Brokerages Set Chipotle Mexican Grill, Inc. (NYSE:CMG) Price Target at $50.23

Chipotle Mexican Grill, Inc. (NYSE:CMG) has been given an average recommendation of “Moderate Buy” by the thirty-seven brokerages that are currently covering the firm, Marketbeat reports. Thirteen investment analysts have rated the stock with a hold recommendation, twenty-two have issued a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $50.2258.

A number of equities research analysts recently weighed in on the company. Robert W. Baird decreased their price objective on Chipotle Mexican Grill from $59.00 to $49.00 and set an “outperform” rating for the company in a research note on Friday, October 10th. Raymond James Financial upped their price target on shares of Chipotle Mexican Grill from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. Northcoast Research downgraded shares of Chipotle Mexican Grill from a “buy” rating to a “neutral” rating in a research note on Friday, October 31st. Gordon Haskett lowered shares of Chipotle Mexican Grill from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 8th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Chipotle Mexican Grill in a research report on Thursday, December 18th.

Chipotle Mexican Grill Stock Down 0.6%

NYSE CMG opened at $38.85 on Friday. The company has a fifty day moving average of $37.23 and a two-hundred day moving average of $39.28. The firm has a market capitalization of $51.37 billion, a price-to-earnings ratio of 34.38, a PEG ratio of 3.52 and a beta of 0.97. Chipotle Mexican Grill has a 52 week low of $29.75 and a 52 week high of $59.19.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings results on Wednesday, October 29th. The restaurant operator reported $0.29 EPS for the quarter, meeting the consensus estimate of $0.29. The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.06 billion. Chipotle Mexican Grill had a net margin of 13.04% and a return on equity of 45.39%. The firm’s revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.27 EPS. Equities research analysts anticipate that Chipotle Mexican Grill will post 1.29 EPS for the current year.

Institutional Investors Weigh In On Chipotle Mexican Grill

A number of institutional investors and hedge funds have recently modified their holdings of CMG. Vanguard Group Inc. raised its position in Chipotle Mexican Grill by 14.8% during the 4th quarter. Vanguard Group Inc. now owns 144,588,220 shares of the restaurant operator’s stock worth $5,349,764,000 after buying an additional 18,660,882 shares during the last quarter. Capital World Investors increased its stake in shares of Chipotle Mexican Grill by 122.7% in the third quarter. Capital World Investors now owns 87,844,788 shares of the restaurant operator’s stock worth $3,442,645,000 after acquiring an additional 48,398,628 shares during the period. Capital International Investors raised its holdings in shares of Chipotle Mexican Grill by 42.4% during the third quarter. Capital International Investors now owns 38,497,927 shares of the restaurant operator’s stock worth $1,509,043,000 after purchasing an additional 11,471,658 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of Chipotle Mexican Grill by 1.9% during the second quarter. Alliancebernstein L.P. now owns 33,111,508 shares of the restaurant operator’s stock worth $1,859,211,000 after purchasing an additional 606,190 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Chipotle Mexican Grill by 1.1% during the second quarter. Geode Capital Management LLC now owns 29,659,508 shares of the restaurant operator’s stock valued at $1,657,193,000 after purchasing an additional 325,926 shares during the period. Institutional investors and hedge funds own 91.30% of the company’s stock.

About Chipotle Mexican Grill

Chipotle Mexican Grill is a fast-casual restaurant company known for its Mexican-inspired menu of burritos, bowls, tacos and salads. Founded in 1993 by Steve Ells, the chain emphasizes fresh, customizable meals made from a limited menu of core ingredients and a focus on ingredient quality. Chipotle operates primarily company-owned restaurants and offers dine-in, takeout, catering and delivery through its own digital platforms and third-party partners.

The company is headquartered in Newport Beach, California, and traces its roots to Denver, Colorado.