Evercore ISI Cuts Chipotle Mexican Grill (NYSE:CMG) Price Target to $59.00

Chipotle Mexican Grill (NYSE:CMG) had its price target cut by stock analysts at Evercore ISI from $65.00 to $59.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the restaurant operator’s stock. Evercore ISI’s price objective points to a potential upside of 14.16% from the stock’s previous close.

Several other research firms also recently commented on CMG. Stifel Nicolaus reiterated a “buy” rating and set a $70.00 target price on shares of Chipotle Mexican Grill in a research report on Wednesday. Argus lifted their price target on shares of Chipotle Mexican Grill from $73.36 to $77.76 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Citigroup decreased their price objective on Chipotle Mexican Grill from $71.00 to $69.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Robert W. Baird cut their target price on Chipotle Mexican Grill from $74.00 to $62.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Oppenheimer reduced their price target on Chipotle Mexican Grill from $70.00 to $65.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, Chipotle Mexican Grill presently has a consensus rating of “Moderate Buy” and an average price target of $62.36.

Chipotle Mexican Grill Stock Performance

Shares of NYSE:CMG opened at $51.68 on Wednesday. Chipotle Mexican Grill has a 52-week low of $35.37 and a 52-week high of $69.26. The company has a market capitalization of $70.97 billion, a PE ratio of 54.98, a price-to-earnings-growth ratio of 2.23 and a beta of 1.24. The company has a fifty day moving average of $123.17 and a 200-day moving average of $80.62.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Wednesday, July 24th. The restaurant operator reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 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 $2.97 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter in the prior year, the firm earned $12.65 EPS. The business’s revenue for the quarter was up 18.2% compared to the same quarter last year. On average, equities analysts forecast that Chipotle Mexican Grill will post 1.09 EPS for the current fiscal year.

Insider Activity

In other news, insider Curtis E. Garner sold 17,394 shares of the firm’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 completion of the sale, the insider now directly owns 358,300 shares in the company, valued at approximately $19,591,844. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.02% of the company’s stock.

Institutional Trading of Chipotle Mexican Grill

Several hedge funds have recently bought and sold shares of CMG. Steph & Co. bought a new stake in shares of Chipotle Mexican Grill during the first quarter worth about $29,000. Semmax Financial Advisors Inc. increased its holdings in Chipotle Mexican Grill by 225.0% during the first quarter. Semmax Financial Advisors Inc. now owns 13 shares of the restaurant operator’s stock worth $42,000 after buying an additional 9 shares during the last quarter. Crewe Advisors LLC purchased a new position in Chipotle Mexican Grill in the first quarter valued at about $44,000. ICA Group Wealth Management LLC purchased a new position in Chipotle Mexican Grill in the fourth quarter valued at about $37,000. Finally, Westside Investment Management Inc. bought a new position in shares of Chipotle Mexican Grill during the 1st quarter valued at approximately $58,000. Institutional investors and hedge funds own 91.31% of the company’s stock.

Chipotle Mexican Grill Company Profile

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.