Chipotle Mexican Grill, Inc. (NYSE:CMG) was downgraded by equities researchers at Cowen and Company from a “market perform” rating to an “underperform” rating in a research report issued to clients and investors on Friday, MarketBeat reports. They presently have a $250.00 target price on the restaurant operator’s stock, down from their prior target price of $370.00. Cowen and Company’s target price suggests a potential downside of 16.67% from the company’s previous close.

CMG has been the topic of a number of other research reports. Goldman Sachs Group, Inc. (The) dropped their price objective on Chipotle Mexican Grill from $440.00 to $375.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 25th. Maxim Group reissued a “buy” rating and issued a $435.00 price objective (down previously from $470.00) on shares of Chipotle Mexican Grill in a research note on Wednesday, July 26th. Credit Suisse Group reissued a “neutral” rating and issued a $320.00 price objective (down previously from $335.00) on shares of Chipotle Mexican Grill in a research note on Friday, August 25th. Wells Fargo & Company reissued an “outperform” rating and issued a $470.00 price objective (down previously from $530.00) on shares of Chipotle Mexican Grill in a research note on Monday, June 26th. Finally, Deutsche Bank AG reissued a “sell” rating on shares of Chipotle Mexican Grill in a research note on Tuesday, June 20th. Seven research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $397.43.

Chipotle Mexican Grill (NYSE CMG) traded down 5.43% during mid-day trading on Friday, reaching $300.03. The company’s stock had a trading volume of 2,091,102 shares. The company has a market capitalization of $8.55 billion, a PE ratio of 64.49 and a beta of 0.64. The firm has a 50 day moving average price of $325.65 and a 200-day moving average price of $413.16. Chipotle Mexican Grill has a 1-year low of $296.00 and a 1-year high of $499.00.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings data on Tuesday, July 25th. The restaurant operator reported $2.32 EPS for the quarter, topping the Zacks’ 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 company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the business earned $0.87 EPS. The company’s quarterly revenue was up 17.1% compared to the same quarter last year. On average, equities analysts predict that Chipotle Mexican Grill will post $7.61 EPS for the current fiscal year.

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Institutional investors and hedge funds have recently modified their holdings of the stock. FNY Managed Accounts LLC bought a new position in Chipotle Mexican Grill during the first quarter valued at about $107,000. Korea Investment CORP increased its stake in Chipotle Mexican Grill by 140.2% during the second quarter. Korea Investment CORP now owns 269 shares of the restaurant operator’s stock valued at $112,000 after acquiring an additional 157 shares during the period. Harbour Capital Advisors LLC bought a new position in Chipotle Mexican Grill during the first quarter valued at about $121,000. OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in Chipotle Mexican Grill by 84.5% during the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 369 shares of the restaurant operator’s stock valued at $164,000 after acquiring an additional 169 shares during the period. Finally, Van ECK Associates Corp increased its stake in Chipotle Mexican Grill by 6.7% during the first quarter. Van ECK Associates Corp now owns 398 shares of the restaurant operator’s stock valued at $177,000 after acquiring an additional 25 shares during the period. Hedge funds and other institutional investors own 90.32% 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.

Analyst Recommendations for Chipotle Mexican Grill (NYSE:CMG)

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