Citigroup Lowers Chipotle Mexican Grill (NYSE:CMG) Price Target to $69.00

Chipotle Mexican Grill (NYSE:CMGGet Free Report) had its price objective lowered by investment analysts at Citigroup from $70.00 to $69.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the restaurant operator’s stock. Citigroup’s price target would suggest a potential upside of 19.47% from the company’s current price.

A number of other analysts also recently commented on CMG. Truist Financial increased their price target on Chipotle Mexican Grill from $72.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Wedbush reiterated an “outperform” rating and set a $69.00 price target on shares of Chipotle Mexican Grill in a research note on Wednesday, January 22nd. Jefferies Financial Group lifted their price objective on Chipotle Mexican Grill from $56.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, December 16th. Piper Sandler increased their target price on shares of Chipotle Mexican Grill from $59.00 to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, TD Cowen upped their price target on shares of Chipotle Mexican Grill from $65.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, Chipotle Mexican Grill presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.88.

Check Out Our Latest Stock Analysis on CMG

Chipotle Mexican Grill Trading Down 0.9 %

NYSE:CMG opened at $57.76 on Monday. Chipotle Mexican Grill has a 12 month low of $46.29 and a 12 month high of $69.26. The stock has a market capitalization of $78.70 billion, a price-to-earnings ratio of 53.76, a PEG ratio of 1.88 and a beta of 1.27. The firm has a fifty day simple moving average of $60.63 and a two-hundred day simple moving average of $57.72.

Chipotle Mexican Grill (NYSE:CMGGet Free Report) last posted its earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share for the quarter, topping 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 analyst estimates of $2.82 billion. During the same quarter in the prior year, the business posted $0.23 EPS. The firm’s revenue was up 13.0% compared to the same quarter last year. Equities analysts predict that Chipotle Mexican Grill will post 1.11 earnings per share for the current fiscal year.

Insider Activity at Chipotle Mexican Grill

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. ZRC Wealth Management LLC lifted its position in Chipotle Mexican Grill by 384.0% during the third quarter. ZRC Wealth Management LLC now owns 484 shares of the restaurant operator’s stock valued at $28,000 after buying an additional 384 shares during the period. Transcendent Capital Group LLC grew its stake in shares of Chipotle Mexican Grill by 950.0% in the third quarter. Transcendent Capital Group LLC now owns 525 shares of the restaurant operator’s stock worth $30,000 after acquiring an additional 475 shares during the period. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Chipotle Mexican Grill in the third quarter worth $32,000. Capital Performance Advisors LLP purchased a new position in shares of Chipotle Mexican Grill in the third quarter worth approximately $33,000. Finally, Quarry LP bought a new stake in shares of Chipotle Mexican Grill during the 2nd quarter valued at $37,000. Hedge funds and other institutional investors own 91.31% of the company’s stock.

About Chipotle Mexican Grill

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Chipotle Mexican Grill (NYSE:CMG)

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