Chipotle Mexican Grill (NYSE:CMG) Price Target Cut to $61.00 by Analysts at Truist Financial

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) had its target price decreased by analysts at Truist Financial from $74.00 to $61.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the restaurant operator's stock. Truist Financial's target price would indicate a potential upside of 29.02% from the company's previous close.

A number of other analysts have also issued reports on the stock. Stifel Nicolaus dropped their price objective on shares of Chipotle Mexican Grill from $68.00 to $65.00 and set a "buy" rating on the stock in a research note on Wednesday, March 19th. Citigroup reduced their price target on Chipotle Mexican Grill from $70.00 to $62.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. KeyCorp reduced their target price on Chipotle Mexican Grill from $64.00 to $60.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Robert W. Baird dropped their price target on shares of Chipotle Mexican Grill from $68.00 to $62.00 and set an "outperform" rating for the company in a research note on Monday, April 7th. Finally, Royal Bank of Canada reduced their price objective on shares of Chipotle Mexican Grill from $70.00 to $65.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Eight investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Chipotle Mexican Grill has an average rating of "Moderate Buy" and a consensus target price of $64.13.

Chipotle Mexican Grill Stock Up 1.6 %

Shares of NYSE CMG traded up $0.75 during midday trading on Tuesday, hitting $47.28. The stock had a trading volume of 5,660,630 shares, compared to its average volume of 13,387,449. The company has a fifty day moving average price of $50.70 and a 200 day moving average price of $56.50. The company has a market capitalization of $64.08 billion, a price-to-earnings ratio of 42.57, a PEG ratio of 2.04 and a beta of 1.27. Chipotle Mexican Grill has a 1-year low of $44.46 and a 1-year high of $69.26.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.01. Chipotle Mexican Grill had a net margin of 13.56% and a return on equity of 42.92%. On average, research analysts forecast that Chipotle Mexican Grill will post 1.29 EPS for the current year.

Hedge Funds Weigh In On Chipotle Mexican Grill

Several hedge funds have recently made changes to their positions in CMG. Golden State Wealth Management LLC bought a new position in shares of Chipotle Mexican Grill in the fourth quarter valued at $371,000. Raymond James Financial Inc. acquired a new position in shares of Chipotle Mexican Grill in the 4th quarter valued at $315,220,000. U.S. Capital Wealth Advisors LLC increased its stake in Chipotle Mexican Grill by 155.1% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 14,918 shares of the restaurant operator's stock worth $900,000 after purchasing an additional 9,070 shares in the last quarter. Woodard & Co. Asset Management Group Inc. ADV purchased a new stake in Chipotle Mexican Grill during the fourth quarter valued at about $715,000. Finally, Vinva Investment Management Ltd boosted its holdings in shares of Chipotle Mexican Grill by 50.6% in the fourth quarter. Vinva Investment Management Ltd now owns 65,069 shares of the restaurant operator's stock worth $3,910,000 after buying an additional 21,864 shares during the period. Institutional investors and hedge funds own 91.31% 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.