Guggenheim Cuts Chipotle Mexican Grill (NYSE:CMG) Price Target to $48.00

Chipotle Mexican Grill (NYSE:CMG) had its target price lowered by investment analysts at Guggenheim from $56.00 to $48.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the restaurant operator’s stock. Guggenheim’s target price indicates a potential upside of 2.44% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Morgan Stanley upgraded shares of Chipotle Mexican Grill from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $65.00 to $70.00 in a research note on Monday, March 3rd. JPMorgan Chase & Co. lowered their price objective on shares of Chipotle Mexican Grill from $64.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, March 20th. Citigroup cut their target price on shares of Chipotle Mexican Grill from $70.00 to $62.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Oppenheimer lifted their price target on shares of Chipotle Mexican Grill from $65.00 to $69.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. Finally, KeyCorp decreased their target price on Chipotle Mexican Grill from $64.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, April 15th. Eight analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Chipotle Mexican Grill has a consensus rating of “Moderate Buy” and a consensus target price of $64.60.

Chipotle Mexican Grill Stock Performance

Shares of NYSE CMG opened at $46.86 on Tuesday. The company has a market cap of $63.51 billion, a PE ratio of 42.09, a P/E/G ratio of 2.04 and a beta of 1.27. Chipotle Mexican Grill has a 52-week low of $44.46 and a 52-week high of $69.26. The firm’s 50 day moving average price is $50.70 and its 200-day moving average price is $56.50.

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, topping 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%. On average, analysts forecast 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 modified their holdings of the stock. Tortoise Investment Management LLC lifted its position in Chipotle Mexican Grill by 14.0% in the fourth quarter. Tortoise Investment Management LLC now owns 1,436 shares of the restaurant operator’s stock worth $87,000 after buying an additional 176 shares during the last quarter. Traynor Capital Management Inc. boosted its stake in shares of Chipotle Mexican Grill by 2.5% during 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 during the period. BTC Capital Management Inc. grew its holdings in 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 position in Chipotle Mexican Grill by 4.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 4,804 shares of the restaurant operator’s stock worth $290,000 after purchasing an additional 214 shares during the period. Finally, Confluence Wealth Services Inc. lifted its stake in Chipotle Mexican Grill by 4.2% in the fourth quarter. Confluence Wealth Services Inc. now owns 5,391 shares of the restaurant operator’s stock worth $310,000 after purchasing an additional 218 shares during the last quarter. 91.31% of the stock is owned by institutional investors.

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.