UPDATE: Chipotle (CMG) Higher; ITG Gets Positive on Q4 Trends

December 17, 2012 9:46 AM EST
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Price: $407.72 +0.62%

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    15 Buy, 19 Hold, 8 Sell

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    Up: 24 | Down: 17 | New: 14
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(Updated - December 17, 2012 10:27 AM EST)

Chipotle Mexican Grill (NYSE: CMG) pared some of its gains from earlier amid a few positive comments from ITG Majestic on how calendar fourth-quarter sales are faring.

According to the firm, Chipotle's fourth-quarter revs should be about $700 million, which compares with consensus estimates of $690.3 million. Comp sales are expected to be up 3.5 percent to 4.5 percent.

ITG got its estimate from 13 percent to 14 percent of unit growth coupled with low single-digit decelerating comps. The firm said there was a "slight uptick" in November average check trends.

Short interest on the stock is down from November, now at about 7.8 percent of float from 9.8 percent.

Shares are up 1.2 percent Monday.

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