Chipotle Mexican Grill (CMG) Downgraded by BMO Capital Markets to Underperform

Chipotle Mexican Grill (NYSE:CMG) was downgraded by BMO Capital Markets from a “market perform” rating to an “underperform” rating in a report released on Thursday, Briefing.com Automated Import reports. They currently have a $620.00 price objective on the restaurant operator’s stock, down from their previous price objective of $675.00. BMO Capital Markets’ price objective indicates a potential downside of 12.19% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on the stock. Telsey Advisory Group reissued an “outperform” rating and set a $700.00 target price (up previously from $600.00) on shares of Chipotle Mexican Grill in a report on Thursday, April 18th. Zacks Investment Research raised shares of Chipotle Mexican Grill from a “hold” rating to a “buy” rating and set a $597.00 target price on the stock in a report on Thursday, January 31st. Loop Capital boosted their target price on shares of Chipotle Mexican Grill to $630.00 and gave the company a “positive” rating in a report on Thursday, February 7th. Wedbush raised shares of Chipotle Mexican Grill from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $500.00 to $640.00 in a report on Friday, March 22nd. Finally, Piper Jaffray Companies boosted their target price on shares of Chipotle Mexican Grill from $590.00 to $661.00 and gave the company an “overweight” rating in a report on Tuesday, February 12th. Six analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $641.82.

NYSE:CMG opened at $706.04 on Thursday. The company has a current ratio of 1.44, a quick ratio of 1.41 and a debt-to-equity ratio of 1.69. The company has a market capitalization of $19.82 billion, a P/E ratio of 77.93, a P/E/G ratio of 2.87 and a beta of 0.64. Chipotle Mexican Grill has a 12 month low of $383.20 and a 12 month high of $727.00.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings results on Wednesday, April 24th. The restaurant operator reported $3.40 EPS for the quarter, topping analysts’ consensus estimates of $3.01 by $0.39. The company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Chipotle Mexican Grill had a net margin of 4.08% and a return on equity of 19.78%. Chipotle Mexican Grill’s revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.13 EPS. As a group, sell-side analysts expect that Chipotle Mexican Grill will post 13 EPS for the current year.

In other news, CFO Jack Hartung sold 1,188 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $680.00, for a total value of $807,840.00. Following the transaction, the chief financial officer now owns 37,472 shares of the company’s stock, valued at $25,480,960. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last ninety days, insiders sold 12,658 shares of company stock worth $8,180,702. Insiders own 2.21% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Piedmont Investment Advisors Inc. increased its holdings in shares of Chipotle Mexican Grill by 5.8% in the fourth quarter. Piedmont Investment Advisors Inc. now owns 2,126 shares of the restaurant operator’s stock worth $918,000 after purchasing an additional 117 shares during the period. Massachusetts Financial Services Co. MA grew its position in Chipotle Mexican Grill by 101.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 307,230 shares of the restaurant operator’s stock worth $132,659,000 after acquiring an additional 154,428 shares in the last quarter. Columbus Circle Investors grew its position in Chipotle Mexican Grill by 10.5% in the first quarter. Columbus Circle Investors now owns 90,220 shares of the restaurant operator’s stock worth $64,084,000 after acquiring an additional 8,573 shares in the last quarter. Trillium Asset Management LLC grew its position in Chipotle Mexican Grill by 6.8% in the fourth quarter. Trillium Asset Management LLC now owns 5,348 shares of the restaurant operator’s stock worth $2,309,000 after acquiring an additional 339 shares in the last quarter. Finally, Capital Wealth Management LLC purchased a new position in Chipotle Mexican Grill in the first quarter worth $234,000. 91.26% of the stock is currently owned by hedge funds and other institutional investors.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill, Inc, together with its subsidiaries, operates Chipotle Mexican Grill restaurants. As of December 31, 2018, it operated 2,491 restaurants, including 2,452 Chipotle restaurants in the United States, 37 Chipotle restaurants internationally, and two non-Chipotle restaurants. The company was founded in 1993 and is headquartered in Newport Beach, California.

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Analyst Recommendations for Chipotle Mexican Grill (NYSE:CMG)

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