TheStreet's founder and Action Alerts PLUS Portfolio Manager Jim Cramer said Chipotle (CMG - Get Report) has lost its way.

"Their conference calls are always the same now - which is 'we're fixing things,'" Cramer noted. "When you have a high multiple stock, I don't want to hear that you're fixing things."

Cramer points to the success of rival McDonald's (MCD - Get Report) .

Watch More with TheStreet: