Chipotle Mexican Grill, Inc. (NYSE:CMG) was downgraded by research analysts at Bank of America Corporation from a “neutral” rating to an “underperform” rating in a report released on Wednesday, October 18th, Marketbeat reports. They presently have a $285.00 price target on the restaurant operator’s stock, down from their prior price target of $390.00. Bank of America Corporation’s price objective would indicate a potential upside of 3.22% from the stock’s previous close.
Several other research analysts have also recently commented on CMG. Goldman Sachs Group, Inc. (The) decreased their target price on shares of Chipotle Mexican Grill from $440.00 to $375.00 and set a “neutral” rating for the company in a research report on Tuesday, July 25th. Maxim Group reiterated a “buy” rating and issued a $435.00 price objective (down from $470.00) on shares of Chipotle Mexican Grill in a report on Wednesday, July 26th. Cowen and Company reiterated a “market perform” rating and issued a $440.00 price objective on shares of Chipotle Mexican Grill in a report on Friday, July 21st. Credit Suisse Group reissued a “neutral” rating and set a $320.00 target price (down from $335.00) on shares of Chipotle Mexican Grill in a research note on Friday, August 25th. Finally, Zacks Investment Research lowered shares of Chipotle Mexican Grill from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 26th. Eight research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Chipotle Mexican Grill presently has a consensus rating of “Hold” and an average price target of $356.06.
Shares of Chipotle Mexican Grill (NYSE CMG) traded down 1.92% during midday trading on Wednesday, reaching $276.12. The company’s stock had a trading volume of 1,637,424 shares. The company has a market capitalization of $7.87 billion, a P/E ratio of 59.36 and a beta of 0.60. The stock’s 50-day moving average is $310.18 and its 200-day moving average is $385.28. Chipotle Mexican Grill has a one year low of $270.00 and a one year high of $499.00.
Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings data on Tuesday, October 24th. The restaurant operator reported $1.33 earnings per share for the quarter, missing the consensus estimate of $2.24 by ($0.91). The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.14 billion. Chipotle Mexican Grill had a return on equity of 11.80% and a net margin of 3.37%. Chipotle Mexican Grill’s revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.56 EPS. On average, equities analysts expect that Chipotle Mexican Grill will post $6.82 earnings per share for the current fiscal year.
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Several hedge funds have recently added to or reduced their stakes in CMG. Carmignac Gestion grew its stake in shares of Chipotle Mexican Grill by 162.5% in the second quarter. Carmignac Gestion now owns 516,751 shares of the restaurant operator’s stock valued at $215,020,000 after acquiring an additional 319,875 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Chipotle Mexican Grill by 169.1% in the second quarter. Renaissance Technologies LLC now owns 446,100 shares of the restaurant operator’s stock valued at $185,622,000 after acquiring an additional 280,300 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Chipotle Mexican Grill by 59.8% in the second quarter. American Century Companies Inc. now owns 563,698 shares of the restaurant operator’s stock valued at $234,555,000 after acquiring an additional 210,872 shares in the last quarter. APG Asset Management N.V. grew its stake in shares of Chipotle Mexican Grill by 255.5% in the second quarter. APG Asset Management N.V. now owns 277,125 shares of the restaurant operator’s stock valued at $115,312,000 after acquiring an additional 199,170 shares in the last quarter. Finally, Numeric Investors LLC lifted its position in Chipotle Mexican Grill by 8,366.4% during the second quarter. Numeric Investors LLC now owns 110,910 shares of the restaurant operator’s stock worth $46,150,000 after purchasing an additional 109,600 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.
Chipotle Mexican Grill Company Profile
Chipotle Mexican Grill, Inc (Chipotle), together with its subsidiaries, operates Chipotle Mexican Grill restaurants. The Company’s Chipotle Mexican Grill restaurants serve a menu of burritos, tacos, burrito bowls (a burrito without the tortilla) and salads. As of December 31, 2016, the Company managed its operations and restaurants based on 11 regions.
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