Arcos Dorados (NYSE:ARCO) Rating Increased to Hold at Zacks Investment Research

Arcos Dorados (NYSE:ARCO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Monday, 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, CuraƧao, 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. “

Separately, JPMorgan Chase & Co. started coverage on Arcos Dorados in a research note on Friday, July 2nd. They set a “buy” rating and a $8.50 target price for the company. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $6.78.

Shares of ARCO stock opened at $5.50 on Monday. The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 4.36. The stock has a market cap of $1.15 billion, a P/E ratio of -37.26 and a beta of 1.36. The stock has a 50 day simple moving average of $5.71 and a 200 day simple moving average of $5.74. Arcos Dorados has a 1 year low of $3.86 and a 1 year high of $6.82.

Arcos Dorados (NYSE:ARCO) last released its earnings results on Tuesday, August 10th. The restaurant operator reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.02. Arcos Dorados had a negative return on equity of 17.51% and a negative net margin of 1.38%.

Several large investors have recently made changes to their positions in ARCO. JPMorgan Chase & Co. increased its holdings in shares of Arcos Dorados by 779.4% during the first quarter. JPMorgan Chase & Co. now owns 3,306,066 shares of the restaurant operator’s stock worth $16,828,000 after buying an additional 2,930,101 shares in the last quarter. Amundi acquired a new stake in Arcos Dorados in the second quarter valued at $2,388,000. BlackRock Inc. increased its holdings in Arcos Dorados by 10.4% in the first quarter. BlackRock Inc. now owns 2,781,931 shares of the restaurant operator’s stock valued at $14,160,000 after purchasing an additional 262,561 shares during the period. Amundi Asset Management US Inc. acquired a new stake in Arcos Dorados in the first quarter valued at $1,273,000. Finally, Nuveen Asset Management LLC increased its holdings in Arcos Dorados by 1.3% in the first quarter. Nuveen Asset Management LLC now owns 19,133,175 shares of the restaurant operator’s stock valued at $97,387,000 after purchasing an additional 247,775 shares during the period. Institutional investors own 35.16% of the company’s stock.

About Arcos Dorados

Arcos Dorados Holdings, Inc engages in the operation of restaurants. The firm operates and franchises McDonald’s restaurants in the food services industry through its subsidiaries. It operates through the following geographical segments: Brazil, Caribbean Division, North Latin America division (NOLAD), and South Latin America division (SLAD).

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