

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