Chipotle Mexican Grill (NYSE:CMG) Price Target Lowered to $60.00 at Wells Fargo & Company

Chipotle Mexican Grill (NYSE:CMG - Free Report) had its target price reduced by Wells Fargo & Company from $70.00 to $60.00 in a research report released on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the restaurant operator's stock.

Other equities research analysts have also issued reports about the stock. Citigroup dropped 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. Stephens restated an "equal weight" rating and set a $54.00 price objective on shares of Chipotle Mexican Grill in a research report on Monday, April 21st. JPMorgan Chase & Co. lowered their price objective on Chipotle Mexican Grill from $64.00 to $58.00 and set a "neutral" rating for the company in a research note on Thursday, March 20th. Cfra raised shares of Chipotle Mexican Grill from a "buy" rating to a "strong-buy" rating and upped their price objective for the company from $59.00 to $73.00 in a research note on Wednesday, February 5th. Finally, Raymond James decreased their price target on shares of Chipotle Mexican Grill from $72.00 to $69.00 and set an "outperform" rating for the company in a research note on Tuesday, January 28th. Eight equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Chipotle Mexican Grill has a consensus rating of "Moderate Buy" and an average price target of $61.78.

Chipotle Mexican Grill Stock Up 4.8 %

CMG stock traded up $2.39 during mid-day trading on Tuesday, reaching $51.93. 26,657,351 shares of the stock traded hands, compared to its average volume of 13,482,577. Chipotle Mexican Grill has a 52 week low of $44.46 and a 52 week high of $69.26. The firm has a market capitalization of $70.38 billion, a PE ratio of 46.78, a P/E/G ratio of 2.04 and a beta of 1.27. The business has a 50-day moving average of $50.11 and a two-hundred day moving average of $56.29.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The restaurant operator reported $0.29 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.98 billion. On average, equities research analysts anticipate that Chipotle Mexican Grill will post 1.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. HighMark Wealth Management LLC grew its position in Chipotle Mexican Grill by 173.4% during the first quarter. HighMark Wealth Management LLC now owns 585 shares of the restaurant operator's stock valued at $29,000 after buying an additional 371 shares during the period. Ethos Financial Group LLC acquired a new stake in shares of Chipotle Mexican Grill in the fourth quarter worth approximately $31,000. ORG Wealth Partners LLC purchased a new stake in shares of Chipotle Mexican Grill during the first quarter worth $31,000. Sound Income Strategies LLC boosted its holdings in shares of Chipotle Mexican Grill by 1,110.0% during the 4th quarter. Sound Income Strategies LLC now owns 605 shares of the restaurant operator's stock worth $36,000 after purchasing an additional 555 shares during the last quarter. Finally, Murphy & Mullick Capital Management Corp acquired a new stake in Chipotle Mexican Grill during the fourth quarter worth about $38,000. 91.31% of the stock is 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.