Chipotle Mexican Grill (NYSE:CMG) Upgraded at JPMorgan Chase & Co.

Chipotle Mexican Grill (NYSE:CMG) was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued on Friday, Marketbeat reports. The brokerage currently has a $35.00 price target on the restaurant operator’s stock, down from their prior price target of $38.00. JPMorgan Chase & Co.‘s target price points to a potential upside of 24.76% from the company’s current price.

CMG has been the subject of several other reports. Piper Sandler lowered their price objective on Chipotle Mexican Grill from $44.00 to $42.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Zacks Research upgraded Chipotle Mexican Grill from a “strong sell” rating to a “hold” rating in a research report on Friday, April 17th. Raymond James Financial lowered their price objective on Chipotle Mexican Grill from $43.00 to $41.00 and set an “outperform” rating for the company in a research report on Tuesday, April 21st. Weiss Ratings lowered Chipotle Mexican Grill from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 20th. Finally, Mizuho upgraded Chipotle Mexican Grill from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $37.00 to $40.00 in a research report on Friday, March 20th. Twenty-four analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $45.48.

Chipotle Mexican Grill Stock Performance

Shares of Chipotle Mexican Grill stock opened at $28.05 on Friday. The firm has a market capitalization of $35.98 billion, a price-to-earnings ratio of 25.74, a PEG ratio of 1.85 and a beta of 0.99. Chipotle Mexican Grill has a fifty-two week low of $28.03 and a fifty-two week high of $58.42. The stock has a 50 day moving average of $32.93 and a 200 day moving average of $35.24.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings data on Wednesday, April 29th. The restaurant operator reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24. The company had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.07 billion. Chipotle Mexican Grill had a return on equity of 49.64% and a net margin of 11.96%.The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.29 earnings per share. Analysts forecast that Chipotle Mexican Grill will post 1.13 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Revolve Wealth Partners LLC lifted its holdings in Chipotle Mexican Grill by 4.7% in the fourth 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 during the period. Centurion Wealth Management LLC lifted its holdings in Chipotle Mexican Grill by 3.1% in the fourth quarter. Centurion Wealth Management LLC now owns 8,713 shares of the restaurant operator’s stock valued at $322,000 after acquiring an additional 260 shares during the period. City State Bank lifted its holdings in Chipotle Mexican Grill by 13.4% in the fourth quarter. City State Bank now owns 2,330 shares of the restaurant operator’s stock valued at $86,000 after acquiring an additional 275 shares during the period. Groupama Asset Managment lifted its holdings in Chipotle Mexican Grill by 1.9% in the fourth quarter. Groupama Asset Managment now owns 15,596 shares of the restaurant operator’s stock valued at $568,000 after acquiring an additional 291 shares during the period. Finally, Cromwell Holdings LLC lifted its holdings in Chipotle Mexican Grill by 7.4% in the fourth quarter. Cromwell Holdings LLC now owns 4,295 shares of the restaurant operator’s stock valued at $159,000 after acquiring an additional 295 shares during the period. 91.30% of the stock is currently owned by hedge funds and other institutional investors.

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.