Raymond James Issues Pessimistic Forecast for Chipotle Mexican Grill (NYSE:CMG) Stock Price

Chipotle Mexican Grill (NYSE:CMG) had its target price reduced by Raymond James from $72.00 to $69.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an outperform rating on the restaurant operator’s stock.

A number of other research analysts also recently commented on CMG. Piper Sandler increased their price target on shares of Chipotle Mexican Grill from $59.00 to $60.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Stephens reiterated an “equal weight” rating and issued a $65.00 target price on shares of Chipotle Mexican Grill in a report on Tuesday, November 12th. Wedbush restated an “outperform” rating and issued a $69.00 price target on shares of Chipotle Mexican Grill in a research report on Wednesday, January 22nd. Truist Financial increased their target price on shares of Chipotle Mexican Grill from $72.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Citigroup cut their price target on shares of Chipotle Mexican Grill from $70.00 to $69.00 and set a “buy” rating on the stock in a report on Monday. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Chipotle Mexican Grill presently has an average rating of “Moderate Buy” and a consensus price target of $66.88.

Chipotle Mexican Grill Price Performance

NYSE CMG opened at $58.97 on Tuesday. Chipotle Mexican Grill has a 1-year low of $47.98 and a 1-year high of $69.26. The business has a 50 day simple moving average of $60.59 and a two-hundred day simple moving average of $57.73. The stock has a market capitalization of $80.35 billion, a PE ratio of 54.88, a P/E/G ratio of 1.88 and a beta of 1.27.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. Chipotle Mexican Grill had a net margin of 13.51% and a return on equity of 43.20%. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter in the prior year, the firm earned $0.23 earnings per share. Chipotle Mexican Grill’s revenue was up 13.0% on a year-over-year basis. On average, analysts anticipate that Chipotle Mexican Grill will post 1.11 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Laurie Schalow sold 4,404 shares of Chipotle Mexican Grill stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $65.01, for a total value of $286,304.04. Following the transaction, the insider now owns 185,792 shares of the company’s stock, valued at $12,078,337.92. The trade was a 2.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.02% of the stock is owned by company insiders.

Hedge Funds Weigh In On Chipotle Mexican Grill

Several institutional investors and hedge funds have recently bought and sold shares of the company. Hantz Financial Services Inc. grew its position in Chipotle Mexican Grill by 5,897.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 48,942 shares of the restaurant operator’s stock worth $2,820,000 after purchasing an additional 48,126 shares during the last quarter. L & S Advisors Inc purchased a new position in Chipotle Mexican Grill in the 3rd quarter worth $3,256,000. Optas LLC lifted its position in Chipotle Mexican Grill by 318.5% during the 3rd quarter. Optas LLC now owns 17,160 shares of the restaurant operator’s stock worth $989,000 after acquiring an additional 13,060 shares during the period. Harrell Investment Partners LLC purchased a new stake in Chipotle Mexican Grill during the 4th quarter valued at about $2,513,000. Finally, Savvy Advisors Inc. purchased a new stake in Chipotle Mexican Grill during the 3rd quarter valued at about $758,000. 91.31% of the stock is owned by hedge funds and other institutional investors.

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.