Chipotle Mexican Grill, Inc. (CMG) Lowered to Market Perform at BMO Capital Markets

BMO Capital Markets cut shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) from an outperform rating to a market perform rating in a research report sent to investors on Wednesday, July 19th, MarketBeat.com reports. BMO Capital Markets currently has $350.00 target price on the restaurant operator’s stock, down from their prior target price of $550.00.

Several other equities analysts have also recently commented on the company. Standpoint Research initiated coverage on Chipotle Mexican Grill in a research report on Wednesday, April 19th. They set a sell rating and a $420.00 target price for the company. Vetr upgraded Chipotle Mexican Grill from a hold rating to a buy rating and set a $498.87 price objective for the company in a report on Tuesday, May 30th. Argus upgraded Chipotle Mexican Grill from a hold rating to a buy rating and upped their price objective for the stock from $447.88 to $550.00 in a report on Thursday, May 25th. Wells Fargo & Company reiterated an outperform rating and issued a $505.00 price objective (up from $460.00) on shares of Chipotle Mexican Grill in a report on Wednesday, April 19th. Finally, Wedbush reiterated a neutral rating and issued a $450.00 price objective on shares of Chipotle Mexican Grill in a report on Wednesday, June 7th. Eight equities research analysts have rated the stock with a sell rating, twenty-two have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Chipotle Mexican Grill has a consensus rating of Hold and an average target price of $405.15.

Shares of Chipotle Mexican Grill (CMG) traded up 0.19% on Wednesday, hitting $350.50. The company’s stock had a trading volume of 1,741,057 shares. The firm has a market cap of $9.99 billion, a price-to-earnings ratio of 75.34 and a beta of 0.64. The stock’s 50-day moving average price is $405.60 and its 200-day moving average price is $432.38. Chipotle Mexican Grill has a 52 week low of $336.52 and a 52 week high of $499.00.

Chipotle Mexican Grill (NYSE:CMG) last posted its earnings results on Tuesday, July 25th. The restaurant operator reported $2.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.16 by $0.16. Chipotle Mexican Grill had a return on equity of 10.65% and a net margin of 3.17%. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the previous year, the business earned $0.87 earnings per share. The firm’s revenue was up 17.1% on a year-over-year basis. Equities analysts expect that Chipotle Mexican Grill will post $7.78 earnings per share for the current fiscal year.

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Large investors have recently made changes to their positions in the stock. Tufton Capital Management raised its stake in Chipotle Mexican Grill by 1.3% in the second quarter. Tufton Capital Management now owns 804 shares of the restaurant operator’s stock valued at $335,000 after buying an additional 10 shares during the last quarter. CAPROCK Group Inc. acquired a new stake in Chipotle Mexican Grill during the second quarter valued at approximately $223,000. Tokio Marine Asset Management Co. Ltd. raised its stake in Chipotle Mexican Grill by 4.0% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,991 shares of the restaurant operator’s stock valued at $3,325,000 after buying an additional 310 shares during the last quarter. CIBC Asset Management Inc raised its stake in Chipotle Mexican Grill by 1.1% in the second quarter. CIBC Asset Management Inc now owns 3,453 shares of the restaurant operator’s stock valued at $1,437,000 after buying an additional 36 shares during the last quarter. Finally, Harbour Capital Advisors LLC raised its stake in Chipotle Mexican Grill by 30,455.0% in the second quarter. Harbour Capital Advisors LLC now owns 82,804 shares of the restaurant operator’s stock valued at $199,000 after buying an additional 82,533 shares during the last quarter. 95.71% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Chipotle Mexican Grill (NYSE:CMG)

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