Chipotle Mexican Grill (NYSE:CMG) Stock Price Target Cut by Raymond James Financial

Chipotle Mexican Grill (NYSE:CMG) had its target price reduced by analysts at Raymond James Financial from $42.50 to $37.00 in a research note issued on Friday, October 16th, Benzinga reports. The firm currently has an “outperform” rating on the restaurant operator’s stock. Raymond James Financial‘s price objective would indicate a potential upside of 18.09% from the stock’s current price.

A number of other equities research analysts have also commented on CMG. Weiss Ratings upgraded Chipotle Mexican Grill from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, August 7th. Stephens lowered their price target on Chipotle Mexican Grill from $40.00 to $38.00 and set an “equal weight” rating for the company in a research report on Thursday, October 15th. Evercore reissued an “outperform” rating and issued a $47.00 price objective (up from $45.00) on shares of Chipotle Mexican Grill in a research report on Thursday, July 30th. Argus increased their target price on Chipotle Mexican Grill from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Finally, Guggenheim reissued a “neutral” rating and set a $36.00 price objective (up from $35.00) on shares of Chipotle Mexican Grill in a research note on Friday, July 31st. Twenty-seven investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, Chipotle Mexican Grill currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.47.

Chipotle Mexican Grill Price Performance

Shares of Chipotle Mexican Grill stock traded up $2.60 on Friday, hitting $31.33. The company had a trading volume of 42,432,740 shares, compared to its average volume of 18,084,094. Chipotle Mexican Grill has a twelve month low of $27.31 and a twelve month high of $41.42. The stock has a 50-day moving average of $33.20 and a 200-day moving average of $34.21. The firm has a market capitalization of $39.65 billion, a P/E ratio of 28.74, a P/E/G ratio of 1.67 and a beta of 0.96.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings results on Wednesday, October 28th. The restaurant operator reported $0.27 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.02). Chipotle Mexican Grill had a net margin of 11.43% and a return on equity of 54.65%. The company had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same period last year, the company posted $0.29 earnings per share. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities analysts predict that Chipotle Mexican Grill will post 1.14 EPS for the current year.

Insider Buying and Selling at Chipotle Mexican Grill

In related news, insider Matthew R. Bush sold 2,675 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $35.75, for a total transaction of $95,631.25. Following the completion of the sale, the insider owned 21,415 shares in the company, valued at approximately $765,586.25. This trade represents a 11.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.45% of the company’s stock.

Institutional Trading of Chipotle Mexican Grill

A number of institutional investors and hedge funds have recently bought and sold shares of CMG. BlackRock Inc. bought a new position in shares of Chipotle Mexican Grill during the second quarter valued at approximately $4,417,475,000. Bank of America Corp DE bought a new stake in Chipotle Mexican Grill during the 2nd quarter valued at $383,483,000. Legal & General Group Plc purchased a new position in Chipotle Mexican Grill in the second quarter valued at about $265,887,000. Man Group plc purchased a new stake in shares of Chipotle Mexican Grill during the second quarter valued at about $240,389,000. Finally, Bank of New York Mellon Corp purchased a new position in Chipotle Mexican Grill in the second quarter worth $222,809,000. 91.30% of the stock is currently owned by institutional investors.

Key Stories Impacting Chipotle Mexican Grill

Here are the key news stories impacting Chipotle Mexican Grill this week:

• Positive Sentiment: Third-quarter revenue rose 9.6% to $3.29 billion, in line with expectations, while comparable-restaurant sales increased 2.1% and transactions grew for the third consecutive quarter. Value offers and limited-time menu items helped attract diners. Chipotle beats quarterly sales expectations on resilient demand
• Positive Sentiment: Investors responded favorably to signs of a traffic recovery following earlier food-safety concerns. New menu launches, refreshed loyalty benefits and plans to accelerate technology and menu innovation are supporting the turnaround. Chipotle Sales Beat as New Chicken, Chips Bring Diners Back
• Positive Sentiment: Chipotle opened 84 company-owned restaurants during the quarter, and its loyalty program surpassed 24 million members, providing additional long-term growth and customer-engagement potential. Chipotle: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Several analysts maintained bullish ratings, including DA Davidson and BTIG Research at $45 targets and Oppenheimer at a $51 target, implying substantial upside based on the supplied reference price. Oppenheimer analyst rating
• Neutral Sentiment: Analyst opinion remains mixed: Citigroup kept a Buy rating while cutting its target to $41, whereas BNP Paribas Exane retained Neutral and reduced its target to $36. Bernstein also lowered its target to $43 from $50. Citigroup price target
• Negative Sentiment: Adjusted earnings were $0.27 per share, below the $0.29 consensus and last year’s $0.29, as higher operating costs, beef prices and increased protein usage pressured margins. Chipotle Q3 earnings miss estimates
• Negative Sentiment: Management’s outlook calls for only modestly higher sales, leaving investors dependent on the fourth-quarter brisket launch, continued traffic gains and successful cost management to sustain the recovery. The rest of Chipotle’s year hinges on brisket

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill, Inc (NYSE: CMG) operates a chain of fast-casual restaurants focused on Mexican-inspired food. Its menu includes burritos, burrito bowls, tacos, quesadillas and salads, with options such as chicken, steak, barbacoa, carnitas, sofritas and vegetables. The company emphasizes preparing food in its restaurants from ingredients it describes as responsibly sourced, including meats raised with attention to animal welfare and produce from selected suppliers.

Founded by Steve Ells in 1993, Chipotle opened its first restaurant in Denver, Colorado.