Morgan Stanley Cuts Chipotle Mexican Grill (NYSE:CMG) Price Target to $59.00

Chipotle Mexican Grill (NYSE:CMG) had its target price cut by Morgan Stanley from $65.00 to $59.00 in a report released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the restaurant operator’s stock.

Several other research firms have also recently weighed in on CMG. Evercore ISI cut their price objective on Chipotle Mexican Grill from $57.00 to $53.00 and set an “outperform” rating on the stock in a report on Tuesday, October 7th. Wells Fargo & Company dropped their target price on shares of Chipotle Mexican Grill from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Thursday, July 24th. BTIG Research reiterated a “buy” rating and issued a $57.00 price target on shares of Chipotle Mexican Grill in a report on Friday, September 5th. Stifel Nicolaus dropped their price objective on shares of Chipotle Mexican Grill from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, September 9th. Finally, BMO Capital Markets raised shares of Chipotle Mexican Grill from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $56.00 to $65.00 in a research report on Friday, July 18th. Two investment 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, Chipotle Mexican Grill has an average rating of “Moderate Buy” and an average target price of $57.55.

Chipotle Mexican Grill Stock Performance

CMG opened at $41.93 on Wednesday. The firm’s fifty day moving average is $41.11 and its two-hundred day moving average is $47.35. The firm has a market cap of $56.22 billion, a PE ratio of 37.43, a price-to-earnings-growth ratio of 2.52 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.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings data on Wednesday, July 23rd. The restaurant operator reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The business had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.11 billion. Chipotle Mexican Grill had a net margin of 13.32% and a return on equity of 43.50%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.34 EPS. Equities analysts forecast that Chipotle Mexican Grill will post 1.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Chipotle Mexican Grill

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cloud Capital Management LLC bought a new position in shares of Chipotle Mexican Grill in the 1st quarter valued at about $25,000. Operose Advisors LLC acquired a new position in Chipotle Mexican Grill during the second quarter valued at approximately $25,000. Saudi Central Bank bought a new position in Chipotle Mexican Grill in the first quarter valued at approximately $27,000. 1248 Management LLC acquired a new position in shares of Chipotle Mexican Grill during the 1st quarter worth approximately $27,000. Finally, Signature Resources Capital Management LLC bought a new stake in shares of Chipotle Mexican Grill during the 2nd quarter worth approximately $28,000. 91.30% of the stock is currently owned by institutional investors and hedge funds.

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.