Barclays Cuts Chipotle Mexican Grill (NYSE:CMG) Price Target to $56.00

Chipotle Mexican Grill (NYSE:CMG) had its target price reduced by Barclays from $60.00 to $56.00 in a report published on Tuesday,Benzinga reports. They currently have an equal weight rating on the restaurant operator’s stock.

Several other research firms also recently weighed in on CMG. UBS Group decreased their price target on shares of Chipotle Mexican Grill from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Robert W. Baird lowered their target price on Chipotle Mexican Grill from $68.00 to $62.00 and set an “outperform” rating for the company in a report on Monday, April 7th. Piper Sandler cut their price target on Chipotle Mexican Grill from $60.00 to $59.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. Stephens restated an “equal weight” rating and issued a $54.00 price objective on shares of Chipotle Mexican Grill in a report on Monday. Finally, Citigroup dropped their target price on shares of Chipotle Mexican Grill from $70.00 to $62.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Eight investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $61.96.

Chipotle Mexican Grill Price Performance

Shares of NYSE CMG opened at $49.50 on Tuesday. The firm has a 50-day simple moving average of $50.16 and a two-hundred day simple moving average of $56.33. Chipotle Mexican Grill has a 1 year low of $44.46 and a 1 year high of $69.26. The company has a market cap of $67.09 billion, a P/E ratio of 44.59, a PEG ratio of 2.04 and a beta of 1.27.

Chipotle Mexican Grill (NYSE:CMG) last released its earnings results on Wednesday, April 23rd. The restaurant operator reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.01. The business had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.98 billion. Chipotle Mexican Grill had a return on equity of 42.92% and a net margin of 13.56%. As a group, equities research analysts expect that Chipotle Mexican Grill will post 1.29 EPS for the current year.

Institutional Trading of Chipotle Mexican Grill

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CMG. HighMark Wealth Management LLC raised its stake in shares of Chipotle Mexican Grill by 173.4% in the first quarter. HighMark Wealth Management LLC now owns 585 shares of the restaurant operator’s stock worth $29,000 after purchasing an additional 371 shares during the last quarter. Ethos Financial Group LLC acquired a new position in Chipotle Mexican Grill in the 4th quarter worth approximately $31,000. ORG Wealth Partners LLC purchased a new position in Chipotle Mexican Grill during the 1st quarter worth approximately $31,000. Sound Income Strategies LLC lifted its stake in Chipotle Mexican Grill by 1,110.0% during the 4th 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 during the period. Finally, Murphy & Mullick Capital Management Corp acquired a new stake in Chipotle Mexican Grill during the 4th quarter valued at approximately $38,000. 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.