Bank of America Corporation downgraded shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) from a neutral rating to an underperform rating in a research report sent to investors on Wednesday, MarketBeat reports. The firm currently has $285.00 price objective on the restaurant operator’s stock, down from their previous price objective of $390.00.

Several other equities analysts have also recently weighed in on CMG. UBS AG dropped their price target on shares of Chipotle Mexican Grill from $460.00 to $445.00 and set a neutral rating on the stock in a research report on Tuesday, June 27th. Canaccord Genuity reaffirmed a hold rating and issued a $440.00 price target on shares of Chipotle Mexican Grill in a research report on Tuesday, June 20th. Zacks Investment Research raised shares of Chipotle Mexican Grill from a sell rating to a hold rating in a research report on Friday, August 4th. Instinet reaffirmed a neutral rating and issued a $480.00 price target (down previously from $510.00) on shares of Chipotle Mexican Grill in a research report on Tuesday, June 20th. Finally, Wedbush reaffirmed a neutral rating and issued a $290.00 price target (down previously from $350.00) on shares of Chipotle Mexican Grill in a research report on Wednesday, October 11th. Eight analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of Hold and an average price target of $375.66.

Chipotle Mexican Grill (NYSE CMG) traded down 0.16% during mid-day trading on Wednesday, reaching $324.76. The company had a trading volume of 973,364 shares. The company has a market capitalization of $9.26 billion, a P/E ratio of 69.81 and a beta of 0.60. The stock has a 50 day moving average price of $312.87 and a 200 day moving average price of $390.81. Chipotle Mexican Grill has a one year low of $295.11 and a one year high of $499.00.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results 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. Chipotle Mexican Grill had a net margin of 3.17% and a return on equity of 10.65%. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the firm earned $0.87 EPS. The firm’s revenue for the quarter was up 17.1% compared to the same quarter last year. On average, equities analysts expect that Chipotle Mexican Grill will post $7.35 earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently bought and sold shares of the company. Covenant Asset Management LLC lifted its holdings in shares of 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 worth $910,000 after acquiring an additional 10 shares during the last quarter. Tufton Capital Management lifted its holdings in shares of Chipotle Mexican Grill by 1.3% during the 2nd quarter. Tufton Capital Management now owns 804 shares of the restaurant operator’s stock worth $335,000 after acquiring an additional 10 shares during the last quarter. Cutter & CO Brokerage Inc. lifted its holdings in shares of Chipotle Mexican Grill by 1.3% during the 2nd quarter. Cutter & CO Brokerage Inc. now owns 763 shares of the restaurant operator’s stock worth $317,000 after acquiring an additional 10 shares during the last quarter. Simmons Bank lifted its holdings in shares of Chipotle Mexican Grill by 1.1% during the 2nd quarter. Simmons Bank now owns 1,257 shares of the restaurant operator’s stock worth $523,000 after acquiring an additional 14 shares during the last quarter. Finally, Highland Capital Management LLC lifted its holdings in shares of Chipotle Mexican Grill by 0.6% during the 2nd quarter. Highland Capital Management LLC now owns 2,961 shares of the restaurant operator’s stock worth $1,232,000 after acquiring an additional 18 shares during the last quarter. 90.06% of the stock is owned by institutional investors.

Chipotle Mexican Grill Company Profile

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.

Analyst Recommendations for Chipotle Mexican Grill (NYSE:CMG)

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