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

Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) gapped down prior to trading on Wednesday after Citigroup lowered their price target on the stock from $71.00 to $70.00. The stock had previously closed at $60.49, but opened at $57.36. Citigroup currently has a buy rating on the stock. Chipotle Mexican Grill shares last traded at $56.24, with a volume of 3,606,166 shares trading hands.

Other equities research analysts also recently issued research reports about the company. Stifel Nicolaus restated a “buy” rating and set a $70.00 target price on shares of Chipotle Mexican Grill in a research report on Wednesday, August 14th. TD Cowen boosted their target price on Chipotle Mexican Grill from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday. Robert W. Baird boosted their target price on Chipotle Mexican Grill from $62.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday. Guggenheim boosted their target price on Chipotle Mexican Grill from $54.50 to $55.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $65.00 price objective on shares of Chipotle Mexican Grill in a report on Monday, September 30th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, Chipotle Mexican Grill presently has a consensus rating of “Moderate Buy” and an average target price of $64.47.

Insider Buying and Selling at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 17,394 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $54.68, for a total value of $951,103.92. Following the sale, the insider now owns 358,300 shares in the company, valued at $19,591,844. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 15,750 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $55.02, for a total value of $866,565.00. Following the sale, the insider now owns 473,514 shares in the company, valued at $26,052,740.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Curtis E. Garner sold 17,394 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $54.68, for a total value of $951,103.92. Following the transaction, the insider now owns 358,300 shares in the company, valued at approximately $19,591,844. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,684 shares of company stock worth $2,817,127 over the last 90 days. Company insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CMG. Quent Capital LLC grew its stake in shares of Chipotle Mexican Grill by 2.0% in the first quarter. Quent Capital LLC now owns 206 shares of the restaurant operator’s stock valued at $599,000 after acquiring an additional 4 shares in the last quarter. First National Bank of Hutchinson grew its stake in Chipotle Mexican Grill by 1.1% during the first quarter. First National Bank of Hutchinson now owns 378 shares of the restaurant operator’s stock worth $1,099,000 after buying an additional 4 shares in the last quarter. Pacific Center for Financial Services grew its stake in Chipotle Mexican Grill by 8.0% during the first quarter. Pacific Center for Financial Services now owns 54 shares of the restaurant operator’s stock worth $157,000 after buying an additional 4 shares in the last quarter. Gilbert & Cook Inc. grew its stake in Chipotle Mexican Grill by 0.5% during the first quarter. Gilbert & Cook Inc. now owns 1,033 shares of the restaurant operator’s stock worth $3,003,000 after buying an additional 5 shares in the last quarter. Finally, Moloney Securities Asset Management LLC grew its stake in Chipotle Mexican Grill by 3.0% during the first quarter. Moloney Securities Asset Management LLC now owns 170 shares of the restaurant operator’s stock worth $494,000 after buying an additional 5 shares in the last quarter. Institutional investors own 91.31% of the company’s stock.

Chipotle Mexican Grill Stock Up 0.1 %

The stock has a market capitalization of $76.38 billion, a price-to-earnings ratio of 51.91, a P/E/G ratio of 2.41 and a beta of 1.25. The business’s 50 day simple moving average is $57.18 and its 200-day simple moving average is $81.14.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.82 billion. Chipotle Mexican Grill had a net margin of 13.51% and a return on equity of 43.20%. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.23 earnings per share. On average, analysts expect that Chipotle Mexican Grill, Inc. will post 1.1 earnings per share for the current 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.