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Chipotle Mexican Grill, Inc. (NYSE:CMG) Lowered to “Underperform” at Cowen and Company

September 17, 2017 11:47 AM
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Chipotle Mexican Grill, Inc. (NYSE:CMG) Lowered to “Underperform” at Cowen and Company

Chipotle Mexican Grill, Inc. (NYSE:CMG) was downgraded by Cowen and Company from a “market perform” rating to an “underperform” rating in a research report issued to clients and investors on Friday, September 8th, Marketbeat Ratings reports. They presently have a $250.00 target price on the restaurant operator’s stock, down from their previous target price of $370.00. Cowen and Company’s price target would indicate a potential downside of 20.15% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the company. ValuEngine downgraded Chipotle Mexican Grill from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Robert W. Baird reaffirmed a “hold” rating and set a $385.00 price target on shares of Chipotle Mexican Grill in a report on Friday, September 1st. Credit Suisse Group reaffirmed a “neutral” rating and set a $320.00 price target (down from $335.00) on shares of Chipotle Mexican Grill in a report on Friday, August 25th. Standpoint Research raised Chipotle Mexican Grill from an “underperform” rating to a “hold” rating in a report on Friday, August 25th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and set a $510.00 price target on shares of Chipotle Mexican Grill in a report on Thursday, August 24th. Six investment analysts have rated the stock with a sell rating, twenty-three have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $399.45.

Chipotle Mexican Grill (NYSE:CMG) opened at 313.09 on Friday. Chipotle Mexican Grill has a 12 month low of $296.00 and a 12 month high of $499.00. The company has a 50-day moving average of $320.64 and a 200-day moving average of $409.05. The stock has a market cap of $8.93 billion, a PE ratio of 67.30 and a beta of 0.64.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings data on Tuesday, July 25th. The restaurant operator reported $2.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.16 by $0.16. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.19 billion. Chipotle Mexican Grill had a return on equity of 10.65% and a net margin of 3.17%. The company’s revenue was up 17.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.87 earnings per share. On average, equities analysts forecast that Chipotle Mexican Grill will post $7.60 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the stock. Covenant Asset Management LLC boosted its position in Chipotle Mexican Grill by 0.5% during the 2nd quarter. Covenant Asset Management LLC now owns 2,187 shares of the restaurant operator’s stock valued at $910,000 after purchasing an additional 10 shares during the period. Tufton Capital Management boosted its position in Chipotle Mexican Grill by 1.3% during the 2nd quarter. Tufton Capital Management now owns 804 shares of the restaurant operator’s stock valued at $335,000 after purchasing an additional 10 shares during the period. Cutter & CO Brokerage Inc. boosted its position in Chipotle Mexican Grill by 1.3% during the 2nd quarter. Cutter & CO Brokerage Inc. now owns 763 shares of the restaurant operator’s stock valued at $317,000 after purchasing an additional 10 shares during the period. Pacer Advisors Inc. boosted its position in Chipotle Mexican Grill by 2.4% during the 1st quarter. Pacer Advisors Inc. now owns 469 shares of the restaurant operator’s stock valued at $209,000 after purchasing an additional 11 shares during the period. Finally, Capital Analysts LLC boosted its position in Chipotle Mexican Grill by 2.9% during the 1st quarter. Capital Analysts LLC now owns 427 shares of the restaurant operator’s stock valued at $190,000 after purchasing an additional 12 shares during the period. Institutional investors and hedge funds own 90.32% of the company’s stock.

Chipotle Mexican Grill, Inc (Chipotle), 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. As of December 31, 2016, the Company managed its operations and restaurants based on 11 regions.

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Source: ledgergazette.com

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