Chipotle Mexican Grill, Inc. (NYSE:CMG) Downgraded by Wedbush to Market Perform
Chipotle Mexican Grill, Inc. (NYSE:CMG) was downgraded by analysts at Wedbush from an “outperform” rating to a “market perform” rating in a report released on Friday. They presently have a $370.00 price target on the restaurant operator’s stock, down from their prior price target of $470.00. Wedbush’s price target would suggest a potential upside of 3.92% from the company’s previous close.
Other analysts also recently issued reports about the company. Nomura reduced their price objective on Chipotle Mexican Grill from $510.00 to $480.00 in a research report on Tuesday, June 20th. Buckingham Research restated a “buy” rating and issued a $547.00 price objective on shares of Chipotle Mexican Grill in a research report on Tuesday, April 25th. SunTrust Banks, Inc. upped their price objective on Chipotle Mexican Grill from $500.00 to $550.00 and gave the company a “buy” rating in a research report on Wednesday, April 26th. Argus upgraded Chipotle Mexican Grill from a “hold” rating to a “buy” rating and upped their price objective for the company from $447.88 to $550.00 in a research report on Thursday, May 25th. Finally, Vetr upgraded Chipotle Mexican Grill from a “hold” rating to a “buy” rating and set a $498.87 price objective on the stock in a research report on Tuesday, May 30th. Nine equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $432.13.
Shares of Chipotle Mexican Grill (NYSE CMG) traded down 1.8445% during mid-day trading on Friday, hitting $349.4825. The company’s stock had a trading volume of 1,665,982 shares. The company has a market cap of $10.02 billion, a PE ratio of 108.0985 and a beta of 0.64. Chipotle Mexican Grill has a 12-month low of $345.75 and a 12-month high of $499.00. The stock has a 50-day moving average of $427.08 and a 200-day moving average of $434.55. Chipotle Mexican Grill also was the target of some unusual options trading on Tuesday. Stock investors purchased 25,703 put options on the stock. This represents an increase of 307% compared to the average volume of 6,322 put options.
Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings data on Tuesday, April 25th. The restaurant operator reported $1.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.32. Chipotle Mexican Grill had a return on equity of 7.72% and a net margin of 2.31%. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the prior year, the business earned ($0.88) earnings per share. The business’s revenue was up 28.1% on a year-over-year basis. On average, equities research analysts forecast that Chipotle Mexican Grill will post $8.03 EPS for the current year.
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Hedge funds have recently bought and sold shares of the stock. FNY Managed Accounts LLC purchased a new stake in Chipotle Mexican Grill during the first quarter worth $107,000. Harbour Capital Advisors LLC purchased a new stake in Chipotle Mexican Grill during the first quarter worth $121,000. OLD Mutual Customised Solutions Proprietary Ltd. raised its stake in Chipotle Mexican Grill by 84.5% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 369 shares of the restaurant operator’s stock worth $164,000 after buying an additional 169 shares in the last quarter. Van ECK Associates Corp raised its stake in Chipotle Mexican Grill by 6.7% in the first quarter. Van ECK Associates Corp now owns 398 shares of the restaurant operator’s stock worth $177,000 after buying an additional 25 shares in the last quarter. Finally, Sphera Funds Management LTD. purchased a new stake in Chipotle Mexican Grill during the first quarter worth $178,000. Hedge funds and other institutional investors own 95.62% 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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