JPMorgan Chase & Co. Cuts Chipotle Mexican Grill (NYSE:CMG) Price Target to $37.00

Chipotle Mexican Grill (NYSE:CMG) had its price objective trimmed by JPMorgan Chase & Co. from $40.00 to $37.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an overweight rating on the restaurant operator’s stock.

A number of other brokerages also recently weighed in on CMG. Sanford C. Bernstein reiterated an “outperform” rating on shares of Chipotle Mexican Grill in a report on Friday, July 31st. Morgan Stanley boosted their price objective on Chipotle Mexican Grill from $37.00 to $39.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Weiss Ratings raised Chipotle Mexican Grill from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, August 7th. Citigroup cut their target price on Chipotle Mexican Grill from $46.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, July 13th. Finally, DA Davidson raised their target price on Chipotle Mexican Grill from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Twenty-three equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Chipotle Mexican Grill presently has an average rating of “Moderate Buy” and a consensus target price of $43.91.

Chipotle Mexican Grill Stock Performance

Chipotle Mexican Grill stock opened at $32.31 on Tuesday. The firm has a market cap of $40.89 billion, a price-to-earnings ratio of 29.64, a PEG ratio of 1.96 and a beta of 0.96. Chipotle Mexican Grill has a 52-week low of $28.03 and a 52-week high of $42.81. The firm has a 50 day moving average price of $34.77 and a two-hundred day moving average price of $33.62.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings data on Wednesday, July 29th. The restaurant operator reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. Chipotle Mexican Grill had a net margin of 11.43% and a return on equity of 54.65%. The company had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same period in the prior year, the firm posted $0.33 EPS. The company’s quarterly revenue was up 9.3% on a year-over-year basis. As a group, equities research analysts predict that Chipotle Mexican Grill will post 1.14 EPS for the current fiscal year.

Insider Buying and Selling at Chipotle Mexican Grill

In other news, insider Matthew R. Bush sold 2,675 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $35.75, for a total transaction of $95,631.25. Following the transaction, the insider owned 21,415 shares of the company’s stock, valued at $765,586.25. This represents a 11.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.45% of the company’s stock.

Institutional Trading of Chipotle Mexican Grill

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MV Capital Management Inc. acquired a new stake in Chipotle Mexican Grill in the fourth quarter valued at approximately $26,000. Osbon Capital Management LLC bought a new stake in shares of Chipotle Mexican Grill during the fourth quarter valued at approximately $28,000. Meeder Asset Management Inc. bought a new stake in shares of Chipotle Mexican Grill during the second quarter valued at approximately $27,000. Kelleher Financial Advisors acquired a new position in shares of Chipotle Mexican Grill during the second quarter worth approximately $28,000. Finally, Merkkuri Wealth Advisors LLC acquired a new position in shares of Chipotle Mexican Grill during the first quarter worth approximately $28,000. 91.30% of the stock is owned by institutional investors.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc is a fast-casual restaurant company that specializes in Mexican-inspired food made with a limited number of core ingredients. Its menu includes burritos, burrito bowls, tacos, quesadillas, salads and sides, with options such as chicken, steak, barbacoa, carnitas, sofritas and vegetables. The company also offers beverages, including soft drinks and other drinks, and allows customers to customize meals.

Founded by Steve Ells in 1993, Chipotle operates company-owned restaurants under the Chipotle Mexican Grill brand.