Barclays Has Lowered Expectations for Chipotle Mexican Grill (NYSE:CMG) Stock Price

Chipotle Mexican Grill (NYSE:CMG) had its price objective reduced by equities researchers at Barclays from $43.00 to $38.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the restaurant operator’s stock. Barclays‘s price objective suggests a potential upside of 19.98% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Raymond James Financial reissued an “outperform” rating and issued a $40.00 target price (down previously from $52.00) on shares of Chipotle Mexican Grill in a report on Thursday. Citigroup dropped their target price on shares of Chipotle Mexican Grill from $68.00 to $62.00 and set a “buy” rating for the company in a report on Thursday, July 24th. Melius initiated coverage on shares of Chipotle Mexican Grill in a report on Monday, July 14th. They issued a “hold” rating and a $60.00 target price for the company. BTIG Research dropped their target price on shares of Chipotle Mexican Grill from $57.00 to $45.00 and set a “buy” rating for the company in a report on Thursday. Finally, Piper Sandler raised shares of Chipotle Mexican Grill from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $53.00 to $50.00 in a report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $49.81.

Chipotle Mexican Grill Stock Performance

Shares of CMG stock opened at $31.67 on Thursday. The stock’s fifty day moving average price is $40.37 and its two-hundred day moving average price is $46.67. The company has a market cap of $42.47 billion, a PE ratio of 28.03, a P/E/G ratio of 2.65 and a beta of 0.99. Chipotle Mexican Grill has a fifty-two week low of $31.01 and a fifty-two week high of $66.74.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Wednesday, October 29th. The restaurant operator reported $0.29 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.29. The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.06 billion. Chipotle Mexican Grill had a return on equity of 44.32% and a net margin of 13.04%.The company’s revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.27 EPS. On average, equities analysts predict that Chipotle Mexican Grill will post 1.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Ascent Group LLC increased its position in Chipotle Mexican Grill by 3.5% during the 2nd quarter. Ascent Group LLC now owns 5,752 shares of the restaurant operator’s stock valued at $323,000 after purchasing an additional 193 shares during the period. E. Ohman J or Asset Management AB increased its position in Chipotle Mexican Grill by 0.3% in the 2nd quarter. E. Ohman J or Asset Management AB now owns 59,234 shares of the restaurant operator’s stock valued at $3,326,000 after buying an additional 194 shares in the last quarter. Occidental Asset Management LLC grew its position in Chipotle Mexican Grill by 2.8% in the 2nd quarter. Occidental Asset Management LLC now owns 7,257 shares of the restaurant operator’s stock valued at $407,000 after purchasing an additional 195 shares during the period. Perennial Advisors LLC grew its position in Chipotle Mexican Grill by 3.1% in the 2nd quarter. Perennial Advisors LLC now owns 6,667 shares of the restaurant operator’s stock valued at $374,000 after purchasing an additional 200 shares during the period. Finally, Quent Capital LLC grew its position in Chipotle Mexican Grill by 2.0% in the 2nd quarter. Quent Capital LLC now owns 10,555 shares of the restaurant operator’s stock valued at $593,000 after purchasing an additional 208 shares during the period. 91.30% of the stock is 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.