Arcos Dorados (NYSE:ARCO) Lifted to “Hold” at Zacks Investment Research

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Zacks Investment Research upgraded shares of Arcos Dorados (NYSE:ARCO) from a sell rating to a hold rating in a research report released on Thursday, Zacks.com reports.

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. “

Other equities research analysts have also issued research reports about the company. JPMorgan Chase & Co. started coverage on Arcos Dorados in a research note on Wednesday, July 10th. They set an overweight rating and a $8.50 price target for the company. ValuEngine raised Arcos Dorados from a sell rating to a hold rating in a research note on Monday, October 7th. Finally, Bradesco Corretora raised Arcos Dorados from a neutral rating to an outperform rating and lifted their price target for the stock from $9.00 to $11.00 in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $9.75.

NYSE:ARCO traded up $0.18 during trading hours on Thursday, hitting $7.18. 358,565 shares of the company’s stock traded hands, compared to its average volume of 447,871. The company has a quick ratio of 0.66, a current ratio of 0.73 and a debt-to-equity ratio of 3.83. The business’s fifty day simple moving average is $6.67 and its two-hundred day simple moving average is $7.01. Arcos Dorados has a 52 week low of $5.92 and a 52 week high of $9.22. The firm has a market cap of $1.45 billion, a P/E ratio of 39.89 and a beta of 1.15.

Arcos Dorados (NYSE:ARCO) last issued its quarterly earnings results on Wednesday, August 7th. The restaurant operator reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.01). Arcos Dorados had a return on equity of 14.97% and a net margin of 1.97%. The firm had revenue of $723.75 million for the quarter, compared to the consensus estimate of $736.28 million. On average, analysts expect that Arcos Dorados will post 0.29 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Campbell & CO Investment Adviser LLC purchased a new position in shares of Arcos Dorados in the third quarter worth about $139,000. O Keefe Stevens Advisory Inc. increased its holdings in shares of Arcos Dorados by 2.0% in the third quarter. O Keefe Stevens Advisory Inc. now owns 485,468 shares of the restaurant operator’s stock worth $3,262,000 after buying an additional 9,734 shares during the period. Henry James International Management Inc. purchased a new position in shares of Arcos Dorados in the third quarter worth about $385,000. Macquarie Group Ltd. increased its holdings in shares of Arcos Dorados by 2.0% in the second quarter. Macquarie Group Ltd. now owns 5,817,128 shares of the restaurant operator’s stock worth $42,349,000 after buying an additional 112,092 shares during the period. Finally, River & Mercantile Asset Management LLP increased its holdings in shares of Arcos Dorados by 0.3% in the second quarter. River & Mercantile Asset Management LLP now owns 805,798 shares of the restaurant operator’s stock worth $5,874,000 after buying an additional 2,500 shares during the period. Hedge funds and other institutional investors own 38.09% of the company’s stock.

About Arcos Dorados

Arcos Dorados Holdings Inc operates as a franchisee of McDonald's restaurants. It has the exclusive right to own, operate, and grant franchises of McDonald's restaurants in 20 countries and 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, Trinidad and Tobago, Uruguay, the United States Virgin Islands of St.

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