Maxim Group Trims Chipotle Mexican Grill, Inc. (NYSE:CMG) Target Price to $420.00

Chipotle Mexican Grill, Inc. (NYSE:CMG) had its price target lowered by analysts at Maxim Group from $435.00 to $420.00 in a research report issued to clients and investors on Thursday, October 19th, Marketbeat reports. The brokerage presently has a “buy” rating on the restaurant operator’s stock. Maxim Group’s price target indicates a potential upside of 52.11% from the stock’s current price.

Other research analysts have also issued research reports about the company. UBS AG decreased their target price on Chipotle Mexican Grill from $460.00 to $445.00 and set a “neutral” rating for the company in a research report on Tuesday, June 27th. BTIG Research reissued a “neutral” rating on shares of Chipotle Mexican Grill in a research report on Friday, July 21st. Bank of America Corporation reissued a “neutral” rating and issued a $390.00 target price (down previously from $425.00) on shares of Chipotle Mexican Grill in a research report on Wednesday, July 26th. Wells Fargo & Company lowered Chipotle Mexican Grill from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $470.00 to $375.00 in a research report on Wednesday, July 19th. They noted that the move was a valuation call. Finally, Tigress Financial reissued a “neutral” rating on shares of Chipotle Mexican Grill in a research report on Saturday, July 22nd. Eight equities research analysts have rated the stock with a sell rating, twenty-two have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Chipotle Mexican Grill presently has an average rating of “Hold” and an average target price of $356.06.

Chipotle Mexican Grill (NYSE CMG) opened at 276.12 on Thursday. The firm’s 50-day moving average price is $312.34 and its 200-day moving average price is $387.30. The firm has a market cap of $7.87 billion, a P/E ratio of 59.36 and a beta of 0.60. Chipotle Mexican Grill has a 52-week low of $273.78 and a 52-week high of $499.00.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings results on Tuesday, October 24th. The restaurant operator reported $1.33 EPS for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.91). The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.14 billion. Chipotle Mexican Grill had a net margin of 3.37% and a return on equity of 11.80%. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.56 EPS. Equities research analysts expect that Chipotle Mexican Grill will post $6.82 EPS for the current year.

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Several large investors have recently made changes to their positions in the business. Covenant Asset Management LLC boosted its position in shares of Chipotle Mexican Grill by 0.5% during the second quarter. Covenant Asset Management LLC now owns 2,187 shares of the restaurant operator’s stock valued at $910,000 after buying an additional 10 shares during the period. Tufton Capital Management boosted its position in shares of Chipotle Mexican Grill by 1.3% during the second quarter. Tufton Capital Management now owns 804 shares of the restaurant operator’s stock valued at $335,000 after buying an additional 10 shares during the period. Cutter & CO Brokerage Inc. boosted its position in shares of Chipotle Mexican Grill by 1.3% during the second quarter. Cutter & CO Brokerage Inc. now owns 763 shares of the restaurant operator’s stock valued at $317,000 after buying an additional 10 shares during the period. Simmons Bank boosted its position in shares of Chipotle Mexican Grill by 1.1% during the second quarter. Simmons Bank now owns 1,257 shares of the restaurant operator’s stock valued at $523,000 after buying an additional 14 shares during the period. Finally, Highland Capital Management LLC boosted its position in shares of Chipotle Mexican Grill by 0.6% during the second quarter. Highland Capital Management LLC now owns 2,961 shares of the restaurant operator’s stock valued at $1,232,000 after buying an additional 18 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc (Chipotle), together with its subsidiaries, operates Chipotle Mexican Grill restaurants. The Company’s Chipotle Mexican Grill restaurants serve a menu of burritos, tacos, burrito bowls (a burrito without the tortilla) and salads. As of December 31, 2016, the Company managed its operations and restaurants based on 11 regions.

Analyst Recommendations for Chipotle Mexican Grill (NYSE:CMG)

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