Cramer Says Chipotle Still Pricey After Selloff, May Need Another Turnaround

He argues the shares remain expensive despite a steep post-earnings slide, pointing to company-specific execution problems.

Overview

Cramer told students and viewers that Chipotle has probably settled down but still looks too expensive and could trade around 23–24 times earnings.
He said the company "stopped executing well" and suggested it may require another turnaround following its latest setback.
He characterized the weakness as specific to Chipotle rather than a broader restaurant slowdown, contrasting it with commentary from peers such as Brinker.
Chipotle shares are down 47% for the year and fell as much as 19% after last week’s third-quarter report, according to the coverage.
In recounting past history, Cramer credited the hiring of Brian Niccol from Taco Bell with helping to right the business after the 2015 slump.