Chipotle Stock Has Cratered. Time to Buy?
After a rough year for the stock, the latest quarterly update from Chipotle pushed shares even lower. As of this writing, the market has knocked Chipotle Mexican Grill (NYSE: CMG) down more than 20% since its Oct. 29 report, and the year-to-date return sits deep in the red, with shares down nearly 50%.
The move comes as management lowered its already disappointing full-year outlook for comparable-restaurant sales, putting the forecast in negative territory. As far as the top line goes for Q3, the fast-casual restaurant operator did post growth. But it was the composition of that growth -- and the guidance -- that ultimately spooked investors.
Image source: Getty Images.
Source Fool.com
Chipotle Mexican Grill Inc. Stock
€28.40
-2.910%
The stock is an absolute favorite of our community with 62 Buy predictions and no Sell predictions.
With a target price of 39 € there is a positive potential of 37.32% for Chipotle Mexican Grill Inc. compared to the current price of 28.4 €.
