Chipotle Mexican Grill (NYSE:CMG) Stock Price Down 2.2%

Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) were down 2.2% during trading on Tuesday . The stock traded as low as $54.77 and last traded at $54.82. Approximately 2,519,100 shares were traded during trading, a decline of 83% from the average daily volume of 14,999,651 shares. The stock had previously closed at $56.08.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CMG. Citigroup lowered their price target on shares of Chipotle Mexican Grill from $71.00 to $69.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Oppenheimer decreased their price target on Chipotle Mexican Grill from $70.00 to $65.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Barclays lowered their price objective on Chipotle Mexican Grill from $58.00 to $55.00 and set an “equal weight” rating for the company in a research report on Thursday, July 25th. Argus lifted their target price on shares of Chipotle Mexican Grill from $73.36 to $77.76 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Finally, Stephens reiterated an “equal weight” rating and set a $61.00 price target on shares of Chipotle Mexican Grill in a report on Tuesday, August 13th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, Chipotle Mexican Grill currently has an average rating of “Moderate Buy” and a consensus price target of $62.36.

Chipotle Mexican Grill Price Performance

The firm has a market cap of $72.83 billion, a P/E ratio of 56.97, a price-to-earnings-growth ratio of 2.34 and a beta of 1.24. The firm’s 50 day moving average is $55.32 and its 200 day moving average is $80.78.

Chipotle Mexican Grill (NYSE:CMG) last released its earnings results on Wednesday, July 24th. The restaurant operator reported $0.34 EPS for the quarter, topping the consensus estimate of $0.32 by $0.02. Chipotle Mexican Grill had a return on equity of 44.01% and a net margin of 13.23%. The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the previous year, the company posted $12.65 earnings per share. The company’s revenue for the quarter was up 18.2% compared to the same quarter last year. As a group, analysts expect that Chipotle Mexican Grill, Inc. will post 1.08 EPS for the current year.

Insiders Place Their Bets

In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 17,394 shares of Chipotle Mexican Grill stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $54.68, for a total value of $951,103.92. Following the completion of the sale, the insider now owns 358,300 shares of the company’s stock, valued at approximately $19,591,844. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC purchased a new stake in Chipotle Mexican Grill during the 2nd quarter valued at $186,000. NCP Inc. purchased a new stake in Chipotle Mexican Grill during the second quarter valued at $135,000. Brown Financial Advisors bought a new position in Chipotle Mexican Grill in the second quarter valued at about $804,000. Gordian Capital Singapore Pte Ltd boosted its position in Chipotle Mexican Grill by 2,880.3% in the second quarter. Gordian Capital Singapore Pte Ltd now owns 17,822 shares of the restaurant operator’s stock worth $1,117,000 after purchasing an additional 17,224 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Chipotle Mexican Grill during the 2nd quarter valued at about $497,000. Institutional investors own 91.31% of the company’s stock.

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.