Morgan Stanley Cuts Chipotle Mexican Grill (NYSE:CMG) Price Target to $50.00

Chipotle Mexican Grill (NYSE:CMG) had its target price lowered by Morgan Stanley from $59.00 to $50.00 in a report released on Thursday,Benzinga reports. The firm currently has an overweight rating on the restaurant operator’s stock.

Several other research analysts have also recently commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Chipotle Mexican Grill in a research report on Wednesday, October 8th. Rothschild Redb upgraded shares of Chipotle Mexican Grill from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 3rd. Truist Financial decreased their target price on shares of Chipotle Mexican Grill from $53.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday. Melius initiated coverage on shares of Chipotle Mexican Grill in a research report on Monday, July 14th. They issued a “hold” rating and a $60.00 target price for the company. Finally, KeyCorp decreased their target price on shares of Chipotle Mexican Grill from $52.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $49.81.

Chipotle Mexican Grill Stock Down 2.6%

CMG opened at $31.67 on Thursday. The firm has a market cap of $42.47 billion, a price-to-earnings ratio of 28.03, a price-to-earnings-growth 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. The company’s 50-day moving average price is $40.37 and its 200 day moving average price is $46.65.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings data on Wednesday, October 29th. The restaurant operator reported $0.29 earnings per share for the quarter, hitting the consensus estimate of $0.29. Chipotle Mexican Grill had a net margin of 13.04% and a return on equity of 44.32%. The firm had revenue of $3 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same quarter in the prior year, the business earned $0.27 earnings per share. Chipotle Mexican Grill’s quarterly revenue was up 7.5% on a year-over-year basis. Research analysts anticipate that Chipotle Mexican Grill will post 1.29 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Ascent Group LLC grew its position in Chipotle Mexican Grill by 3.5% in the second quarter. Ascent Group LLC now owns 5,752 shares of the restaurant operator’s stock worth $323,000 after buying an additional 193 shares during the last quarter. E. Ohman J or Asset Management AB grew its position in Chipotle Mexican Grill by 0.3% in the second quarter. E. Ohman J or Asset Management AB now owns 59,234 shares of the restaurant operator’s stock worth $3,326,000 after buying an additional 194 shares during the last quarter. Occidental Asset Management LLC grew its position in Chipotle Mexican Grill by 2.8% in the second quarter. Occidental Asset Management LLC now owns 7,257 shares of the restaurant operator’s stock worth $407,000 after buying an additional 195 shares during the last quarter. Perennial Advisors LLC grew its position in Chipotle Mexican Grill by 3.1% in the second quarter. Perennial Advisors LLC now owns 6,667 shares of the restaurant operator’s stock worth $374,000 after buying an additional 200 shares during the last quarter. Finally, Quent Capital LLC grew its position in Chipotle Mexican Grill by 2.0% in the second quarter. Quent Capital LLC now owns 10,555 shares of the restaurant operator’s stock worth $593,000 after buying an additional 208 shares during the last quarter. Institutional investors and hedge funds own 91.30% of the company’s stock.

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.