Chipotle Mexican Grill (NYSE:CMG) Sets New 12-Month Low - What's Next?

Key Points

• Chipotle Mexican Grill's stock reached a new 52-week low of $41.18 during trading, closing at $41.40.
• Analysts have recently downgraded the stock from "buy" to "hold," with price targets ranging from $54.00 to $60.00.
• The company reported a 3.0% year-over-year revenue increase with earnings slightly surpassing analyst expectations at $0.33 per share.

Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Get Free Report) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $41.18 and last traded at $41.40, with a volume of 1889046 shares trading hands. The stock had previously closed at $41.44.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CMG shares. Argus lowered shares of Chipotle Mexican Grill from a "buy" rating to a "hold" rating in a research note on Monday, April 28th. Raymond James Financial reissued an "outperform" rating and set a $60.00 price objective (down previously from $62.00) on shares of Chipotle Mexican Grill in a research note on Thursday, July 24th. Stephens reissued an "equal weight" rating and set a $60.00 price objective on shares of Chipotle Mexican Grill in a research note on Thursday, July 24th. JPMorgan Chase & Co. dropped their price objective on shares of Chipotle Mexican Grill from $58.00 to $54.00 and set a "neutral" rating on the stock in a research note on Thursday, May 29th. Finally, Royal Bank Of Canada dropped their price objective on shares of Chipotle Mexican Grill from $65.00 to $60.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Nine equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Chipotle Mexican Grill currently has an average rating of "Moderate Buy" and a consensus price target of $60.71.

Chipotle Mexican Grill Stock Up 0.5%

The stock has a market cap of $55.87 billion, a PE ratio of 37.19, a price-to-earnings-growth ratio of 2.11 and a beta of 1.05. The firm has a 50 day moving average price of $51.21 and a 200 day moving average price of $51.57.

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

Insider Activity

In related news, insider Roger E. Theodoredis sold 113,875 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $49.70, for a total transaction of $5,659,587.50. Following the completion of the transaction, the insider directly owned 109,815 shares in the company, valued at $5,457,805.50. The trade was a 50.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.81% of the company's stock.

Institutional Trading of Chipotle Mexican Grill

Institutional investors and hedge funds have recently modified their holdings of the stock. Cloud Capital Management LLC acquired a new position in Chipotle Mexican Grill during the first quarter worth about $25,000. Saudi Central Bank acquired a new position in Chipotle Mexican Grill during the first quarter worth about $27,000. 1248 Management LLC acquired a new position in Chipotle Mexican Grill during the first quarter worth about $27,000. Signature Resources Capital Management LLC acquired a new position in Chipotle Mexican Grill during the second quarter worth about $28,000. Finally, HighMark Wealth Management LLC boosted its holdings in Chipotle Mexican Grill by 173.4% in the 1st quarter. HighMark Wealth Management LLC now owns 585 shares of the restaurant operator's stock valued at $29,000 after purchasing an additional 371 shares during the last quarter. Hedge funds and other institutional investors own 91.31% of the company's stock.

About Chipotle Mexican Grill

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.