Chipotle Mexican Grill, Inc. (CMG) Stock Price Down 0.3% After Analyst Downgrade

Chipotle Mexican Grill, Inc. (NYSE:CMG) dropped 0.3% during mid-day trading on Thursday after Credit Suisse Group lowered their price target on the stock from $320.00 to $275.00. Credit Suisse Group currently has a neutral rating on the stock. Chipotle Mexican Grill traded as low as $273.78 and last traded at $277.96. Approximately 2,094,245 shares changed hands during mid-day trading, an increase of 48% from the average daily volume of 1,414,500 shares. The stock had previously closed at $277.01.

A number of other brokerages have also recently issued reports on CMG. Robert W. Baird reaffirmed a “hold” rating and issued a $340.00 target price (down from $385.00) on shares of Chipotle Mexican Grill in a report on Tuesday, October 3rd. Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating on shares of Chipotle Mexican Grill in a report on Wednesday, July 12th. Zacks Investment Research cut shares of Chipotle Mexican Grill from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Raymond James Financial, Inc. reaffirmed an “underperform” rating and issued a $392.00 target price on shares of Chipotle Mexican Grill in a report on Friday, July 21st. Finally, Standpoint Research raised shares of Chipotle Mexican Grill from an “underperform” rating to a “hold” rating in a report on Friday, August 25th. Eight equities research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $356.06.

Several hedge funds have recently added to or reduced their stakes in CMG. Korea Investment CORP raised its stake in shares of Chipotle Mexican Grill by 140.2% during the second quarter. Korea Investment CORP now owns 269 shares of the restaurant operator’s stock valued at $112,000 after acquiring an additional 157 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in shares of Chipotle Mexican Grill by 15.7% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 406 shares of the restaurant operator’s stock valued at $140,000 after acquiring an additional 55 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. raised its stake in shares of Chipotle Mexican Grill by 84.5% during the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 369 shares of the restaurant operator’s stock valued at $164,000 after acquiring an additional 169 shares during the last quarter. Harbour Capital Advisors LLC raised its stake in shares of Chipotle Mexican Grill by 30,455.0% during the second quarter. Harbour Capital Advisors LLC now owns 82,804 shares of the restaurant operator’s stock valued at $199,000 after acquiring an additional 82,533 shares during the last quarter. Finally, Blue Sky Asset Management LLC bought a new position in shares of Chipotle Mexican Grill during the second quarter valued at $200,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

The firm has a market capitalization of $7.87 billion, a PE ratio of 59.36 and a beta of 0.60. The stock’s 50-day moving average is $312.34 and its 200-day moving average is $387.30.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings results on Tuesday, October 24th. The restaurant operator reported $1.33 EPS for the quarter, missing the Zacks’ consensus estimate of $2.24 by ($0.91). Chipotle Mexican Grill had a net margin of 1.74% and a return on equity of 5.54%. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the company earned $0.56 earnings per share. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, analysts forecast that Chipotle Mexican Grill, Inc. will post $6.82 EPS for the current fiscal year.

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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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