Zacks Investment Research upgraded shares of Arcos Dorados Holdings Inc. (NYSE:ARCO) from a hold rating to a buy rating in a report released on Friday morning. They currently have $12.00 price objective on the restaurant operator’s stock.
According to Zacks, “Arcos Dorados Holdings Inc. operates as a franchisee of McDonald’s with its operations divided in Brazil; North Latin America division; South Latin America and the Caribbean division. It also runs quick service restaurants in Latin America and the Caribbean. It has operations in territories in Latin America and the Caribbean, including Argentina, Aruba, Brazil, Chile, Colombia, Costa Rica, Curaçao, Ecuador, French Guiana, Guadeloupe, Martinique, Mexico, Panama, Peru, Puerto Rico, Uruguay, the U.S. Virgin Islands of St. Croix and St. Thomas, and Venezuela. Arcos Dorados Holdings Inc. is headquartered in Buenos Aires, Argentina. “
A number of other equities research analysts also recently weighed in on the company. BidaskClub downgraded Arcos Dorados Holdings from a strong-buy rating to a buy rating in a research report on Friday, September 1st. Citigroup Inc. upgraded Arcos Dorados Holdings from a neutral rating to a buy rating and upped their target price for the stock from $10.10 to $10.60 in a research report on Monday, August 28th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $10.87.
Shares of Arcos Dorados Holdings (NYSE ARCO) traded down $0.25 during midday trading on Friday, hitting $10.25. The stock had a trading volume of 391,400 shares, compared to its average volume of 627,251. The firm has a market capitalization of $2,216.26, a P/E ratio of 27.63 and a beta of 2.07. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.88 and a current ratio of 0.99. Arcos Dorados Holdings has a fifty-two week low of $5.20 and a fifty-two week high of $10.80.
Arcos Dorados Holdings (NYSE:ARCO) last released its earnings results on Wednesday, August 9th. The restaurant operator reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.12). The firm had revenue of $798.70 million during the quarter. Arcos Dorados Holdings had a return on equity of 20.04% and a net margin of 2.51%. equities research analysts forecast that Arcos Dorados Holdings will post 0.38 earnings per share for the current year.
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A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN lifted its position in Arcos Dorados Holdings by 2.4% in the second quarter. Wells Fargo & Company MN now owns 24,201 shares of the restaurant operator’s stock worth $180,000 after purchasing an additional 570 shares during the period. Moors & Cabot Inc. increased its holdings in shares of Arcos Dorados Holdings by 4.9% in the second quarter. Moors & Cabot Inc. now owns 21,250 shares of the restaurant operator’s stock valued at $159,000 after buying an additional 1,000 shares in the last quarter. Engineers Gate Manager LP increased its holdings in shares of Arcos Dorados Holdings by 8.3% in the second quarter. Engineers Gate Manager LP now owns 61,724 shares of the restaurant operator’s stock valued at $460,000 after buying an additional 4,738 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of Arcos Dorados Holdings by 5.2% in the second quarter. Royal Bank of Canada now owns 107,989 shares of the restaurant operator’s stock valued at $804,000 after buying an additional 5,360 shares in the last quarter. Finally, KCG Holdings Inc. increased its holdings in shares of Arcos Dorados Holdings by 27.7% in the first quarter. KCG Holdings Inc. now owns 32,895 shares of the restaurant operator’s stock valued at $265,000 after buying an additional 7,134 shares in the last quarter. Hedge funds and other institutional investors own 36.93% of the company’s stock.
Arcos Dorados Holdings Company Profile
Arcos Dorados Holdings Inc is a McDonald’s franchisee. The Company operates or franchises over 2,140 McDonald’s-branded restaurants. It divides its operations into four geographical divisions: Brazil; the Caribbean division, consisting of Aruba, Colombia, Curacao, French Guiana, Guadeloupe, Martinique, Puerto Rico, Trinidad and Tobago, the United States Virgin Islands of Saint Croix and Saint Thomas, and Venezuela; the North Latin America division (NOLAD), consisting of Costa Rica, Mexico and Panama, and the South Latin America division (SLAD), consisting of Argentina, Chile, Ecuador, Peru and Uruguay.
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