TD Securities Issues Pessimistic Forecast for Chipotle Mexican Grill (NYSE:CMG) Stock Price

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) had its price target cut by equities research analysts at TD Securities from $60.00 to $57.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the restaurant operator's stock. TD Securities' target price points to a potential upside of 16.86% from the company's previous close.

Several other brokerages have also recently commented on CMG. Piper Sandler decreased their target price on shares of Chipotle Mexican Grill from $60.00 to $59.00 and set a "neutral" rating for the company in a report on Wednesday, February 5th. KeyCorp dropped their price target on Chipotle Mexican Grill from $64.00 to $60.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Stifel Nicolaus dropped their target price on Chipotle Mexican Grill from $68.00 to $65.00 and set a "buy" rating on the stock in a report on Wednesday, March 19th. Stephens reduced their price objective on Chipotle Mexican Grill from $54.00 to $49.00 and set an "equal weight" rating for the company in a research report on Thursday. Finally, Citigroup cut their price target on Chipotle Mexican Grill from $70.00 to $62.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Eight equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $63.58.

Chipotle Mexican Grill Stock Performance

Shares of NYSE:CMG opened at $48.78 on Thursday. The stock has a market capitalization of $66.11 billion, a price-to-earnings ratio of 43.93, 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. The company has a 50 day moving average price of $50.31 and a 200 day moving average price of $56.38.

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

Institutional Trading of Chipotle Mexican Grill

Several institutional investors have recently made changes to their positions in CMG. Anchor Investment Management LLC grew its stake in shares of Chipotle Mexican Grill by 7.1% in the 3rd quarter. Anchor Investment Management LLC now owns 26,116 shares of the restaurant operator's stock valued at $1,505,000 after purchasing an additional 1,724 shares during the period. Pine Valley Investments Ltd Liability Co grew its position in Chipotle Mexican Grill by 1,597.1% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 66,188 shares of the restaurant operator's stock valued at $3,814,000 after acquiring an additional 62,288 shares during the period. World Investment Advisors LLC acquired a new position in Chipotle Mexican Grill during the third quarter worth $4,709,000. Arvest Bank Trust Division bought a new position in shares of Chipotle Mexican Grill during the third quarter valued at $359,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Chipotle Mexican Grill in the 3rd quarter valued at $668,000. 91.31% of the stock is currently 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.

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.