Chipotle Mexican Grill (NYSE:CMG) Price Target Raised to $45.00 at Argus

Chipotle Mexican Grill (NYSE:CMG) had its price objective raised by investment analysts at Argus from $40.00 to $45.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the restaurant operator’s stock. Argus’ price target indicates a potential upside of 21.16% from the company’s previous close.

Several other equities analysts have also commented on the stock. Evercore reiterated an “outperform” rating and issued a $47.00 price target on shares of Chipotle Mexican Grill in a research note on Thursday, July 30th. Piper Sandler reduced their price target on shares of Chipotle Mexican Grill from $42.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, July 30th. Barclays dropped their price objective on Chipotle Mexican Grill from $40.00 to $38.00 and set an “equal weight” rating on the stock in a report on Thursday, April 30th. TD Cowen reissued a “buy” rating and issued a $44.00 target price on shares of Chipotle Mexican Grill in a report on Thursday, July 30th. Finally, Raymond James Financial restated an “outperform” rating and set a $42.50 price target on shares of Chipotle Mexican Grill in a research note on Thursday. Twenty-four research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Chipotle Mexican Grill currently has an average rating of “Moderate Buy” and an average target price of $44.16.

Chipotle Mexican Grill Price Performance

Shares of CMG traded down $0.32 during mid-day trading on Tuesday, reaching $37.14. The company’s stock had a trading volume of 1,456,519 shares, compared to its average volume of 17,724,416. Chipotle Mexican Grill has a 12-month low of $28.03 and a 12-month high of $44.27. The stock has a market cap of $47.64 billion, a PE ratio of 34.11, a price-to-earnings-growth ratio of 2.39 and a beta of 0.94. The company’s 50 day moving average is $32.94 and its 200 day moving average is $34.56.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Wednesday, July 29th. The restaurant operator reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.01. The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.33 billion. Chipotle Mexican Grill had a return on equity of 54.65% and a net margin of 11.43%.The business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the company earned $0.33 EPS. As a group, sell-side analysts anticipate that Chipotle Mexican Grill will post 1.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Revolve Wealth Partners LLC lifted its stake in Chipotle Mexican Grill by 4.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 4,804 shares of the restaurant operator’s stock valued at $290,000 after buying an additional 214 shares in the last quarter. City State Bank increased its position in Chipotle Mexican Grill by 13.4% during the fourth quarter. City State Bank now owns 2,330 shares of the restaurant operator’s stock worth $86,000 after buying an additional 275 shares in the last quarter. Groupama Asset Managment raised its holdings in shares of Chipotle Mexican Grill by 1.9% in the fourth quarter. Groupama Asset Managment now owns 15,596 shares of the restaurant operator’s stock worth $568,000 after acquiring an additional 291 shares during the last quarter. Catalyst Financial Partners LLC lifted its position in shares of Chipotle Mexican Grill by 4.6% in the fourth quarter. Catalyst Financial Partners LLC now owns 6,763 shares of the restaurant operator’s stock valued at $250,000 after acquiring an additional 298 shares in the last quarter. Finally, Citizens Financial Group Inc. RI boosted its stake in shares of Chipotle Mexican Grill by 2.5% during the first quarter. Citizens Financial Group Inc. RI now owns 12,708 shares of the restaurant operator’s stock valued at $407,000 after acquiring an additional 311 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.