KeyCorp Cuts Chipotle Mexican Grill (NYSE:CMG) Price Target to $52.00

Chipotle Mexican Grill (NYSE:CMG) had its target price lowered by KeyCorp from $58.00 to $52.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an overweight rating on the restaurant operator’s stock.

A number of other brokerages have also recently weighed in on CMG. Morgan Stanley dropped their price target on Chipotle Mexican Grill from $65.00 to $59.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 15th. Wells Fargo & Company lowered their target price on Chipotle Mexican Grill from $60.00 to $55.00 and set an “overweight” rating on the stock in a research report on Thursday, October 16th. TD Cowen restated a “buy” rating and issued a $58.00 target price on shares of Chipotle Mexican Grill in a research report on Friday, September 19th. Guggenheim lowered their target price on Chipotle Mexican Grill from $47.00 to $46.00 and set a “neutral” rating on the stock in a research report on Friday, July 25th. Finally, Sanford C. Bernstein lowered their price target on Chipotle Mexican Grill from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Thursday, October 2nd. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $56.69.

Chipotle Mexican Grill Stock Down 1.7%

NYSE:CMG opened at $41.64 on Monday. The business’s 50 day moving average is $41.06 and its two-hundred day moving average is $47.18. Chipotle Mexican Grill has a 52 week low of $38.30 and a 52 week high of $66.74. The company has a market cap of $55.83 billion, a PE ratio of 37.18, a P/E/G ratio of 2.56 and a beta of 0.99.

Chipotle Mexican Grill (NYSE:CMG) last released its earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. Chipotle Mexican Grill had a return on equity of 43.50% and a net margin of 13.32%.The company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.11 billion. During the same quarter last year, the business posted $0.34 EPS. Chipotle Mexican Grill’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, sell-side analysts expect that Chipotle Mexican Grill will post 1.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Chipotle Mexican Grill

Several large investors have recently modified their holdings of CMG. Cloud Capital Management LLC bought a new position in Chipotle Mexican Grill in the 1st quarter valued at $25,000. Operose Advisors LLC acquired a new stake in Chipotle Mexican Grill during the 2nd quarter worth $25,000. Salomon & Ludwin LLC acquired a new stake in shares of Chipotle Mexican Grill in the 3rd quarter valued at about $26,000. Saudi Central Bank acquired a new stake in shares of Chipotle Mexican Grill in the 1st quarter valued at about $27,000. Finally, 1248 Management LLC acquired a new stake in shares of Chipotle Mexican Grill in the 1st quarter valued at about $27,000. 91.30% of the stock is currently owned by institutional investors.

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.