Chipotle Mexican Grill (NYSE:CMG) Price Target Cut to $67.00

Chipotle Mexican Grill (NYSE:CMG) had its price objective cut by equities research analysts at The Goldman Sachs Group from $74.60 to $67.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the restaurant operator’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 33.12% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Wells Fargo & Company increased their price objective on shares of Chipotle Mexican Grill from $65.70 to $66.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Morgan Stanley raised their target price on shares of Chipotle Mexican Grill from $59.72 to $62.00 and gave the company an “equal weight” rating in a report on Thursday, April 25th. Stephens dropped their price objective on shares of Chipotle Mexican Grill from $64.00 to $61.00 and set an “equal weight” rating for the company in a research note on Thursday. Stifel Nicolaus dropped their price objective on shares of Chipotle Mexican Grill from $3,270.00 to $70.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Finally, StockNews.com lowered shares of Chipotle Mexican Grill from a “buy” rating to a “hold” rating in a research note on Thursday, July 4th. Ten investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $63.97.

Chipotle Mexican Grill Trading Down 2.8 %

NYSE CMG traded down $1.45 on Thursday, reaching $50.33. 21,493,074 shares of the stock were exchanged, compared to its average volume of 14,107,564. Chipotle Mexican Grill has a one year low of $35.37 and a one year high of $69.26. The firm has a market capitalization of $69.12 billion, a PE ratio of 53.70, a PEG ratio of 2.10 and a beta of 1.24. The company’s 50-day simple moving average is $125.89 and its two-hundred day simple moving average is $79.68.

Chipotle Mexican Grill (NYSE:CMG) last released its earnings results on Wednesday, July 24th. The restaurant operator reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. Chipotle Mexican Grill had a net margin of 12.70% and a return on equity of 43.74%. The company had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter last year, the business earned $12.65 EPS. The firm’s revenue was up 18.2% compared to the same quarter last year. Sell-side analysts forecast that Chipotle Mexican Grill will post 1.1 earnings per share for the current fiscal year.

Insider Activity at Chipotle Mexican Grill

In related news, insider Roger E. Theodoredis sold 125,450 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $63.29, for a total value of $7,939,579.96. Following the sale, the insider now owns 54,250 shares in the company, valued at $3,433,417.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Roger E. Theodoredis sold 125,450 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $63.29, for a total value of $7,939,579.96. Following the sale, the insider now owns 54,250 shares in the company, valued at $3,433,417.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Scott Boatwright sold 55,000 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $63.80, for a total value of $3,509,176.00. Following the completion of the sale, the chief operating officer now owns 120,600 shares in the company, valued at approximately $7,694,665.92. The disclosure for this sale can be found here. Insiders have sold a total of 550,750 shares of company stock worth $35,023,769 over the last quarter. Insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Chipotle Mexican Grill in the second quarter valued at approximately $25,000. Riverview Trust Co raised its stake in shares of Chipotle Mexican Grill by 4,900.0% during the 2nd quarter. Riverview Trust Co now owns 400 shares of the restaurant operator’s stock worth $25,000 after buying an additional 392 shares during the period. Steph & Co. acquired a new position in shares of Chipotle Mexican Grill during the 1st quarter worth approximately $29,000. M&R Capital Management Inc. raised its stake in shares of Chipotle Mexican Grill by 4,900.0% during the 2nd quarter. M&R Capital Management Inc. now owns 500 shares of the restaurant operator’s stock worth $31,000 after buying an additional 490 shares during the period. Finally, Versant Capital Management Inc raised its stake in shares of Chipotle Mexican Grill by 9,900.0% during the 2nd quarter. Versant Capital Management Inc now owns 500 shares of the restaurant operator’s stock worth $31,000 after buying an additional 495 shares during the period. 91.31% of the stock is owned by institutional investors and hedge funds.

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.