Chipotle Mexican Grill (NYSE:CMG) Price Target Cut to $53.00 by Analysts at Evercore ISI

Chipotle Mexican Grill (NYSE:CMG) had its price target reduced by Evercore ISI from $57.00 to $53.00 in a research note released on Tuesday morning,Benzinga reports. Evercore ISI currently has an outperform rating on the restaurant operator’s stock.

Other equities analysts also recently issued reports about the company. Robert W. Baird dropped their target price on Chipotle Mexican Grill from $62.00 to $59.00 and set an “outperform” rating for the company in a research report on Thursday, July 24th. Barclays dropped their target price on Chipotle Mexican Grill from $55.00 to $53.00 and set an “equal weight” rating for the company in a research report on Thursday, July 24th. TD Cowen reiterated a “buy” rating and issued a $58.00 target price on shares of Chipotle Mexican Grill in a research report on Friday, September 19th. Rothschild & Co Redburn upgraded Chipotle Mexican Grill from a “neutral” rating to a “buy” rating and set a $55.00 target price for the company in a research report on Wednesday, September 3rd. Finally, BTIG Research reiterated a “buy” rating and issued a $57.00 target price on shares of Chipotle Mexican Grill in a research report on Friday, September 5th. 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 data from MarketBeat, Chipotle Mexican Grill presently has a consensus rating of “Moderate Buy” and an average target price of $59.28.

Chipotle Mexican Grill Stock Performance

Shares of CMG opened at $40.94 on Tuesday. Chipotle Mexican Grill has a 52-week low of $38.30 and a 52-week high of $66.74. The business’s fifty day moving average is $41.33 and its 200-day moving average is $47.83. The firm has a market cap of $54.89 billion, a price-to-earnings ratio of 36.55, a PEG ratio of 2.12 and a beta of 0.99.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings data on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. Chipotle Mexican Grill had a return on equity of 43.50% and a net margin of 13.32%.The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same quarter in the previous year, the company posted $0.34 EPS. Chipotle Mexican Grill’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, research analysts forecast that Chipotle Mexican Grill will post 1.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Chipotle Mexican Grill

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Chipotle Mexican Grill by 0.8% during the second quarter. Vanguard Group Inc. now owns 123,457,125 shares of the restaurant operator’s stock worth $6,932,118,000 after acquiring an additional 993,798 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Chipotle Mexican Grill by 7.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 56,827,332 shares of the restaurant operator’s stock worth $2,853,302,000 after acquiring an additional 4,027,016 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Chipotle Mexican Grill by 1.9% during the second quarter. Alliancebernstein L.P. now owns 33,111,508 shares of the restaurant operator’s stock worth $1,859,211,000 after acquiring an additional 606,190 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Chipotle Mexican Grill by 1.1% during the second quarter. Geode Capital Management LLC now owns 29,659,508 shares of the restaurant operator’s stock worth $1,657,193,000 after acquiring an additional 325,926 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of Chipotle Mexican Grill by 2.9% during the second quarter. American Century Companies Inc. now owns 21,257,666 shares of the restaurant operator’s stock worth $1,193,618,000 after acquiring an additional 595,038 shares during the last quarter. 91.30% of the stock is currently owned by 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.