Arcos Dorados Holding Inc (NASDAQ:ARCO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Friday, Market Beat.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, Curacao, 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. “

Arcos Dorados Holding (NASDAQ:ARCO) traded down 5.80% during trading on Friday, reaching $2.60. The company’s stock had a trading volume of 432,903 shares. The stock’s 50 day moving average is $3.20 and its 200-day moving average is $3.51. Arcos Dorados Holding has a 52 week low of $2.57 and a 52 week high of $6.60.

Arcos Dorados Holding (NASDAQ:ARCO) last released its earnings results on Wednesday, November 4th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by $0.21. The business had revenue of $753.70 million for the quarter, compared to the consensus estimate of $748 million. The business’s quarterly revenue was down 16.6% compared to the same quarter last year. On average, equities research analysts expect that Arcos Dorados Holding will post ($0.29) earnings per share for the current fiscal year.

An institutional investor recently bought a new position in Arcos Dorados Holding stock. Acadian Asset Management acquired a new stake in Arcos Dorados Holding Inc (NASDAQ:ARCO) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 51,580 shares of the company’s stock, valued at approximately $160,000.

Separately, Citigroup Inc. raised Arcos Dorados Holding from a “sell” rating to a “neutral” rating in a research note on Monday, December 7th.

Arcos Dorados Holdings Inc. is a McDonald’s franchisee. The Company, through its wholly owned and majority owned subsidiaries, operates and franchises McDonald’s restaurants in the food service industry. The Company manages its business as distinct geographic segments and its operations are divided into four geographical divisions: the Brazil; the Caribbean division, consisting of Aruba, Curacao, Colombia, French Guyana, 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 (NASDAQ:ARCO), consisting of Costa Rica, Mexico and Panama, and the South Latin America division (SLAD), consisting of Argentina, Chile, Ecuador, Peru and Uruguay. The Company operates McDonald’s-branded restaurants under two different operating formats: Company-operated restaurants and franchised restaurants. The Company operated or franchised approximately 2,121 McDonald’s-branded restaurants.

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