Chipotle Mexican Grill (NYSE:CMG) Price Target Cut to $45.00 by Analysts at Wells Fargo & Company

Chipotle Mexican Grill (NYSE:CMG) had its price target decreased by Wells Fargo & Company from $55.00 to $45.00 in a report published on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the restaurant operator’s stock.

Several other research firms also recently commented on CMG. Raymond James Financial reissued an “outperform” rating and issued a $40.00 price objective (down previously from $52.00) on shares of Chipotle Mexican Grill in a report on Thursday. Barclays lowered their price target on Chipotle Mexican Grill from $53.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 22nd. Jefferies Financial Group lowered their price target on Chipotle Mexican Grill from $48.00 to $44.00 and set a “hold” rating on the stock in a research report on Monday, October 13th. BTIG Research lowered their price target on Chipotle Mexican Grill from $57.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Melius initiated coverage on Chipotle Mexican Grill in a research report on Monday, July 14th. They set a “hold” rating and a $60.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Chipotle Mexican Grill has an average rating of “Moderate Buy” and a consensus target price of $50.97.

Chipotle Mexican Grill Stock Down 18.0%

Shares of CMG opened at $32.61 on Thursday. The stock has a market capitalization of $43.73 billion, a P/E ratio of 28.86, a P/E/G ratio of 2.65 and a beta of 0.99. Chipotle Mexican Grill has a twelve month low of $31.01 and a twelve month high of $66.74. The company has a 50 day moving average of $40.60 and a 200-day moving average of $46.79.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings data on Wednesday, October 29th. The restaurant operator reported $0.29 EPS for the quarter, meeting the consensus estimate of $0.29. The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.06 billion. Chipotle Mexican Grill had a return on equity of 44.32% and a net margin of 13.04%.The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.27 EPS. On average, sell-side analysts anticipate that Chipotle Mexican Grill will post 1.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Chipotle Mexican Grill

Several hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Chipotle Mexican Grill during the second quarter worth $1,001,668,000. Nuveen LLC acquired a new stake in shares of Chipotle Mexican Grill during the first quarter worth $535,023,000. Sustainable Growth Advisers LP acquired a new stake in shares of Chipotle Mexican Grill during the second quarter worth $597,031,000. Goldman Sachs Group Inc. lifted its holdings in shares of Chipotle Mexican Grill by 98.1% during the first quarter. Goldman Sachs Group Inc. now owns 9,900,521 shares of the restaurant operator’s stock worth $497,105,000 after buying an additional 4,903,969 shares in the last quarter. Finally, Montrusco Bolton Investments Inc. lifted its holdings in shares of Chipotle Mexican Grill by 5,319.7% during the first quarter. Montrusco Bolton Investments Inc. now owns 4,848,990 shares of the restaurant operator’s stock worth $235,580,000 after buying an additional 4,759,520 shares in the last quarter. Institutional investors and hedge funds own 91.30% of the company’s stock.

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.