Chipotle Mexican Grill (NYSE:CMG) Reaches New 52-Week Low – Here’s Why

Chipotle Mexican Grill, Inc. (NYSE:CMG) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $29.75 and last traded at $29.78, with a volume of 36913021 shares changing hands. The stock had previously closed at $30.48.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CMG. Zacks Research cut shares of Chipotle Mexican Grill from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 30th. Jefferies Financial Group cut their price target on shares of Chipotle Mexican Grill from $48.00 to $44.00 and set a “hold” rating on the stock in a research note on Monday, October 13th. UBS Group set a $45.00 price objective on shares of Chipotle Mexican Grill in a report on Friday, October 31st. Rothschild & Co Redburn raised shares of Chipotle Mexican Grill from a “neutral” rating to a “buy” rating and set a $55.00 price target for the company in a research report on Wednesday, September 3rd. Finally, Truist Financial cut their price objective on Chipotle Mexican Grill from $53.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $49.81.

Chipotle Mexican Grill Trading Up 3.7%

The firm has a market cap of $40.88 billion, a PE ratio of 27.39, a P/E/G ratio of 2.65 and a beta of 0.98. The business has a fifty day moving average price of $38.77 and a 200 day moving average price of $45.77.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings data on Wednesday, October 29th. The restaurant operator reported $0.29 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.29. Chipotle Mexican Grill had a net margin of 13.04% and a return on equity of 44.32%. The company had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter last year, the company earned $0.27 earnings per share. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, research analysts expect that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current fiscal year.

Institutional Trading of Chipotle Mexican Grill

Several institutional investors and hedge funds have recently made changes to their positions in CMG. Operose Advisors LLC purchased a new position in Chipotle Mexican Grill during the 2nd quarter worth approximately $25,000. Signature Resources Capital Management LLC purchased a new position in shares of Chipotle Mexican Grill during the second quarter worth approximately $28,000. Lavaca Capital LLC acquired a new position in shares of Chipotle Mexican Grill in the 2nd quarter valued at $28,000. Activest Wealth Management raised its position in Chipotle Mexican Grill by 109.3% in the 2nd quarter. Activest Wealth Management now owns 517 shares of the restaurant operator’s stock valued at $29,000 after purchasing an additional 270 shares during the last quarter. Finally, Oliver Lagore Vanvalin Investment Group purchased a new position in Chipotle Mexican Grill during the 2nd quarter worth $29,000. 91.30% of the stock is owned by hedge funds and other institutional investors.

About Chipotle Mexican Grill

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.