Truist Financial Cuts Chipotle Mexican Grill (NYSE:CMG) Price Target to $53.00

Chipotle Mexican Grill (NYSE:CMG) had its price objective decreased by Truist Financial from $60.00 to $53.00 in a report issued on Tuesday morning,Benzinga reports. Truist Financial currently has a buy rating on the restaurant operator’s stock.

Several other research firms also recently commented on CMG. Citigroup decreased their price objective on Chipotle Mexican Grill from $68.00 to $62.00 and set a “buy” rating on the stock in a report on Thursday, July 24th. Wells Fargo & Company decreased their price objective on Chipotle Mexican Grill from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Thursday, July 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Chipotle Mexican Grill in a report on Wednesday, October 8th. Stephens reiterated an “equal weight” rating and issued a $60.00 price objective on shares of Chipotle Mexican Grill in a report on Monday, September 29th. Finally, Rothschild & Co Redburn upgraded Chipotle Mexican Grill from a “neutral” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Wednesday, September 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $57.55.

Chipotle Mexican Grill Stock Down 0.1%

NYSE CMG opened at $41.73 on Tuesday. The stock’s 50-day simple moving average is $41.10 and its two-hundred day simple moving average is $47.41. Chipotle Mexican Grill has a twelve month low of $38.30 and a twelve month high of $66.74. The company has a market capitalization of $55.96 billion, a price-to-earnings ratio of 37.26, a PEG ratio of 2.52 and a beta of 0.99.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CMG. Cloud Capital Management LLC purchased a new position in Chipotle Mexican Grill during the 1st quarter valued at about $25,000. Operose Advisors LLC bought a new stake in Chipotle Mexican Grill during the 2nd quarter valued at approximately $25,000. Saudi Central Bank bought a new stake in Chipotle Mexican Grill during the 1st quarter valued at approximately $27,000. 1248 Management LLC bought a new stake in Chipotle Mexican Grill during the 1st quarter valued at approximately $27,000. Finally, Signature Resources Capital Management LLC bought a new stake in Chipotle Mexican Grill during the 2nd quarter valued at approximately $28,000. 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.