Chipotle Mexican Grill (NYSE:CMG) Price Target Cut to $70.00 by Analysts at Citigroup

Chipotle Mexican Grill (NYSE:CMG) had its price objective decreased by equities research analysts at Citigroup from $71.00 to $70.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the restaurant operator’s stock. Citigroup’s target price suggests a potential upside of 25.52% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Stephens decreased their price objective on Chipotle Mexican Grill from $66.00 to $65.00 and set an “equal weight” rating for the company in a research report on Wednesday. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $67.00 price target on shares of Chipotle Mexican Grill in a research note on Wednesday, August 14th. Guggenheim raised their price target on Chipotle Mexican Grill from $54.50 to $55.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Evercore ISI raised their price target on Chipotle Mexican Grill from $59.00 to $70.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 15th. Finally, BMO Capital Markets raised their price target on Chipotle Mexican Grill from $55.00 to $56.00 and gave the stock a “market perform” rating in a research note on Wednesday. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, Chipotle Mexican Grill has a consensus rating of “Moderate Buy” and an average target price of $64.47.

Chipotle Mexican Grill Stock Up 0.1 %

NYSE:CMG opened at $55.77 on Wednesday. Chipotle Mexican Grill has a 1-year low of $38.01 and a 1-year high of $69.26. The firm has a market capitalization of $76.38 billion, a price-to-earnings ratio of 54.68, a price-to-earnings-growth ratio of 2.41 and a beta of 1.25. The stock has a fifty day simple moving average of $57.18 and a 200 day simple moving average of $81.14.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. Chipotle Mexican Grill had a return on equity of 44.01% and a net margin of 13.23%. The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same quarter last year, the company posted $0.23 EPS. Chipotle Mexican Grill’s revenue for the quarter was up 13.0% on a year-over-year basis. Equities analysts predict that Chipotle Mexican Grill will post 1.08 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Curtis E. Garner sold 17,394 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $54.68, for a total value of $951,103.92. Following the transaction, the insider now owns 358,300 shares in the company, valued at approximately $19,591,844. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Curtis E. Garner sold 15,750 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $57.05, for a total transaction of $898,537.50. Following the sale, the insider now directly owns 457,764 shares in the company, valued at approximately $26,115,436.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Curtis E. Garner sold 17,394 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $54.68, for a total value of $951,103.92. Following the sale, the insider now owns 358,300 shares in the company, valued at approximately $19,591,844. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,684 shares of company stock worth $2,817,127. Company insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Semmax Financial Advisors Inc. lifted its stake in shares of Chipotle Mexican Grill by 225.0% in the first quarter. Semmax Financial Advisors Inc. now owns 13 shares of the restaurant operator’s stock worth $42,000 after acquiring an additional 9 shares during the period. Crewe Advisors LLC acquired a new position in Chipotle Mexican Grill in the first quarter valued at approximately $44,000. Westside Investment Management Inc. acquired a new position in Chipotle Mexican Grill in the first quarter valued at approximately $58,000. Valley National Advisers Inc. lifted its stake in Chipotle Mexican Grill by 9.8% in the first quarter. Valley National Advisers Inc. now owns 45 shares of the restaurant operator’s stock valued at $131,000 after buying an additional 4 shares during the period. Finally, LRI Investments LLC acquired a new position in Chipotle Mexican Grill in the first quarter valued at approximately $168,000. 91.31% of the stock is owned by institutional investors and hedge funds.

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.