Short Interest in Arcos Dorados Holding Inc (NYSE:ARCO) Grows By 68.9%

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Arcos Dorados Holding Inc (NYSE:ARCO) saw a significant growth in short interest during the month of July. As of July 15th, there was short interest totalling 2,230,000 shares, a growth of 68.9% from the June 30th total of 1,320,000 shares. Based on an average trading volume of 1,220,000 shares, the days-to-cover ratio is currently 1.8 days. Currently, 1.8% of the shares of the company are sold short.

A number of brokerages recently commented on ARCO. Bradesco Corretora raised Arcos Dorados from a “neutral” rating to an “outperform” rating and increased their price target for the company from $4.00 to $6.00 in a research report on Thursday, July 2nd. ValuEngine raised Arcos Dorados from a “hold” rating to a “buy” rating in a research report on Thursday, May 14th. Morgan Stanley began coverage on Arcos Dorados in a research report on Friday, June 26th. They set an “overweight” rating and a $6.00 price target for the company. JPMorgan Chase & Co. increased their price target on Arcos Dorados from $5.00 to $5.50 and gave the company an “overweight” rating in a research report on Tuesday, June 2nd. Finally, Zacks Investment Research raised Arcos Dorados from a “sell” rating to a “hold” rating in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $6.50.

Shares of NYSE ARCO opened at $4.65 on Friday. The stock has a fifty day simple moving average of $4.53 and a two-hundred day simple moving average of $5.03. Arcos Dorados has a 1-year low of $2.92 and a 1-year high of $8.29. The firm has a market cap of $961.55 million, a price-to-earnings ratio of 67.31 and a beta of 1.68. The company has a current ratio of 0.63, a quick ratio of 0.57 and a debt-to-equity ratio of 2.37.

Arcos Dorados (NYSE:ARCO) last announced its quarterly earnings data on Wednesday, May 13th. The restaurant operator reported ($0.26) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.30). Arcos Dorados had a net margin of 0.54% and a return on equity of 4.29%. The firm had revenue of $617.50 million for the quarter, compared to the consensus estimate of $564.02 million. Analysts forecast that Arcos Dorados will post -0.74 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in ARCO. HighTower Advisors LLC bought a new position in Arcos Dorados during the first quarter valued at $38,000. Capital Asset Advisory Services LLC bought a new position in shares of Arcos Dorados in the first quarter worth $46,000. Marks Group Wealth Management Inc bought a new position in shares of Arcos Dorados in the first quarter worth $77,000. Bank of America Corp DE boosted its holdings in shares of Arcos Dorados by 30.3% in the fourth quarter. Bank of America Corp DE now owns 10,315 shares of the restaurant operator’s stock worth $84,000 after acquiring an additional 2,400 shares during the period. Finally, Quattro Financial Advisors LLC bought a new position in shares of Arcos Dorados in the second quarter worth $99,000. 36.95% of the stock is owned by institutional investors and hedge funds.

Arcos Dorados Company Profile

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, CuraƧao, 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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