Chipotle Mexican Grill (NYSE:CMG) Downgraded to Hold Rating by Argus

Argus lowered shares of Chipotle Mexican Grill (NYSE:CMG) from a buy rating to a hold rating in a research report sent to investors on Monday, MarketBeat.com reports.

CMG has been the subject of several other reports. KeyCorp decreased their price target on shares of Chipotle Mexican Grill from $60.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. Truist Financial lowered their price target on shares of Chipotle Mexican Grill from $74.00 to $61.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Wedbush cut their price objective on Chipotle Mexican Grill from $69.00 to $64.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. Robert W. Baird dropped their target price on Chipotle Mexican Grill from $62.00 to $56.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. Finally, Stephens reduced their price target on Chipotle Mexican Grill from $54.00 to $49.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. Nine investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $61.78.

Chipotle Mexican Grill Stock Performance

Shares of NYSE:CMG opened at $50.88 on Monday. The firm has a 50 day simple moving average of $50.05 and a 200 day simple moving average of $56.21. Chipotle Mexican Grill has a 52 week low of $44.46 and a 52 week high of $69.26. The company has a market cap of $68.96 billion, a PE ratio of 45.83, a price-to-earnings-growth ratio of 2.04 and a beta of 1.27.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Wednesday, April 23rd. The restaurant operator reported $0.29 EPS for the quarter, topping the consensus estimate of $0.28 by $0.01. The business had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.98 billion. Chipotle Mexican Grill had a return on equity of 42.92% and a net margin of 13.56%. Chipotle Mexican Grill’s revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the firm posted $13.37 earnings per share. On average, equities analysts predict that Chipotle Mexican Grill will post 1.29 earnings per share for the current year.

Hedge Funds Weigh In On Chipotle Mexican Grill

Several large investors have recently bought and sold shares of CMG. Tortoise Investment Management LLC raised its position in shares of Chipotle Mexican Grill by 14.0% during the fourth quarter. Tortoise Investment Management LLC now owns 1,436 shares of the restaurant operator’s stock valued at $87,000 after buying an additional 176 shares during the last quarter. Traynor Capital Management Inc. grew its position in Chipotle Mexican Grill by 2.5% during the fourth quarter. Traynor Capital Management Inc. now owns 7,522 shares of the restaurant operator’s stock worth $454,000 after buying an additional 181 shares in the last quarter. BTC Capital Management Inc. increased its stake in Chipotle Mexican Grill by 1.9% during the fourth quarter. BTC Capital Management Inc. now owns 9,969 shares of the restaurant operator’s stock valued at $601,000 after acquiring an additional 184 shares during the period. Revolve Wealth Partners LLC raised its holdings in Chipotle Mexican Grill by 4.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 4,804 shares of the restaurant operator’s stock valued at $290,000 after acquiring an additional 214 shares in the last quarter. Finally, Confluence Wealth Services Inc. lifted its position in shares of Chipotle Mexican Grill by 4.2% in the 4th quarter. Confluence Wealth Services Inc. now owns 5,391 shares of the restaurant operator’s stock worth $310,000 after acquiring an additional 218 shares during the period. 91.31% of the stock is currently owned by institutional investors and hedge funds.

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.