Chipotle Mexican Grill (NYSE:CMG) Sets New 12-Month Low After Analyst Downgrade

Key Points

• Chipotle Mexican Grill's stock price reached a new 52-week low at $39.23, significantly dropping from its previous close of $41.06, with a high trading volume of 35 million shares.
• Despite the decline, analysts maintain a generally positive outlook, with a consensus rating of "Moderate Buy" and a price target of around $59.93.
• Recent quarterly earnings showed a slight increase in revenue to $3.06 billion, although it fell short of the expected $3.11 billion, reflecting a 3% year-over-year growth.

Chipotle Mexican Grill, Inc. (NYSE:CMG - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Tuesday after Stifel Nicolaus lowered their price target on the stock from $65.00 to $60.00. Stifel Nicolaus currently has a buy rating on the stock. Chipotle Mexican Grill traded as low as $39.23 and last traded at $39.56, with a volume of 35047479 shares. The stock had previously closed at $41.06.

CMG has been the topic of a number of other research reports. BTIG Research reissued a "buy" rating and issued a $57.00 price target on shares of Chipotle Mexican Grill in a research note on Friday, September 5th. Redburn Atlantic initiated coverage on Chipotle Mexican Grill in a research note on Tuesday, June 10th. They issued a "neutral" rating and a $55.00 price target on the stock. Rothschild Redb raised Chipotle Mexican Grill from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 3rd. Barclays dropped their price target on Chipotle Mexican Grill from $55.00 to $53.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 24th. Finally, Wells Fargo & Company dropped their price target on Chipotle Mexican Grill from $65.00 to $60.00 and set an "overweight" rating on the stock in a research note on Thursday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $59.76.

Institutional Investors Weigh In On Chipotle Mexican Grill

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. American Trust lifted its holdings in Chipotle Mexican Grill by 4.8% in the 2nd quarter. American Trust now owns 14,853 shares of the restaurant operator's stock worth $834,000 after purchasing an additional 685 shares during the last quarter. Evolution Wealth Management Inc. acquired a new position in shares of Chipotle Mexican Grill during the second quarter worth approximately $34,000. Lavaca Capital LLC acquired a new position in shares of Chipotle Mexican Grill during the second quarter worth approximately $28,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Chipotle Mexican Grill by 79.8% during the second quarter. China Universal Asset Management Co. Ltd. now owns 20,961 shares of the restaurant operator's stock worth $1,177,000 after buying an additional 9,300 shares during the last quarter. Finally, Orion Porfolio Solutions LLC lifted its holdings in shares of Chipotle Mexican Grill by 145.2% during the second quarter. Orion Porfolio Solutions LLC now owns 225,082 shares of the restaurant operator's stock worth $12,638,000 after buying an additional 133,274 shares during the last quarter. 91.30% of the stock is currently owned by institutional investors and hedge funds.

Chipotle Mexican Grill Price Performance

The company has a market capitalization of $51.83 billion, a price-to-earnings ratio of 34.51, a price-to-earnings-growth ratio of 1.97 and a beta of 1.02. The business has a fifty day moving average price of $45.91 and a 200 day moving average price of $49.23.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.32 by $0.01. Chipotle Mexican Grill had a return on equity of 43.50% and a net margin of 13.32%.The company had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.11 billion. During the same period in the previous year, the company earned $0.34 earnings per share. The company's quarterly revenue was up 3.0% compared to the same quarter last year. As a group, sell-side analysts predict that Chipotle Mexican Grill, Inc. will post 1.29 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.