Chipotle Mexican Grill (CMG) Upgraded to “Market Perform” by Citigroup

Chipotle Mexican Grill (NYSE:CMG) was upgraded by equities researchers at Citigroup to a “market perform” rating in a research note issued on Friday, The Fly reports. The analysts noted that the move was a valuation call.

Other equities research analysts also recently issued research reports about the company. Telsey Advisory Group downgraded Chipotle Mexican Grill from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $370.00 to $330.00 in a report on Wednesday, October 25th. Deutsche Bank set a $240.00 target price on Chipotle Mexican Grill and gave the stock a “sell” rating in a report on Wednesday, October 25th. SunTrust Banks set a $355.00 target price on Chipotle Mexican Grill and gave the stock a “buy” rating in a report on Wednesday, October 25th. Wedbush reaffirmed a “hold” rating and set a $290.00 target price on shares of Chipotle Mexican Grill in a report on Wednesday, October 25th. Finally, Canaccord Genuity reaffirmed a “hold” rating and set a $325.00 target price on shares of Chipotle Mexican Grill in a report on Wednesday, November 29th. Five analysts have rated the stock with a sell rating, twenty-six have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $359.26.

Chipotle Mexican Grill (CMG) traded up $6.34 during trading on Friday, hitting $343.87. The company had a trading volume of 1,152,974 shares, compared to its average volume of 1,020,000. Chipotle Mexican Grill has a 12-month low of $263.00 and a 12-month high of $499.00. The firm has a market capitalization of $9,710.00, a P/E ratio of 66.64, a price-to-earnings-growth ratio of 2.02 and a beta of 0.50.

Chipotle Mexican Grill (NYSE:CMG) last released its 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 return on equity of 11.80% and a net margin of 3.37%. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the firm earned $0.56 EPS. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. equities analysts expect that Chipotle Mexican Grill will post 6.58 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Chipotle Mexican Grill by 2.3% in the second quarter. Vanguard Group Inc. now owns 2,783,059 shares of the restaurant operator’s stock valued at $1,158,031,000 after buying an additional 63,636 shares in the last quarter. Carmignac Gestion increased its position 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 buying an additional 319,875 shares in the last quarter. Renaissance Technologies LLC increased its position 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 buying an additional 280,300 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Chipotle Mexican Grill by 196.5% in the third quarter. Principal Financial Group Inc. now owns 267,881 shares of the restaurant operator’s stock valued at $82,462,000 after buying an additional 177,530 shares in the last quarter. Finally, Brown Advisory Inc. increased its position in shares of Chipotle Mexican Grill by 1.4% in the third quarter. Brown Advisory Inc. now owns 216,827 shares of the restaurant operator’s stock valued at $66,745,000 after buying an additional 3,069 shares in the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

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About Chipotle Mexican Grill

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.

The Fly

Analyst Recommendations for Chipotle Mexican Grill (NYSE:CMG)

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