Royal Bank Of Canada Lowers Chipotle Mexican Grill (NYSE:CMG) Price Target to $45.00

Chipotle Mexican Grill (NYSE:CMG) had its price target dropped by Royal Bank Of Canada from $50.00 to $45.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the restaurant operator’s stock. Royal Bank Of Canada’s price target would suggest a potential upside of 26.02% from the stock’s previous close.

Several other equities research analysts have also commented on CMG. Telsey Advisory Group reduced their price objective on Chipotle Mexican Grill from $50.00 to $48.00 and set an “outperform” rating for the company in a research note on Wednesday, February 4th. Wall Street Zen upgraded Chipotle Mexican Grill from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Stifel Nicolaus restated a “buy” rating on shares of Chipotle Mexican Grill in a research note on Monday, March 9th. Raymond James Financial upped their price objective on Chipotle Mexican Grill from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 21st. Finally, Evercore restated an “outperform” rating and issued a $45.00 price objective on shares of Chipotle Mexican Grill in a research note on Friday, December 19th. Twenty-four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $47.13.

Chipotle Mexican Grill Price Performance

NYSE:CMG opened at $35.71 on Friday. The firm has a market capitalization of $46.51 billion, a price-to-earnings ratio of 31.32, a price-to-earnings-growth ratio of 2.15 and a beta of 1.06. Chipotle Mexican Grill has a one year low of $29.75 and a one year high of $58.42. The business has a fifty day moving average price of $34.97 and a 200-day moving average price of $36.35.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings data on Tuesday, February 3rd. The restaurant operator reported $0.25 EPS for the quarter, topping the consensus estimate of $0.24 by $0.01. The firm had revenue of $2.98 billion during the quarter, compared to analyst estimates of $2.96 billion. Chipotle Mexican Grill had a return on equity of 47.99% and a net margin of 12.88%.Chipotle Mexican Grill’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.25 EPS. On average, equities research analysts expect that Chipotle Mexican Grill will post 1.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Chipotle Mexican Grill

Institutional investors have recently bought and sold shares of the business. Salomon & Ludwin LLC purchased a new stake in Chipotle Mexican Grill in the 3rd quarter worth $26,000. Wealth Watch Advisors INC purchased a new stake in Chipotle Mexican Grill in the 3rd quarter worth $25,000. Financial Life Planners purchased a new stake in Chipotle Mexican Grill in the 3rd quarter worth $25,000. MV Capital Management Inc. purchased a new stake in Chipotle Mexican Grill in the 4th quarter worth $26,000. Finally, Steigerwald Gordon & Koch Inc. purchased a new position in shares of Chipotle Mexican Grill during the third quarter valued at about $29,000. Hedge funds and other institutional investors own 91.30% of the company’s stock.

About Chipotle Mexican Grill

Chipotle Mexican Grill is a fast-casual restaurant company known for its Mexican-inspired menu of burritos, bowls, tacos and salads. Founded in 1993 by Steve Ells, the chain emphasizes fresh, customizable meals made from a limited menu of core ingredients and a focus on ingredient quality. Chipotle operates primarily company-owned restaurants and offers dine-in, takeout, catering and delivery through its own digital platforms and third-party partners.

The company is headquartered in Newport Beach, California, and traces its roots to Denver, Colorado.