Royal Bank of Canada Cuts Chipotle Mexican Grill (NYSE:CMG) Price Target to $65.00

Chipotle Mexican Grill (NYSE:CMG) had its price objective decreased by Royal Bank of Canada from $70.00 to $65.00 in a research note released on Monday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the restaurant operator’s stock.

Other equities research analysts also recently issued reports about the stock. Cfra raised shares of Chipotle Mexican Grill from a “buy” rating to a “strong-buy” rating and boosted their target price for the stock from $59.00 to $73.00 in a research report on Wednesday, February 5th. Loop Capital upgraded Chipotle Mexican Grill from a “hold” rating to a “buy” rating and upped their price target for the stock from $58.00 to $65.00 in a report on Friday, March 14th. JPMorgan Chase & Co. reduced their target price on shares of Chipotle Mexican Grill from $64.00 to $58.00 and set a “neutral” rating for the company in a research note on Thursday, March 20th. Citigroup cut their price target on shares of Chipotle Mexican Grill from $70.00 to $62.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $70.00 target price on shares of Chipotle Mexican Grill in a report on Tuesday, January 28th. Eight investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $65.42.

Chipotle Mexican Grill Price Performance

Shares of CMG opened at $48.18 on Monday. The stock has a 50-day moving average of $51.27 and a 200-day moving average of $56.71. Chipotle Mexican Grill has a one year low of $44.46 and a one year high of $69.26. The company has a market cap of $65.30 billion, a PE ratio of 43.40, a P/E/G ratio of 2.04 and a beta of 1.27.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings data on Tuesday, February 4th. The restaurant operator reported $0.25 EPS for the quarter, beating the consensus estimate of $0.24 by $0.01. Chipotle Mexican Grill had a return on equity of 42.92% and a net margin of 13.56%. Analysts expect that Chipotle Mexican Grill will post 1.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Chipotle Mexican Grill

Several large investors have recently added to or reduced their stakes in CMG. Tortoise Investment Management LLC lifted its holdings in shares of Chipotle Mexican Grill by 14.0% during the 4th quarter. Tortoise Investment Management LLC now owns 1,436 shares of the restaurant operator’s stock worth $87,000 after acquiring an additional 176 shares during the last quarter. Traynor Capital Management Inc. boosted its holdings in shares of Chipotle Mexican Grill by 2.5% in the 4th quarter. Traynor Capital Management Inc. now owns 7,522 shares of the restaurant operator’s stock worth $454,000 after purchasing an additional 181 shares in the last quarter. BTC Capital Management Inc. increased its position in shares of Chipotle Mexican Grill by 1.9% during the 4th quarter. BTC Capital Management Inc. now owns 9,969 shares of the restaurant operator’s stock valued at $601,000 after purchasing an additional 184 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Chipotle Mexican Grill by 4.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 4,804 shares of the restaurant operator’s stock valued at $290,000 after buying an additional 214 shares in the last quarter. Finally, Confluence Wealth Services Inc. raised its holdings in shares of Chipotle Mexican Grill by 4.2% during the 4th quarter. Confluence Wealth Services Inc. now owns 5,391 shares of the restaurant operator’s stock valued at $310,000 after buying an additional 218 shares in the last quarter. Institutional investors own 91.31% 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.