Shares of Chipotle Mexican Grill Inc. (NYSE:CMG) dropped 1.5% on Monday . The stock traded as low as $408.05 and last traded at $408.41, with a volume of 1,006,900 shares trading hands. The stock had previously closed at $414.68.

CMG has been the subject of several analyst reports. Vetr cut shares of Chipotle Mexican Grill from a “buy” rating to a “hold” rating and set a $467.35 price target for the company. in a research note on Monday, May 9th. Robert W. Baird reissued a “hold” rating on shares of Chipotle Mexican Grill in a research note on Monday, May 16th. Cleveland Research cut shares of Chipotle Mexican Grill from a “buy” rating to a “neutral” rating in a research note on Thursday, May 26th. Maxim Group lowered their price objective 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. Finally, Stephens lowered their price objective on shares of Chipotle Mexican Grill from $425.00 to $375.00 and set an “underweight” rating for the company in a research report on Wednesday, June 1st. Six research analysts have rated the stock with a sell rating, twenty have issued a hold rating and fifteen have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $488.60.

The stock has a 50 day moving average of $409.77 and a 200-day moving average of $441.03. The firm has a market capitalization of $11.89 billion and a P/E ratio of 58.84.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.87 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by $0.06. The firm had revenue of $998.40 million for the quarter, compared to the consensus estimate of $1.06 billion. Analysts predict that Chipotle Mexican Grill Inc. will post $3.87 EPS for the current year.

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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