BMO Capital Markets Cuts Chipotle Mexican Grill (NYSE:CMG) Price Target to $55.00

Chipotle Mexican Grill (NYSE:CMG) had its price objective trimmed by BMO Capital Markets from $57.00 to $55.00 in a research report released on Thursday morning, Benzinga reports. The brokerage currently has a market perform rating on the restaurant operator’s stock.

CMG has been the subject of several other research reports. Oppenheimer dropped their price target on shares of Chipotle Mexican Grill from $70.00 to $65.00 and set an outperform rating for the company in a research report on Thursday. The Goldman Sachs Group assumed coverage on Chipotle Mexican Grill in a research report on Thursday, June 13th. They issued a buy rating and a $74.60 target price on the stock. Evercore ISI reduced their target price on Chipotle Mexican Grill from $3,600.00 to $72.00 and set an outperform rating on the stock in a report on Tuesday, July 16th. BTIG Research upped their price target on Chipotle Mexican Grill from $65.00 to $67.00 and gave the stock a buy rating in a research note on Thursday, April 25th. Finally, JPMorgan Chase & Co. lifted their price objective on Chipotle Mexican Grill from $55.00 to $60.00 and gave the company a neutral rating in a research note on Monday, June 3rd. Eleven equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $62.88.

Chipotle Mexican Grill Stock Performance

Shares of CMG opened at $49.83 on Thursday. The company has a market capitalization of $68.43 billion, a price-to-earnings ratio of 53.17, a PEG ratio of 2.00 and a beta of 1.24. The company’s 50 day simple moving average is $125.36 and its 200 day simple moving average is $79.76. Chipotle Mexican Grill has a 1 year low of $35.37 and a 1 year high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings results on Wednesday, July 24th. The restaurant operator reported $0.34 EPS for the quarter, beating the consensus estimate of $0.32 by $0.02. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.94 billion. Chipotle Mexican Grill had a return on equity of 44.01% and a net margin of 13.23%. The firm’s revenue was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $12.65 EPS. Equities analysts expect that Chipotle Mexican Grill will post 1.09 EPS for the current fiscal year.

Institutional Investors Weigh In On Chipotle Mexican Grill

A number of hedge funds have recently made changes to their positions in CMG. Moody National Bank Trust Division raised its stake in Chipotle Mexican Grill by 1.0% during the 1st quarter. Moody National Bank Trust Division now owns 490 shares of the restaurant operator’s stock valued at $1,424,000 after acquiring an additional 5 shares in the last quarter. Perpetual Ltd purchased a new position in Chipotle Mexican Grill during the 1st quarter valued at about $730,000. GAMMA Investing LLC increased its holdings in shares of Chipotle Mexican Grill by 27.6% in the 1st quarter. GAMMA Investing LLC now owns 250 shares of the restaurant operator’s stock valued at $727,000 after purchasing an additional 54 shares during the period. M&G Plc acquired a new position in shares of Chipotle Mexican Grill in the 1st quarter valued at about $9,221,000. Finally, Gulf International Bank UK Ltd lifted its position in shares of Chipotle Mexican Grill by 0.7% in the first quarter. Gulf International Bank UK Ltd now owns 2,281 shares of the restaurant operator’s stock worth $6,630,000 after purchasing an additional 15 shares in the last quarter. Institutional investors own 91.31% 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.