Evercore ISI Has Lowered Expectations for Chipotle Mexican Grill (NYSE:CMG) Stock Price

Chipotle Mexican Grill (NYSE:CMG) had its price target decreased by analysts at Evercore ISI from $53.00 to $45.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the restaurant operator’s stock. Evercore ISI’s price target would suggest a potential upside of 42.08% from the stock’s previous close.

CMG has been the topic of several other research reports. Melius assumed coverage on Chipotle Mexican Grill in a research report on Monday, July 14th. They set a “hold” rating and a $60.00 target price on the stock. Guggenheim cut their target price on Chipotle Mexican Grill from $47.00 to $46.00 and set a “neutral” rating on the stock in a research report on Friday, July 25th. Rothschild & Co Redburn raised Chipotle Mexican Grill from a “neutral” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Wednesday, September 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Chipotle Mexican Grill in a research report on Wednesday, October 8th. Finally, Mizuho set a $34.00 target price on Chipotle Mexican Grill in a research report on Thursday. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.81.

Chipotle Mexican Grill Price Performance

CMG stock opened at $31.67 on Thursday. The firm has a market capitalization of $42.47 billion, a P/E ratio of 28.03, a P/E/G ratio of 2.65 and a beta of 0.99. The business’s 50-day moving average is $40.37 and its two-hundred day moving average is $46.67. Chipotle Mexican Grill has a 1 year low of $31.01 and a 1 year high of $66.74.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Wednesday, October 29th. The restaurant operator reported $0.29 earnings per share for the quarter, hitting the consensus estimate of $0.29. Chipotle Mexican Grill had a return on equity of 44.32% and a net margin of 13.04%.The business had revenue of $3 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same quarter last year, the company earned $0.27 EPS. The business’s quarterly revenue was up 7.5% on a year-over-year basis. On average, analysts expect that Chipotle Mexican Grill will post 1.29 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Operose Advisors LLC purchased a new position in Chipotle Mexican Grill during the 2nd quarter worth approximately $25,000. Signature Resources Capital Management LLC purchased a new position in shares of Chipotle Mexican Grill in the 2nd quarter valued at approximately $28,000. Lavaca Capital LLC purchased a new position in shares of Chipotle Mexican Grill in the 2nd quarter valued at approximately $28,000. Cloud Capital Management LLC purchased a new position in shares of Chipotle Mexican Grill in the 1st quarter valued at approximately $25,000. Finally, Activest Wealth Management grew its stake in shares of Chipotle Mexican Grill by 109.3% in the 2nd quarter. Activest Wealth Management now owns 517 shares of the restaurant operator’s stock valued at $29,000 after purchasing an additional 270 shares during the last quarter. Hedge funds and other institutional investors own 91.30% of the company’s stock.

About Chipotle Mexican Grill

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.