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

Chipotle Mexican Grill, Inc. (NYSE:CMG - Get Free Report)'s share price gapped down before the market opened on Thursday after Wells Fargo & Company lowered their price target on the stock from $65.00 to $60.00. The stock had previously closed at $52.78, but opened at $46.20. Wells Fargo & Company currently has an overweight rating on the stock. Chipotle Mexican Grill shares last traded at $46.21, with a volume of 35,743,874 shares.

CMG has been the subject of several other reports. Evercore ISI reduced their target price on Chipotle Mexican Grill from $64.00 to $57.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Royal Bank Of Canada cut their target price on 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. BMO Capital Markets raised Chipotle Mexican Grill from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $56.00 to $65.00 in a report on Friday, July 18th. Argus lowered Chipotle Mexican Grill from a "buy" rating to a "hold" rating in a report on Monday, April 28th. Finally, TD Cowen dropped their price objective on Chipotle Mexican Grill from $61.00 to $58.00 and set a "buy" rating for the company in a research report on Wednesday. Nine equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $61.14.

Insider Buying and Selling at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 113,875 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $49.70, for a total transaction of $5,659,587.50. Following the transaction, the insider directly owned 109,815 shares in the company, valued at $5,457,805.50. This trade represents a 50.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.81% of the company's stock.

Institutional Trading of Chipotle Mexican Grill

A number of institutional investors have recently made changes to their positions in the business. Signature Resources Capital Management LLC purchased a new stake in Chipotle Mexican Grill during the 2nd quarter worth approximately $28,000. Cloud Capital Management LLC purchased a new position in shares of Chipotle Mexican Grill during the first quarter worth about $25,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in Chipotle Mexican Grill in the second quarter valued at about $29,000. 1248 Management LLC acquired a new stake in shares of Chipotle Mexican Grill during the 1st quarter valued at approximately $27,000. Finally, Saudi Central Bank purchased a new position in shares of Chipotle Mexican Grill during the 1st quarter worth approximately $27,000. Institutional investors and hedge funds own 91.31% of the company's stock.

Chipotle Mexican Grill Trading Down 12.4%

The company has a market capitalization of $62.28 billion, a PE ratio of 40.88, a PEG ratio of 2.62 and a beta of 1.08. The company's 50 day moving average price is $52.98 and its 200-day moving average price is $52.78.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.01. The firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.11 billion. Chipotle Mexican Grill had a net margin of 13.59% and a return on equity of 43.29%. The company's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.34 EPS. As a group, analysts predict that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current year.

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.