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

Chipotle Mexican Grill (NYSE:CMG) had its price target lowered by equities research analysts at Barclays from $53.00 to $43.00 in a note issued to investors on Wednesday, Marketbeat reports. The firm currently has an “equal weight” rating on the restaurant operator’s stock. Barclays‘s price objective indicates a potential upside of 2.84% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Citigroup cut their price objective on shares of Chipotle Mexican Grill from $68.00 to $62.00 and set a “buy” rating for the company in a report on Thursday, July 24th. UBS Group restated a “buy” rating and set a $56.00 target price (down from $65.00) on shares of Chipotle Mexican Grill in a research report on Monday. Weiss Ratings restated a “hold (c)” rating on shares of Chipotle Mexican Grill in a research note on Wednesday, October 8th. KeyCorp lowered their price target on Chipotle Mexican Grill from $58.00 to $52.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, TD Cowen reissued a “buy” rating and issued a $58.00 price objective on shares of Chipotle Mexican Grill in a report on Friday, September 19th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.69.

Chipotle Mexican Grill Trading Up 0.5%

Shares of NYSE:CMG opened at $41.81 on Wednesday. Chipotle Mexican Grill has a 12-month low of $38.30 and a 12-month high of $66.74. The business has a 50 day moving average of $41.04 and a two-hundred day moving average of $47.15. The company has a market capitalization of $56.07 billion, a PE ratio of 37.33, a PEG ratio of 2.52 and a beta of 0.99.

Chipotle Mexican Grill (NYSE:CMG) last posted its earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.01. Chipotle Mexican Grill had a net margin of 13.32% and a return on equity of 43.50%. The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.11 billion. During the same period in the previous year, the firm earned $0.34 EPS. The business’s quarterly revenue was up 3.0% on a year-over-year basis. Equities research analysts predict that Chipotle Mexican Grill will post 1.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CMG. Norges Bank acquired a new stake in Chipotle Mexican Grill during the 2nd quarter worth $1,001,668,000. Nuveen LLC acquired a new stake in shares of Chipotle Mexican Grill in the first quarter valued at about $535,023,000. Sustainable Growth Advisers LP purchased a new position in shares of Chipotle Mexican Grill in the second quarter worth about $597,031,000. Goldman Sachs Group Inc. boosted its position in Chipotle Mexican Grill by 98.1% during the first quarter. Goldman Sachs Group Inc. now owns 9,900,521 shares of the restaurant operator’s stock worth $497,105,000 after acquiring an additional 4,903,969 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. boosted its position in Chipotle Mexican Grill by 5,319.7% during the first quarter. Montrusco Bolton Investments Inc. now owns 4,848,990 shares of the restaurant operator’s stock worth $235,580,000 after acquiring an additional 4,759,520 shares during the last quarter. 91.30% of the stock is owned by institutional investors and hedge funds.

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.