Shares of Chipotle Mexican Grill Inc. (NYSE:CMG) dropped 1.9% during mid-day trading on Tuesday . The company traded as low as $412.68 and last traded at $414.92, with a volume of 625,883 shares traded. The stock had previously closed at $423.02.

CMG has been the subject of a number of analyst reports. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $485.00 price objective on shares of Chipotle Mexican Grill in a research note on Monday, May 2nd. Vetr lowered shares of Chipotle Mexican Grill from a “strong-buy” rating to a “buy” rating and set a $481.35 target price for the company. in a research report on Monday, May 2nd. Robert W. Baird restated a “hold” rating on shares of Chipotle Mexican Grill in a research report on Monday, May 16th. Cleveland Research lowered shares of Chipotle Mexican Grill from a “buy” rating to a “neutral” rating in a research report on Thursday, May 26th. Finally, Maxim Group dropped their target price on shares of Chipotle Mexican Grill from $435.00 to $395.00 and set a “hold” rating for the company in a research report on Wednesday, June 1st. Six investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $488.66.

The company has a 50 day moving average of $409.94 and a 200 day moving average of $441.65. The company has a market capitalization of $12.09 billion and a P/E ratio of 59.81.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.87 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by $0.06. The business had revenue of $998.40 million for the quarter, compared to the consensus estimate of $1.06 billion. On average, equities research analysts expect that Chipotle Mexican Grill Inc. will post $3.87 earnings per share for the current year.

A hedge fund recently raised its stake in Chipotle Mexican Grill stock. I.G. Investment Management LTD. boosted its stake in shares of Chipotle Mexican Grill Inc. (NYSE:CMG) by 244.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,132 shares of the company’s stock after buying an additional 10,032 shares during the period. I.G. Investment Management LTD.’s holdings in Chipotle Mexican Grill were worth $6,781,000 as of its most recent SEC filing.

Chipotle Mexican Grill, Inc, 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. The Company operates approximately 1,970 Chipotle restaurants throughout the United States, over 10 in Canada, seven in England, four in France and one in Germany.

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