Chipotle Mexican Grill, Inc. (NYSE:CMG) was downgraded by equities researchers at Vetr from a “hold” rating to a “sell” rating in a research note issued to investors on Friday, April 14th. They presently have a $437.68 price objective on the restaurant operator’s stock. Vetr‘s price objective suggests a potential downside of 9.71% from the stock’s previous close.
Several other research firms also recently weighed in on CMG. Jefferies Group LLC restated a “sell” rating and set a $300.00 price objective on shares of Chipotle Mexican Grill in a report on Wednesday, April 12th. Credit Suisse Group AG restated a “hold” rating and set a $375.00 price objective on shares of Chipotle Mexican Grill in a report on Friday, April 7th. Wedbush restated a “neutral” rating and set a $400.00 price objective on shares of Chipotle Mexican Grill in a report on Monday, March 27th. Maxim Group restated a “hold” rating on shares of Chipotle Mexican Grill in a report on Wednesday, March 15th. Finally, Deutsche Bank AG set a $280.00 price objective on shares of Chipotle Mexican Grill and gave the stock a “sell” rating in a report on Tuesday, March 14th. Seven equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $442.64.
Chipotle Mexican Grill (NYSE:CMG) last released its earnings results on Tuesday, April 25th. The restaurant operator reported $1.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.32. Chipotle Mexican Grill had a net margin of 0.59% and a return on equity of 2.60%. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the previous year, the company earned ($0.88) EPS. Chipotle Mexican Grill’s quarterly revenue was up 28.1% compared to the same quarter last year.
A number of hedge funds have recently added to or reduced their stakes in CMG. BlackRock Institutional Trust Company N.A. raised its stake in Chipotle Mexican Grill by 0.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 796,250 shares of the restaurant operator’s stock valued at $337,212,000 after buying an additional 6,019 shares during the last quarter. California State Teachers Retirement System increased its position in shares of Chipotle Mexican Grill by 0.8% in the third quarter. California State Teachers Retirement System now owns 60,308 shares of the restaurant operator’s stock valued at $25,540,000 after buying an additional 500 shares during the period. Discovery Capital Management LLC CT acquired a new position in shares of Chipotle Mexican Grill during the fourth quarter valued at approximately $95,773,000. Marcus Capital LLC increased its position in shares of Chipotle Mexican Grill by 16.0% in the third quarter. Marcus Capital LLC now owns 7,425 shares of the restaurant operator’s stock valued at $3,144,000 after buying an additional 1,025 shares during the period. Finally, Norges Bank purchased a new position in Chipotle Mexican Grill during the fourth quarter worth about $105,799,000. Institutional investors own 96.62% of the company’s stock.
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.
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