Chipotle Mexican Grill (NYSE:CMG) Shares Gap Down After Analyst Downgrade

Chipotle Mexican Grill, Inc. (NYSE:CMG) gapped down prior to trading on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $44.00 to $40.00. The stock had previously closed at $39.76, but opened at $31.27. JPMorgan Chase & Co. currently has a neutral rating on the stock. Chipotle Mexican Grill shares last traded at $32.9650, with a volume of 29,878,658 shares changing hands.

CMG has been the subject of a number of other research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Chipotle Mexican Grill in a report on Wednesday, October 8th. Rothschild Redb raised shares of Chipotle Mexican Grill from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 3rd. Piper Sandler upgraded shares of Chipotle Mexican Grill from a “neutral” rating to an “overweight” rating and dropped their target price for the company from $53.00 to $50.00 in a research report on Tuesday, August 12th. Barclays dropped their target price on shares of Chipotle Mexican Grill from $43.00 to $38.00 and set an “equal weight” rating for the company in a research report on Thursday. Finally, BTIG Research dropped their target price on shares of Chipotle Mexican Grill from $57.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $50.97.

Hedge Funds Weigh In On Chipotle Mexican Grill

Several institutional investors and hedge funds have recently added to or reduced their stakes in CMG. Operose Advisors LLC acquired a new stake in shares of Chipotle Mexican Grill during the 2nd quarter valued at $25,000. Signature Resources Capital Management LLC acquired a new stake in shares of Chipotle Mexican Grill during the 2nd quarter valued at $28,000. Lavaca Capital LLC acquired a new stake in shares of Chipotle Mexican Grill during the 2nd quarter valued at $28,000. Cloud Capital Management LLC acquired a new stake in shares of Chipotle Mexican Grill during the 1st quarter valued at $25,000. Finally, Activest Wealth Management boosted its holdings in shares of Chipotle Mexican Grill by 109.3% during the 2nd quarter. Activest Wealth Management now owns 517 shares of the restaurant operator’s stock valued at $29,000 after acquiring an additional 270 shares in the last quarter. Institutional investors own 91.30% of the company’s stock.

Chipotle Mexican Grill Stock Performance

The company has a market cap of $43.73 billion, a price-to-earnings ratio of 28.86, a P/E/G ratio of 2.65 and a beta of 0.99. The company has a fifty day moving average of $40.60 and a two-hundred day moving average of $46.79.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings data on Wednesday, October 29th. The restaurant operator reported $0.29 earnings per share for the quarter, meeting the consensus estimate of $0.29. Chipotle Mexican Grill had a return on equity of 44.32% and a net margin of 13.04%.The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter last year, the business posted $0.27 EPS. Chipotle Mexican Grill’s revenue for the quarter was up 7.5% on a year-over-year basis. Equities analysts expect that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current fiscal year.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. It sells food and beverages through offering burritos, burrito bowls, quesadillas, tacos, and salads. The company also provides delivery and related services its app and website. It has operations in the United States, Canada, France, Germany, and the United Kingdom.