Published On: Fri, Sep 9th, 2016

Chipotle Mexican Grill Inc. (CMG) Downgraded to Overweight at Piper Jaffray Cos.

Chipotle Mexican Grill Inc. (NYSE:CMG) was downgraded by analysts at Piper Jaffray Cos. to an “overweight” rating in a research note issued to investors on Thursday. They presently have a $483.00 price target on the stock, down from their prior price target of $590.00. Piper Jaffray Cos.’s price objective would suggest a potential upside of 10.70% from the stock’s previous close.
CMG has been the topic of several other reports. Vetr downgraded shares of Chipotle Mexican Grill from a “buy” rating to a “hold” rating and set a $436.99 target price on the stock. in a research note on Monday, August 29th. JPMorgan Chase & Co. raised shares of Chipotle Mexican Grill from a “neutral” rating to an “overweight” rating and set a $510.00 target price on the stock in a research note on Sunday, July 24th. Credit Agricole SA raised shares of Chipotle Mexican Grill from an “underperform” rating to an “outperform” rating and set a $460.00 target price on the stock in a research note on Tuesday, July 19th. Cleveland Research downgraded shares of Chipotle Mexican Grill from a “buy” rating to a “neutral” rating in a research note on Thursday, May 26th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $550.00 target price on shares of Chipotle Mexican Grill in a research note on Thursday, September 1st. Six investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and fourteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $484.47.
Chipotle Mexican Grill (NYSE:CMG) traded down 0.49% during midday trading on Thursday, hitting $436.31. 1,236,815 shares of the stock traded hands. Chipotle Mexican Grill has a one year low of $384.77 and a one year high of $757.00. The stock has a market cap of $12.70 billion, a price-to-earnings ratio of 62.86 and a beta of 0.59. The company has a 50-day moving average price of $410.46 and a 200 day moving average price of $438.87.

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Chipotle Mexican Grill (NYSE:CMG) last announced its earnings results on Thursday, July 21st. The company reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.93 by $0.06. The company had revenue of $998.40 million for the quarter, compared to analysts’ expectations of $1.06 billion. Equities research analysts anticipate that Chipotle Mexican Grill will post $3.87 earnings per share for the current year.
A number of hedge funds and institutional investors have made changes to their positions in the stock. Pagoda Asset Management LP acquired a new position in shares of Chipotle Mexican Grill during the fourth quarter worth $5,468,000. Cubist Systematic Strategies LLC boosted its position in shares of Chipotle Mexican Grill by 2,204.4% in the fourth quarter. Cubist Systematic Strategies LLC now owns 7,374 shares of the company’s stock worth $3,538,000 after buying an additional 7,054 shares during the period. Mason Street Advisors LLC boosted its position in shares of Chipotle Mexican Grill by 1.1% in the fourth quarter. Mason Street Advisors LLC now owns 4,074 shares of the company’s stock worth $1,955,000 after buying an additional 45 shares during the period. Matrix Capital Management Company LP acquired a new position in shares of Chipotle Mexican Grill during the fourth quarter worth $28,791,000. Finally, Psagot Investment House Ltd. acquired a new position in shares of Chipotle Mexican Grill during the fourth quarter worth $5,584,000. 97.00% of the stock is currently owned by hedge funds and other institutional investors.
About Chipotle Mexican Grill
Chipotle Mexican Grill, Inc, 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. The Company operates approximately 1,970 Chipotle restaurants throughout the United States, over 10 in Canada, seven in England, four in France and one in Germany.

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