Chipotle Mexican Grill (NYSE:CMG) Stock Price Target Cut by JPMorgan Chase & Co.

Chipotle Mexican Grill (NYSE:CMG) had its price objective decreased by research analysts at JPMorgan Chase & Co. from $37.00 to $36.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the restaurant operator’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 14.90% from the stock’s current price.

Other analysts have also recently issued research reports about the company. Robert W. Baird reduced their price objective on Chipotle Mexican Grill from $40.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, October 2nd. Oppenheimer reissued an “outperform” rating and issued a $51.00 target price on shares of Chipotle Mexican Grill in a research report on Thursday. DA Davidson reiterated a “buy” rating and issued a $45.00 price objective on shares of Chipotle Mexican Grill in a research note on Thursday. BNP Paribas Exane lowered their price objective on shares of Chipotle Mexican Grill from $39.00 to $36.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Guggenheim reissued a “neutral” rating and issued a $32.00 price objective (down from $36.00) on shares of Chipotle Mexican Grill in a report on Thursday. Twenty-seven research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.44.

Chipotle Mexican Grill Stock Up 9.1%

CMG traded up $2.60 during mid-day trading on Thursday, reaching $31.33. 42,442,003 shares of the company traded hands, compared to its average volume of 18,084,322. The company’s fifty day moving average price is $33.20 and its 200-day moving average price is $34.21. The stock has a market capitalization of $39.65 billion, a P/E ratio of 28.74, a P/E/G ratio of 1.67 and a beta of 0.96. Chipotle Mexican Grill has a 52-week low of $27.31 and a 52-week high of $41.42.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings results on Wednesday, October 28th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.02). The firm had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.29 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 9.6% on a year-over-year basis. During the same quarter last year, the business earned $0.29 earnings per share. As a group, sell-side analysts forecast that Chipotle Mexican Grill will post 1.14 earnings per share for the current fiscal year.

Insider Activity at Chipotle Mexican Grill

In other news, insider Matthew R. Bush sold 2,675 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $35.75, for a total value of $95,631.25. Following the transaction, the insider owned 21,415 shares of the company’s stock, valued at $765,586.25. This trade represents a 11.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.45% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CMG. Greenleaf Trust lifted its holdings in Chipotle Mexican Grill by 3.4% during the third quarter. Greenleaf Trust now owns 19,573 shares of the restaurant operator’s stock valued at $625,000 after purchasing an additional 646 shares in the last quarter. Nippon Life Global Investors Americas Inc. boosted its position in shares of Chipotle Mexican Grill by 754.6% in the third quarter. Nippon Life Global Investors Americas Inc. now owns 360,320 shares of the restaurant operator’s stock worth $11,512,000 after purchasing an additional 318,160 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Chipotle Mexican Grill in the third quarter worth approximately $10,854,000. Invera Wealth Advisors LLC increased its stake in shares of Chipotle Mexican Grill by 10.9% in the third quarter. Invera Wealth Advisors LLC now owns 36,355 shares of the restaurant operator’s stock worth $1,162,000 after purchasing an additional 3,586 shares in the last quarter. Finally, MGO One Seven LLC increased its stake in shares of Chipotle Mexican Grill by 8.7% in the third quarter. MGO One Seven LLC now owns 53,760 shares of the restaurant operator’s stock worth $1,718,000 after purchasing an additional 4,296 shares in the last quarter. 91.30% of the stock is currently owned by institutional investors.

More Chipotle Mexican Grill News

Here are the key news stories impacting Chipotle Mexican Grill this week:

• Positive Sentiment: Third-quarter revenue rose 9.6% to $3.29 billion, in line with expectations, while comparable-restaurant sales increased 2.1% and transactions grew for the third consecutive quarter. Value offers and limited-time menu items helped attract diners. Chipotle beats quarterly sales expectations on resilient demand
• Positive Sentiment: Investors responded favorably to signs of a traffic recovery following earlier food-safety concerns. New menu launches, refreshed loyalty benefits and plans to accelerate technology and menu innovation are supporting the turnaround. Chipotle Sales Beat as New Chicken, Chips Bring Diners Back
• Positive Sentiment: Chipotle opened 84 company-owned restaurants during the quarter, and its loyalty program surpassed 24 million members, providing additional long-term growth and customer-engagement potential. Chipotle: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Several analysts maintained bullish ratings, including DA Davidson and BTIG Research at $45 targets and Oppenheimer at a $51 target, implying substantial upside based on the supplied reference price. Oppenheimer analyst rating
• Neutral Sentiment: Analyst opinion remains mixed: Citigroup kept a Buy rating while cutting its target to $41, whereas BNP Paribas Exane retained Neutral and reduced its target to $36. Bernstein also lowered its target to $43 from $50. Citigroup price target
• Negative Sentiment: Adjusted earnings were $0.27 per share, below the $0.29 consensus and last year’s $0.29, as higher operating costs, beef prices and increased protein usage pressured margins. Chipotle Q3 earnings miss estimates
• Negative Sentiment: Management’s outlook calls for only modestly higher sales, leaving investors dependent on the fourth-quarter brisket launch, continued traffic gains and successful cost management to sustain the recovery. The rest of Chipotle’s year hinges on brisket

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill, Inc (NYSE: CMG) operates a chain of fast-casual restaurants focused on Mexican-inspired food. Its menu includes burritos, burrito bowls, tacos, quesadillas and salads, with options such as chicken, steak, barbacoa, carnitas, sofritas and vegetables. The company emphasizes preparing food in its restaurants from ingredients it describes as responsibly sourced, including meats raised with attention to animal welfare and produce from selected suppliers.

Founded by Steve Ells in 1993, Chipotle opened its first restaurant in Denver, Colorado.