Chipotle Mexican Grill (NYSE:CMG) Price Target Lowered to $60.00 at Royal Bank of Canada

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) had its target price lowered by research analysts at Royal Bank of Canada from $65.00 to $60.00 in a report issued on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the restaurant operator's stock. Royal Bank of Canada's price target would suggest a potential upside of 15.54% from the company's previous close.

Several other research firms have also commented on CMG. Piper Sandler reduced their price target on Chipotle Mexican Grill from $59.00 to $52.00 and set a "neutral" rating on the stock in a research report on Thursday. Evercore ISI lowered their price target on shares of Chipotle Mexican Grill from $64.00 to $57.00 and set an "outperform" rating for the company in a report on Thursday. Citigroup cut their price objective on shares of Chipotle Mexican Grill from $70.00 to $62.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Barclays lowered their target price on Chipotle Mexican Grill from $60.00 to $56.00 and set an "equal weight" rating for the company in a research note on Tuesday. Finally, Wedbush cut their price target on Chipotle Mexican Grill from $69.00 to $64.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 5th. 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 company's stock. According to MarketBeat, Chipotle Mexican Grill has a consensus rating of "Moderate Buy" and a consensus price target of $61.78.

Chipotle Mexican Grill Price Performance

NYSE CMG traded up $2.39 during mid-day trading on Thursday, hitting $51.93. The company's stock had a trading volume of 26,657,351 shares, compared to its average volume of 13,482,577. The firm has a market capitalization of $70.38 billion, a P/E ratio of 46.78, a price-to-earnings-growth ratio of 2.04 and a beta of 1.27. Chipotle Mexican Grill has a 52-week low of $44.46 and a 52-week high of $69.26. The stock's fifty day simple moving average is $50.11 and its two-hundred day simple moving average is $56.29.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The restaurant operator reported $0.29 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.01. Chipotle Mexican Grill had a net margin of 13.56% and a return on equity of 42.92%. The business had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.98 billion. On average, equities analysts forecast that Chipotle Mexican Grill will post 1.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Chipotle Mexican Grill

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Tortoise Investment Management LLC boosted its position in Chipotle Mexican Grill by 14.0% during the 4th quarter. Tortoise Investment Management LLC now owns 1,436 shares of the restaurant operator's stock worth $87,000 after acquiring an additional 176 shares during the period. Traynor Capital Management Inc. grew its position in Chipotle Mexican Grill by 2.5% in the 4th quarter. Traynor Capital Management Inc. now owns 7,522 shares of the restaurant operator's stock valued at $454,000 after buying an additional 181 shares in the last quarter. BTC Capital Management Inc. lifted its stake in shares of Chipotle Mexican Grill by 1.9% in the 4th quarter. BTC Capital Management Inc. now owns 9,969 shares of the restaurant operator's stock worth $601,000 after acquiring an additional 184 shares during the period. Revolve Wealth Partners LLC boosted its holdings in shares of Chipotle Mexican Grill by 4.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 4,804 shares of the restaurant operator's stock valued at $290,000 after acquiring an additional 214 shares in the last quarter. Finally, Confluence Wealth Services Inc. increased its stake in shares of Chipotle Mexican Grill by 4.2% during the fourth quarter. Confluence Wealth Services Inc. now owns 5,391 shares of the restaurant operator's stock valued at $310,000 after acquiring an additional 218 shares during the period. 91.31% of the stock is currently owned by institutional investors and hedge funds.

Chipotle Mexican Grill Company Profile

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.