Chipotle Mexican Grill (NYSE:CMG) Given New $52.00 Price Target at KeyCorp

Chipotle Mexican Grill (NYSE:CMG) had its price objective decreased by KeyCorp from $58.00 to $52.00 in a report issued on Monday,Benzinga reports. KeyCorp currently has an overweight rating on the restaurant operator’s stock.

Several other equities research analysts have also recently issued reports on the company. Citigroup cut their price target on Chipotle Mexican Grill from $68.00 to $62.00 and set a “buy” rating for the company in a research note on Thursday, July 24th. Barclays decreased their target price on shares of Chipotle Mexican Grill from $55.00 to $53.00 and set an “equal weight” rating on the stock in a report on Thursday, July 24th. Truist Financial decreased their target price 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, October 14th. Stifel Nicolaus decreased their target price 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, Sanford C. Bernstein decreased their target price on shares of Chipotle Mexican Grill from $65.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday, October 2nd. Two investment 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 MarketBeat, Chipotle Mexican Grill currently has an average rating of “Moderate Buy” and an average price target of $57.03.

Chipotle Mexican Grill Trading Down 0.5%

Shares of CMG stock opened at $41.64 on Monday. The stock has a market cap of $55.84 billion, a P/E ratio of 37.18, a price-to-earnings-growth ratio of 2.53 and a beta of 0.99. The stock has a 50 day simple moving average of $41.11 and a 200 day simple moving average of $47.25. Chipotle Mexican Grill has a 1 year low of $38.30 and a 1 year high of $66.74.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 43.50% and a net margin of 13.32%.The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.34 earnings per share. Analysts forecast that Chipotle Mexican Grill will post 1.29 EPS for the current year.

Institutional Investors Weigh In On Chipotle Mexican Grill

A number of hedge funds have recently made changes to their positions in the stock. Balance Wealth LLC acquired a new stake in shares of Chipotle Mexican Grill in the 3rd quarter valued at approximately $251,000. Accurate Wealth Management LLC acquired a new stake in shares of Chipotle Mexican Grill in the 3rd quarter valued at approximately $1,621,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Chipotle Mexican Grill by 34.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 283,407 shares of the restaurant operator’s stock valued at $11,044,000 after purchasing an additional 72,167 shares in the last quarter. Stonebridge Financial Group LLC boosted its stake in shares of Chipotle Mexican Grill by 6.6% in the 3rd quarter. Stonebridge Financial Group LLC now owns 5,528 shares of the restaurant operator’s stock valued at $217,000 after purchasing an additional 343 shares in the last quarter. Finally, Aljian Capital Management LLC boosted its position in Chipotle Mexican Grill by 3.4% during the 3rd quarter. Aljian Capital Management LLC now owns 12,085 shares of the restaurant operator’s stock worth $474,000 after buying an additional 400 shares during the period. 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.