Chipotle Mexican Grill (NYSE:CMG) Given New $58.00 Price Target at KeyCorp

Chipotle Mexican Grill (NYSE:CMG) had its price target trimmed by KeyCorp from $60.00 to $58.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an overweight rating on the restaurant operator’s stock.

Several other research analysts also recently issued reports on the stock. Royal Bank of Canada reduced their price target on shares of Chipotle Mexican Grill from $70.00 to $65.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. Cfra upgraded shares of Chipotle Mexican Grill from a “buy” rating to a “strong-buy” rating and boosted their price objective for the stock from $59.00 to $73.00 in a research report on Wednesday, February 5th. Wedbush lowered their target price on Chipotle Mexican Grill from $69.00 to $64.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. Stifel Nicolaus cut their price target on Chipotle Mexican Grill from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, March 19th. Finally, Stephens dropped their price objective on Chipotle Mexican Grill from $54.00 to $49.00 and set an “equal weight” rating for the company in a report on Thursday. Eight analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Chipotle Mexican Grill currently has a consensus rating of “Moderate Buy” and an average price target of $61.96.

Chipotle Mexican Grill Stock Performance

Chipotle Mexican Grill stock opened at $49.50 on Thursday. The firm’s 50 day moving average price is $50.16 and its two-hundred day moving average price is $56.33. The firm has a market cap of $67.09 billion, a PE ratio of 44.59, a P/E/G ratio of 2.04 and a beta of 1.27. Chipotle Mexican Grill has a twelve month low of $44.46 and a twelve month high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last posted its earnings results on Wednesday, April 23rd. The restaurant operator reported $0.29 EPS for the quarter, topping the consensus estimate of $0.28 by $0.01. The company had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.98 billion. Chipotle Mexican Grill had a net margin of 13.56% and a return on equity of 42.92%. Equities analysts anticipate that Chipotle Mexican Grill will post 1.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. 3Chopt Investment Partners LLC purchased a new position in shares of Chipotle Mexican Grill in the 1st quarter valued at approximately $446,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Chipotle Mexican Grill by 0.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 421,012 shares of the restaurant operator’s stock valued at $21,081,000 after buying an additional 1,241 shares during the last quarter. Money Concepts Capital Corp grew its stake in shares of Chipotle Mexican Grill by 3.0% during the 1st quarter. Money Concepts Capital Corp now owns 7,491 shares of the restaurant operator’s stock worth $376,000 after purchasing an additional 221 shares during the period. Jaffetilchin Investment Partners LLC grew its position in Chipotle Mexican Grill by 6.4% during the first quarter. Jaffetilchin Investment Partners LLC now owns 5,135 shares of the restaurant operator’s stock valued at $258,000 after buying an additional 307 shares during the period. Finally, Artemis Investment Management LLP acquired a new position in Chipotle Mexican Grill in the 1st quarter worth about $30,804,000. Hedge funds and other 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.