Citigroup Lowers Chipotle Mexican Grill (NYSE:CMG) Price Target to $62.00

Chipotle Mexican Grill (NYSE:CMG) had its target price dropped by investment analysts at Citigroup from $70.00 to $62.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the restaurant operator’s stock. Citigroup’s price target points to a potential upside of 18.59% from the company’s previous close.

CMG has been the topic of a number of other research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $75.00 price objective on shares of Chipotle Mexican Grill in a research report on Tuesday, January 28th. Loop Capital raised shares of Chipotle Mexican Grill from a “hold” rating to a “buy” rating and boosted their price target for the stock from $58.00 to $65.00 in a research report on Friday, March 14th. Evercore ISI raised their price objective on Chipotle Mexican Grill from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, December 5th. Raymond James dropped their target price on Chipotle Mexican Grill from $72.00 to $69.00 and set an “outperform” rating on the stock in a report on Tuesday, January 28th. Finally, Stifel Nicolaus reduced their price target on Chipotle Mexican Grill from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, March 19th. Eight research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $66.38.

Chipotle Mexican Grill Price Performance

CMG stock traded up $0.61 during trading hours on Wednesday, reaching $52.28. 4,544,835 shares of the stock were exchanged, compared to its average volume of 12,149,362. The firm’s 50-day moving average is $53.58 and its 200-day moving average is $57.50. Chipotle Mexican Grill has a 12 month low of $47.55 and a 12 month high of $69.26. The company has a market cap of $70.86 billion, a price-to-earnings ratio of 47.09, a PEG ratio of 2.04 and a beta of 1.27.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings data on Tuesday, February 4th. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. Chipotle Mexican Grill had a return on equity of 42.92% and a net margin of 13.56%. As a group, equities research analysts forecast that Chipotle Mexican Grill will post 1.29 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Ethos Financial Group LLC acquired a new position in Chipotle Mexican Grill in the 4th quarter valued at approximately $31,000. Sound Income Strategies LLC grew its stake in shares of Chipotle Mexican Grill by 1,110.0% in the fourth quarter. Sound Income Strategies LLC now owns 605 shares of the restaurant operator’s stock worth $36,000 after purchasing an additional 555 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new stake in Chipotle Mexican Grill in the fourth quarter valued at $38,000. Financial Life Planners bought a new position in Chipotle Mexican Grill during the 4th quarter worth $45,000. Finally, Mascagni Wealth Management Inc. acquired a new position in Chipotle Mexican Grill during the 4th quarter worth about $45,000. Institutional investors and hedge funds own 91.31% of the company’s stock.

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.