Wells Fargo & Company Has Lowered Expectations for Chipotle Mexican Grill (NYSE:CMG) Stock Price

Chipotle Mexican Grill (NYSE:CMG) had its target price cut by Wells Fargo & Company from $60.00 to $55.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the restaurant operator’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 31.18% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Truist Financial cut their price target on shares of Chipotle Mexican Grill from $60.00 to $53.00 and set a “buy” rating on the stock in a report on Tuesday. UBS Group raised their target price on Chipotle Mexican Grill from $60.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, July 17th. Stephens reiterated an “equal weight” rating and set a $60.00 price target on shares of Chipotle Mexican Grill in a research note on Monday, September 29th. Rothschild & Co Redburn raised Chipotle Mexican Grill from a “neutral” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Wednesday, September 3rd. Finally, Raymond James Financial reduced their target price on Chipotle Mexican Grill from $60.00 to $56.00 and set an “outperform” rating for the company in a report on Friday, August 15th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.55.

Chipotle Mexican Grill Price Performance

CMG opened at $41.93 on Thursday. The company has a market capitalization 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 fifty-two week low of $38.30 and a fifty-two week high of $66.74. The business has a 50-day moving average of $41.11 and a 200-day moving average of $47.35.

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, topping analysts’ consensus estimates of $0.32 by $0.01. The firm had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.11 billion. Chipotle Mexican Grill had a return on equity of 43.50% and a net margin of 13.32%.The firm’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.34 earnings per share. On average, equities research analysts expect that Chipotle Mexican Grill will post 1.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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

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.