Chipotle Mexican Grill (NYSE:CMG) Price Target Lowered to $62.00 at Robert W. Baird

Chipotle Mexican Grill (NYSE:CMG) had its price objective lowered by analysts at Robert W. Baird from $68.00 to $62.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the restaurant operator’s stock. Robert W. Baird’s price target points to a potential upside of 31.12% from the stock’s previous close.

Several other research firms have also weighed in on CMG. Wedbush lowered their target price on Chipotle Mexican Grill from $69.00 to $64.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. Sanford C. Bernstein restated an “outperform” rating and set a $70.00 target price on shares of Chipotle Mexican Grill in a report on Tuesday, January 28th. Wells Fargo & Company reduced their price target on shares of Chipotle Mexican Grill from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Barclays dropped their price objective on shares of Chipotle Mexican Grill from $63.00 to $60.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. Finally, JPMorgan Chase & Co. reduced their target price on Chipotle Mexican Grill from $64.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, March 20th. Eight equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $66.10.

Chipotle Mexican Grill Trading Down 5.6 %

CMG stock opened at $47.29 on Monday. Chipotle Mexican Grill has a 52 week low of $44.99 and a 52 week high of $69.26. The company has a market cap of $64.09 billion, a P/E ratio of 42.59, a P/E/G ratio of 2.04 and a beta of 1.27. The company’s 50-day moving average price is $53.16 and its 200 day moving average price is $57.33.

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

Hedge Funds Weigh In On Chipotle Mexican Grill

Several hedge funds and other institutional investors have recently modified their holdings of CMG. Ethos Financial Group LLC acquired a new position in Chipotle Mexican Grill during the fourth quarter valued at approximately $31,000. Sound Income Strategies LLC increased its holdings in Chipotle Mexican Grill by 1,110.0% in the 4th quarter. Sound Income Strategies LLC now owns 605 shares of the restaurant operator’s stock valued at $36,000 after purchasing an additional 555 shares in the last quarter. Murphy & Mullick Capital Management Corp purchased a new position in Chipotle Mexican Grill in the fourth quarter valued at about $38,000. Financial Life Planners acquired a new position in shares of Chipotle Mexican Grill during the fourth quarter worth about $45,000. Finally, Mascagni Wealth Management Inc. acquired a new position in shares of Chipotle Mexican Grill during the fourth quarter worth about $45,000. 91.31% of the stock is 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.