Chipotle Mexican Grill (NYSE:CMG) Given New $45.00 Price Target at Raymond James Financial

Chipotle Mexican Grill (NYSE:CMG) had its price objective boosted by stock analysts at Raymond James Financial from $40.00 to $45.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the restaurant operator’s stock. Raymond James Financial’s price target would suggest a potential upside of 15.55% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. BMO Capital Markets reiterated an “outperform” rating on shares of Chipotle Mexican Grill in a report on Thursday, October 30th. Evercore ISI reiterated an “outperform” rating and issued a $45.00 price target on shares of Chipotle Mexican Grill in a research note on Friday, December 19th. Morgan Stanley reduced their price target on Chipotle Mexican Grill from $59.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. Cowen restated a “buy” rating on shares of Chipotle Mexican Grill in a research note on Monday, January 5th. Finally, Truist Financial lifted their price objective on Chipotle Mexican Grill from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.16.

Chipotle Mexican Grill Stock Down 2.5%

Shares of NYSE:CMG opened at $38.94 on Wednesday. The company has a market capitalization of $51.49 billion, a price-to-earnings ratio of 34.46, a price-to-earnings-growth ratio of 3.80 and a beta of 0.97. The company has a 50 day moving average of $35.82 and a two-hundred day moving average of $40.05. Chipotle Mexican Grill has a 52-week low of $29.75 and a 52-week high of $59.57.

Chipotle Mexican Grill (NYSE:CMG) last posted its earnings results on Wednesday, October 29th. The restaurant operator reported $0.29 EPS for the quarter, hitting analysts’ consensus estimates of $0.29. The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.06 billion. Chipotle Mexican Grill had a net margin of 13.04% and a return on equity of 45.39%. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.27 earnings per share. On average, equities analysts anticipate that Chipotle Mexican Grill will post 1.29 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Revolve Wealth Partners LLC raised its position in shares of Chipotle Mexican Grill by 4.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 4,804 shares of the restaurant operator’s stock valued at $290,000 after acquiring an additional 214 shares in the last quarter. Bison Wealth LLC bought a new stake in Chipotle Mexican Grill during the fourth quarter valued at $224,000. Empowered Funds LLC raised its holdings in shares of Chipotle Mexican Grill by 5.5% during the first quarter. Empowered Funds LLC now owns 26,460 shares of the restaurant operator’s stock worth $1,329,000 after purchasing an additional 1,368 shares during the period. Diversified Trust Co lifted its position in shares of Chipotle Mexican Grill by 2.8% in the 2nd quarter. Diversified Trust Co now owns 10,372 shares of the restaurant operator’s stock worth $582,000 after buying an additional 280 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of Chipotle Mexican Grill by 14.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 23,880 shares of the restaurant operator’s stock worth $1,341,000 after buying an additional 2,959 shares during the last quarter. Institutional investors and hedge funds own 91.30% of the company’s stock.

About Chipotle Mexican Grill

Chipotle Mexican Grill is a fast-casual restaurant company known for its Mexican-inspired menu of burritos, bowls, tacos and salads. Founded in 1993 by Steve Ells, the chain emphasizes fresh, customizable meals made from a limited menu of core ingredients and a focus on ingredient quality. Chipotle operates primarily company-owned restaurants and offers dine-in, takeout, catering and delivery through its own digital platforms and third-party partners.

The company is headquartered in Newport Beach, California, and traces its roots to Denver, Colorado.