Chipotle Mexican Grill (NYSE:CMG) Price Target Cut to $36.00 by Analysts at Gordon Haskett

Chipotle Mexican Grill (NYSE:CMG) had its price objective dropped by stock analysts at Gordon Haskett from $42.00 to $36.00 in a research report issued on Monday, October 19th. The firm currently has a “hold” rating on the restaurant operator’s stock. Gordon Haskett‘s price objective indicates a potential upside of 14.90% from the company’s previous close.

A number of other research analysts have also recently issued reports on CMG. Wells Fargo & Company reduced their price objective on shares of Chipotle Mexican Grill from $45.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, October 21st. DA Davidson increased their price target on shares of Chipotle Mexican Grill from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. BTIG Research reiterated a “buy” rating and set a $45.00 price target on shares of Chipotle Mexican Grill in a research note on Wednesday, August 5th. Argus lifted their price objective on shares of Chipotle Mexican Grill from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Finally, Guggenheim reiterated a “neutral” rating and issued a $36.00 target price (up from $35.00) on shares of Chipotle Mexican Grill in a research note on Friday, July 31st. Twenty-seven equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.47.

Chipotle Mexican Grill Stock Performance

NYSE CMG traded up $2.60 during trading hours on Monday, hitting $31.33. 42,432,740 shares of the company traded hands, compared to its average volume of 18,084,094. The stock has a market capitalization of $39.65 billion, a price-to-earnings ratio of 28.74, a P/E/G ratio of 1.67 and a beta of 0.96. Chipotle Mexican Grill has a twelve month low of $27.31 and a twelve month high of $41.42. The business’s 50-day moving average is $33.20 and its 200-day moving average is $34.21.

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

Insider Buying and Selling at Chipotle Mexican Grill

In other news, insider Matthew R. Bush sold 2,675 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $35.75, for a total value of $95,631.25. Following the transaction, the insider owned 21,415 shares of the company’s stock, valued at approximately $765,586.25. The trade was a 11.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.45% of the stock is currently owned by company insiders.

Institutional Trading of Chipotle Mexican Grill

A number of large investors have recently made changes to their positions in the business. Greenleaf Trust increased its position in shares of Chipotle Mexican Grill by 3.4% during the third quarter. Greenleaf Trust now owns 19,573 shares of the restaurant operator’s stock worth $625,000 after acquiring an additional 646 shares during the period. Nippon Life Global Investors Americas Inc. grew its holdings in Chipotle Mexican Grill by 754.6% in the third quarter. Nippon Life Global Investors Americas Inc. now owns 360,320 shares of the restaurant operator’s stock worth $11,512,000 after purchasing an additional 318,160 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Chipotle Mexican Grill in the third quarter valued at about $10,854,000. Invera Wealth Advisors LLC boosted its stake in Chipotle Mexican Grill by 10.9% in the 3rd quarter. Invera Wealth Advisors LLC now owns 36,355 shares of the restaurant operator’s stock worth $1,162,000 after purchasing an additional 3,586 shares in the last quarter. Finally, MGO One Seven LLC grew its position in Chipotle Mexican Grill by 8.7% during the 3rd quarter. MGO One Seven LLC now owns 53,760 shares of the restaurant operator’s stock worth $1,718,000 after purchasing an additional 4,296 shares during the last quarter. 91.30% of the stock is currently owned by institutional investors.

More Chipotle Mexican Grill News

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

About Chipotle Mexican Grill

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.