Truist Financial Has Lowered Expectations for Chipotle Mexican Grill (NYSE:CMG) Stock Price

Key Points

• Truist Financial has reduced its price target for Chipotle Mexican Grill (NYSE:CMG) from $60.00 to $53.00, indicating a potential upside of 25.13% based on the stock’s previous close.
• Multiple research firms have adjusted their price targets for CMG, with Jefferies lowering it to $44.00 and UBS raising it to $65.00, reflecting diverse perspectives on the stock's future performance.
• Chipotle's stock recently traded at $42.36 with a twelve-month trading range between $38.30 and $66.74, highlighting its current valuation amid fluctuating investor sentiment.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) had its price target dropped by equities researchers at Truist Financial from $60.00 to $53.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the restaurant operator's stock. Truist Financial's target price points to a potential upside of 25.13% from the company's previous close.

Several other research firms have also recently weighed in on CMG. Jefferies Financial Group lowered their price target on shares of Chipotle Mexican Grill from $48.00 to $44.00 and set a "hold" rating on the stock in a report on Monday. UBS Group increased their price objective on shares of Chipotle Mexican Grill from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Raymond James Financial reduced their price objective on shares of Chipotle Mexican Grill from $60.00 to $56.00 and set an "outperform" rating on the stock in a research note on Friday, August 15th. Guggenheim cut their price target on shares of Chipotle Mexican Grill from $47.00 to $46.00 and set a "neutral" rating for the company in a report on Friday, July 25th. Finally, KeyCorp lowered their price objective on shares of Chipotle Mexican Grill from $60.00 to $58.00 and set an "overweight" rating for the company in a research report on Thursday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $58.07.

Chipotle Mexican Grill Stock Performance

NYSE CMG traded up $1.46 during trading hours on Tuesday, hitting $42.36. 13,178,371 shares of the company traded hands, compared to its average volume of 15,219,723. The stock has a market capitalization of $56.79 billion, a price-to-earnings ratio of 37.84, a P/E/G ratio of 2.04 and a beta of 0.99. Chipotle Mexican Grill has a twelve month low of $38.30 and a twelve month high of $66.74. The business's 50-day moving average is $41.15 and its 200-day moving average is $47.55.

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

Hedge Funds Weigh In On Chipotle Mexican Grill

A number of hedge funds have recently modified their holdings of the business. Cloud Capital Management LLC acquired a new stake in shares of Chipotle Mexican Grill in the first quarter valued at about $25,000. Operose Advisors LLC bought a new stake in Chipotle Mexican Grill in the second quarter valued at approximately $25,000. Saudi Central Bank acquired a new position in shares of Chipotle Mexican Grill in the 1st quarter worth approximately $27,000. 1248 Management LLC acquired a new position in shares of Chipotle Mexican Grill in the 1st quarter worth approximately $27,000. Finally, Signature Resources Capital Management LLC acquired a new position in shares of Chipotle Mexican Grill in the 2nd quarter worth approximately $28,000. Institutional investors and hedge funds own 91.30% 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.