Chipotle Mexican Grill (NYSE:CMG) Downgraded by ValuEngine

ValuEngine lowered shares of Chipotle Mexican Grill (NYSE:CMG) from a strong-buy rating to a buy rating in a research report released on Thursday morning, ValuEngine reports.

Several other research firms have also recently commented on CMG. Jefferies Financial Group cut shares of Chipotle Mexican Grill from a buy rating to a hold rating and raised their target price for the company from $600.00 to $700.00 in a research note on Thursday, April 11th. Mizuho raised their target price on shares of Chipotle Mexican Grill from $420.00 to $500.00 and gave the company an underperform rating in a research note on Wednesday, July 24th. Evercore ISI initiated coverage on shares of Chipotle Mexican Grill in a research note on Tuesday, June 11th. They set an outperform rating and a $825.00 target price on the stock. JPMorgan Chase & Co. raised their target price on shares of Chipotle Mexican Grill from $650.00 to $705.00 and gave the company a neutral rating in a research note on Wednesday, July 24th. Finally, Stephens raised their target price on shares of Chipotle Mexican Grill from $650.00 to $700.00 and gave the company an equal weight rating in a research note on Wednesday, July 24th. Seven research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fifteen have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $700.26.

Shares of CMG stock traded up $1.78 during trading hours on Thursday, reaching $792.21. The stock had a trading volume of 402,430 shares, compared to its average volume of 550,456. The company has a quick ratio of 1.48, a current ratio of 1.52 and a debt-to-equity ratio of 1.65. Chipotle Mexican Grill has a twelve month low of $383.20 and a twelve month high of $811.95. The company’s 50-day simple moving average is $748.41. The company has a market cap of $21.91 billion, a price-to-earnings ratio of 87.44, a PEG ratio of 3.19 and a beta of 0.72.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings data on Tuesday, July 23rd. The restaurant operator reported $3.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.68 by $0.31. Chipotle Mexican Grill had a net margin of 4.80% and a return on equity of 21.50%. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter last year, the company earned $2.87 EPS. The company’s revenue for the quarter was up 13.2% compared to the same quarter last year. Analysts predict that Chipotle Mexican Grill will post 13.2 EPS for the current year.

In other Chipotle Mexican Grill news, insider Scott Boatwright sold 1,805 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $740.22, for a total value of $1,336,097.10. Following the completion of the transaction, the insider now directly owns 8,869 shares in the company, valued at $6,565,011.18. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Pershing Square Capital Manage sold 80,000 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $726.15, for a total transaction of $58,092,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 156,156 shares of company stock valued at $118,298,966. Corporate insiders own 2.21% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC raised its stake in Chipotle Mexican Grill by 9.6% in the fourth quarter. Geode Capital Management LLC now owns 309,980 shares of the restaurant operator’s stock worth $133,605,000 after buying an additional 27,247 shares in the last quarter. MML Investors Services LLC raised its stake in Chipotle Mexican Grill by 11.4% in the fourth quarter. MML Investors Services LLC now owns 843 shares of the restaurant operator’s stock worth $364,000 after buying an additional 86 shares in the last quarter. Municipal Employees Retirement System of Michigan bought a new position in Chipotle Mexican Grill in the fourth quarter worth approximately $281,000. APG Asset Management N.V. bought a new position in Chipotle Mexican Grill in the fourth quarter worth approximately $1,246,000. Finally, Nordea Investment Management AB raised its stake in Chipotle Mexican Grill by 5.4% in the fourth quarter. Nordea Investment Management AB now owns 1,676 shares of the restaurant operator’s stock worth $724,000 after buying an additional 86 shares in the last quarter. Institutional investors own 94.99% of the company’s stock.

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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