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

Chipotle Mexican Grill, Inc. (NYSE:CMG) shares gapped down before the market opened on Wednesday after Stifel Nicolaus lowered their price target on the stock from $70.00 to $68.00. The stock had previously closed at $59.02, but opened at $56.02. Stifel Nicolaus currently has a buy rating on the stock. Chipotle Mexican Grill shares last traded at $56.19, with a volume of 2,391,802 shares.

A number of other equities research analysts have also recently weighed in on the company. Citigroup upped their price target on Chipotle Mexican Grill from $69.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday. Wells Fargo & Company lowered their target price on Chipotle Mexican Grill from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Wednesday. Raymond James cut their price target on Chipotle Mexican Grill from $72.00 to $69.00 and set an “outperform” rating for the company in a research note on Tuesday, January 28th. Royal Bank of Canada reissued an “outperform” rating and issued a $75.00 price objective on shares of Chipotle Mexican Grill in a research note on Tuesday, January 28th. Finally, Evercore ISI raised their target price on shares of Chipotle Mexican Grill from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, December 5th. Ten investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.31.

Insider Buying and Selling

In related news, insider Laurie Schalow sold 4,404 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $65.01, for a total value of $286,304.04. Following the transaction, the insider now directly owns 185,792 shares of the company’s stock, valued at approximately $12,078,337.92. This trade represents a 2.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.02% of the company’s stock.

Institutional Investors Weigh In On Chipotle Mexican Grill

A number of institutional investors have recently added to or reduced their stakes in CMG. Transcendent Capital Group LLC lifted its stake in shares of Chipotle Mexican Grill by 950.0% in the 3rd quarter. Transcendent Capital Group LLC now owns 525 shares of the restaurant operator’s stock valued at $30,000 after purchasing an additional 475 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Chipotle Mexican Grill during the third quarter valued at approximately $32,000. Capital Performance Advisors LLP acquired a new stake in shares of Chipotle Mexican Grill in the third quarter worth $33,000. Global Trust Asset Management LLC acquired a new stake in shares of Chipotle Mexican Grill in the third quarter worth $35,000. Finally, Sound Income Strategies LLC raised its stake in shares of Chipotle Mexican Grill by 1,110.0% in the 4th quarter. Sound Income Strategies LLC now owns 605 shares of the restaurant operator’s stock valued at $36,000 after acquiring an additional 555 shares during the period. Hedge funds and other institutional investors own 91.31% of the company’s stock.

Chipotle Mexican Grill Stock Performance

The firm has a market cap of $78.41 billion, a price-to-earnings ratio of 53.56, a price-to-earnings-growth ratio of 2.07 and a beta of 1.27. The company’s fifty day moving average is $60.36 and its two-hundred day moving average is $57.84.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Tuesday, February 4th. The restaurant operator reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.01. Chipotle Mexican Grill had a return on equity of 43.20% and a net margin of 13.51%. As a group, analysts forecast that Chipotle Mexican Grill, Inc. will post 1.11 earnings per share for the current fiscal year.

Chipotle Mexican Grill Company Profile

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.