Chipotle Mexican Grill (NYSE:CMG) Given New $62.00 Price Target at Citigroup

Chipotle Mexican Grill (NYSE:CMG) had its price objective reduced by analysts at Citigroup from $70.00 to $62.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the restaurant operator’s stock. Citigroup’s target price suggests a potential upside of 18.59% from the company’s previous close.

Other research analysts have also issued reports about the stock. Morgan Stanley raised shares of Chipotle Mexican Grill from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $65.00 to $70.00 in a research note on Monday, March 3rd. KeyCorp cut their price objective on shares of Chipotle Mexican Grill from $66.00 to $64.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Wells Fargo & Company decreased their target price on Chipotle Mexican Grill from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $70.00 price target on shares of Chipotle Mexican Grill in a report on Tuesday, January 28th. Finally, Evercore ISI boosted their price objective on Chipotle Mexican Grill from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, December 5th. Eight equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $66.38.

Chipotle Mexican Grill Stock Performance

Shares of CMG stock traded up $0.61 during mid-day trading on Wednesday, hitting $52.28. The company’s stock had a trading volume of 4,544,835 shares, compared to its average volume of 12,149,362. The company has a market cap of $70.86 billion, a PE ratio of 47.09, a P/E/G ratio of 2.04 and a beta of 1.27. The company’s fifty day simple moving average is $53.58 and its 200-day simple moving average is $57.50. Chipotle Mexican Grill has a 52 week low of $47.55 and a 52 week high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Tuesday, February 4th. The restaurant operator reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. Chipotle Mexican Grill had a return on equity of 42.92% and a net margin of 13.56%. On average, equities analysts anticipate that Chipotle Mexican Grill will post 1.29 earnings per share for the current year.

Institutional Trading of Chipotle Mexican Grill

Institutional investors have recently modified their holdings of the company. Ethos Financial Group LLC bought a new position in Chipotle Mexican Grill during the 4th quarter valued at approximately $31,000. Sound Income Strategies LLC raised its holdings in shares of Chipotle Mexican Grill by 1,110.0% during the fourth quarter. Sound Income Strategies LLC now owns 605 shares of the restaurant operator’s stock valued at $36,000 after acquiring an additional 555 shares in the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in Chipotle Mexican Grill in the fourth quarter worth $38,000. Financial Life Planners bought a new stake in Chipotle Mexican Grill in the fourth quarter valued at $45,000. Finally, Mascagni Wealth Management Inc. purchased a new position in Chipotle Mexican Grill during the 4th quarter valued at $45,000. 91.31% of the stock is currently owned by hedge funds and other institutional investors.

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.