Chipotle Mexican Grill, Inc. (CMG) Cut to “Underperform” at Cowen and Company
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.
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