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Arcos Dorados Holding (NASDAQ:ARCO) was downgraded by equities research analysts at Bank of America to a “neutral” rating in a research note issued to investors on Tuesday.

Shares of Arcos Dorados Holding (NASDAQ:ARCO) opened at 7.20 on Tuesday. Arcos Dorados Holding has a one year low of $7.16 and a one year high of $12.67. The stock’s 50-day moving average is $9.31 and its 200-day moving average is $9.52.

Arcos Dorados Holding (NASDAQ:ARCO) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.47) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.07) by $0.40. The company had revenue of $917.90 million for the quarter, compared to the consensus estimate of $951.90 million. During the same quarter in the prior year, the company posted $0.04 earnings per share. The company’s quarterly revenue was down 7.2% on a year-over-year basis. On average, analysts predict that Arcos Dorados Holding will post $-0.23 earnings per share for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at Citigroup Inc. downgraded shares of Arcos Dorados Holding from a “neutral” rating to a “sell” rating in a research note on Thursday, August 21st. Separately, analysts at Zacks downgraded shares of Arcos Dorados Holding from a “neutral” rating to an “underperform” rating in a research note on Thursday, August 7th. They now have a $7.10 price target on the stock. Finally, analysts at HSBC downgraded shares of Arcos Dorados Holding from a “neutral” rating to an “underweight” rating in a research note on Tuesday, July 22nd. They now have a $7.00 price target on the stock, down previously from $9.00. Three analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $8.37.

Arcos Dorados Holdings Inc is an Argentina-based company engaged in the operation of McDonald’s franchisees.

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