Truist Financial Cuts Chipotle Mexican Grill (NYSE:CMG) Price Target to $45.00

Chipotle Mexican Grill (NYSE:CMG) had its target price decreased by Truist Financial from $53.00 to $45.00 in a research report report published on Thursday,Benzinga reports. Truist Financial currently has a buy rating on the restaurant operator’s stock.

A number of other research analysts have also weighed in on CMG. Raymond James Financial reissued an “outperform” rating and issued a $40.00 target price (down from $52.00) on shares of Chipotle Mexican Grill in a report on Thursday. Robert W. Baird dropped their price objective on shares of 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. Piper Sandler raised shares of Chipotle Mexican Grill from a “neutral” rating to an “overweight” rating and dropped their price objective for the stock from $53.00 to $50.00 in a research note on Tuesday, August 12th. UBS Group reaffirmed a “buy” rating and set a $56.00 price objective (down from $65.00) on shares of Chipotle Mexican Grill in a research note on Monday, October 20th. Finally, Sanford C. Bernstein dropped their price objective on shares of Chipotle Mexican Grill from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Thursday, October 2nd. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $49.81.

Chipotle Mexican Grill Stock Performance

CMG stock opened at $31.67 on Thursday. The firm has a fifty day moving average price of $40.37 and a 200 day moving average price of $46.65. Chipotle Mexican Grill has a fifty-two week low of $31.01 and a fifty-two week high of $66.74. The firm has a market cap of $42.47 billion, a PE ratio of 28.03, a price-to-earnings-growth ratio of 2.65 and a beta of 0.99.

Chipotle Mexican Grill (NYSE:CMG) last posted its earnings results on Wednesday, October 29th. The restaurant operator reported $0.29 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.29. Chipotle Mexican Grill had a net margin of 13.04% and a return on equity of 44.32%. The firm had revenue of $3 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same period last year, the firm posted $0.27 earnings per share. Chipotle Mexican Grill’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, equities analysts predict that Chipotle Mexican Grill will post 1.29 EPS for the current year.

Institutional Trading of Chipotle Mexican Grill

Several institutional investors and hedge funds have recently made changes to their positions in CMG. Cloud Capital Management LLC bought a new stake in shares of Chipotle Mexican Grill during the first quarter worth $25,000. Operose Advisors LLC bought a new stake in shares of Chipotle Mexican Grill during the second quarter worth $25,000. Salomon & Ludwin LLC bought a new stake in shares of Chipotle Mexican Grill during the third quarter worth $26,000. Saudi Central Bank bought a new stake in shares of Chipotle Mexican Grill during the first quarter worth $27,000. Finally, 1248 Management LLC bought a new stake in shares of Chipotle Mexican Grill during the first quarter worth $27,000. 91.30% of the stock is currently owned by institutional investors.

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.