Chipotle Mexican Grill, Inc. (CMG) Lowered to “Underperform” at Bank of America Corporation

Bank of America Corporation downgraded shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) from a neutral rating to an underperform rating in a report released on Wednesday. They currently have $285.00 price target on the restaurant operator’s stock, down from their prior price target of $390.00.

Other analysts have also recently issued reports about the company. UBS AG cut their target price on Chipotle Mexican Grill from $460.00 to $445.00 and set a neutral rating on the stock in a research note on Tuesday, June 27th. BTIG Research reissued a neutral rating on shares of Chipotle Mexican Grill in a research note on Friday, July 21st. BidaskClub cut Chipotle Mexican Grill from a hold rating to a sell rating in a research note on Tuesday, June 20th. Wells Fargo & Company cut Chipotle Mexican Grill from an outperform rating to a market perform rating and cut their target price for the stock from $470.00 to $375.00 in a research note on Wednesday, July 19th. They noted that the move was a valuation call. Finally, Tigress Financial reaffirmed a neutral rating on shares of Chipotle Mexican Grill in a research report on Saturday, July 22nd. Eight investment analysts have rated the stock with a sell rating, twenty-two have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Chipotle Mexican Grill presently has an average rating of Hold and a consensus target price of $386.97.

Shares of Chipotle Mexican Grill (CMG) traded up 2.21% on Wednesday, hitting $325.27. The stock had a trading volume of 918,984 shares. The firm has a 50 day moving average of $312.36 and a 200-day moving average of $392.20. The firm has a market capitalization of $9.27 billion, a price-to-earnings ratio of 69.92 and a beta of 0.60. Chipotle Mexican Grill has a 1-year low of $295.11 and a 1-year high of $499.00.

Chipotle Mexican Grill (NYSE:CMG) last posted its earnings results on Tuesday, July 25th. The restaurant operator reported $2.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.16 by $0.16. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Chipotle Mexican Grill had a return on equity of 10.65% and a net margin of 3.17%. Chipotle Mexican Grill’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period last year, the firm earned $0.87 earnings per share. Equities analysts predict that Chipotle Mexican Grill will post $7.42 earnings per share for the current year.

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A number of institutional investors have recently modified their holdings of CMG. Carmignac Gestion boosted its holdings in Chipotle Mexican Grill by 162.5% in the 2nd quarter. Carmignac Gestion now owns 516,751 shares of the restaurant operator’s stock worth $215,020,000 after buying an additional 319,875 shares during the period. Renaissance Technologies LLC boosted its holdings in Chipotle Mexican Grill by 169.1% in the 2nd quarter. Renaissance Technologies LLC now owns 446,100 shares of the restaurant operator’s stock worth $185,622,000 after buying an additional 280,300 shares during the period. American Century Companies Inc. boosted its holdings in Chipotle Mexican Grill by 59.8% in the 2nd quarter. American Century Companies Inc. now owns 563,698 shares of the restaurant operator’s stock worth $234,555,000 after buying an additional 210,872 shares during the period. APG Asset Management N.V. boosted its holdings in Chipotle Mexican Grill by 255.5% in the 2nd quarter. APG Asset Management N.V. now owns 277,125 shares of the restaurant operator’s stock worth $115,312,000 after buying an additional 199,170 shares during the period. Finally, Numeric Investors LLC boosted its holdings in Chipotle Mexican Grill by 8,366.4% in the 2nd quarter. Numeric Investors LLC now owns 110,910 shares of the restaurant operator’s stock worth $46,150,000 after buying an additional 109,600 shares during the period. 90.06% of the stock is owned by institutional investors.

Chipotle Mexican Grill Company Profile

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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