Chipotle Mexican Grill, Inc. (CMG) Downgraded to “Market Perform” at Wedbush

Chipotle Mexican Grill, Inc. (NYSE:CMG) was downgraded by investment analysts at Wedbush from an “outperform” rating to a “market perform” rating in a research note issued to investors on Friday, July 21st. They currently have a $370.00 price target on the restaurant operator’s stock, down from their previous price target of $470.00. Wedbush’s target price suggests a potential upside of 18.88% from the company’s previous close.

Several other analysts have also commented on the stock. BTIG Research reaffirmed a “neutral” rating on shares of Chipotle Mexican Grill in a research report on Friday, July 21st. Cowen and Company reaffirmed a “market perform” rating and set a $440.00 price target on shares of Chipotle Mexican Grill in a research report on Friday, July 21st. Robert W. Baird reaffirmed a “neutral” rating and set a $425.00 price target (down previously from $490.00) on shares of Chipotle Mexican Grill in a research report on Friday, July 21st. Canaccord Genuity reduced their price target on shares of Chipotle Mexican Grill from $440.00 to $400.00 and set a “hold” rating on the stock in a research report on Friday, July 21st. Finally, Argus lowered shares of Chipotle Mexican Grill from a “buy” rating to a “hold” rating and lifted their price target for the company from $352.96 to $365.05 in a research report on Friday, July 21st. Seven analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $405.15.

Shares of Chipotle Mexican Grill (NYSE:CMG) traded down 2.10% during mid-day trading on Friday, reaching $311.24. The company had a trading volume of 1,216,339 shares. Chipotle Mexican Grill has a one year low of $311.01 and a one year high of $499.00. The stock has a market capitalization of $8.87 billion, a P/E ratio of 66.90 and a beta of 0.62. The firm has a 50 day moving average of $360.68 and a 200-day moving average of $423.62.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Tuesday, July 25th. The restaurant operator reported $2.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.16 by $0.16. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Chipotle Mexican Grill had a return on equity of 10.65% and a net margin of 3.17%. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.87 EPS. Analysts forecast that Chipotle Mexican Grill will post $7.73 EPS for the current fiscal year.

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Hedge funds have recently added to or reduced their stakes in the company. FNY Managed Accounts LLC bought a new stake in Chipotle Mexican Grill during the first quarter worth approximately $107,000. Korea Investment CORP increased its stake in Chipotle Mexican Grill by 140.2% in the second quarter. Korea Investment CORP now owns 269 shares of the restaurant operator’s stock worth $112,000 after buying an additional 157 shares during the period. Harbour Capital Advisors LLC acquired a new stake in Chipotle Mexican Grill during the first quarter worth approximately $121,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in Chipotle Mexican Grill by 15.7% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 406 shares of the restaurant operator’s stock worth $140,000 after buying an additional 55 shares during the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. increased 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 during the last quarter. Institutional investors own 98.37% 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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