Arcos Dorados Holding Inc (NYSE:ARCO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.

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. “

Shares of Arcos Dorados Holding (NYSE:ARCO) traded down 1.36% during mid-day trading on Monday, hitting $7.25. The company’s stock had a trading volume of 687,069 shares. The company has a market cap of $1.53 billion, a PE ratio of 25.00 and a beta of 2.17. The stock has a 50-day moving average of $6.32 and a 200-day moving average of $5.82. Arcos Dorados Holding has a 12-month low of $2.97 and a 12-month high of $7.90.

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Arcos Dorados Holding (NYSE:ARCO) last announced its quarterly earnings data on Wednesday, March 15th. The company reported $0.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.04. Arcos Dorados Holding had a return on equity of 20.08% and a net margin of 2.19%. The firm had revenue of $807.20 million for the quarter, compared to analyst estimates of $798.30 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. Arcos Dorados Holding’s quarterly revenue was up 5.5% on a year-over-year basis. On average, equities research analysts forecast that Arcos Dorados Holding will post $0.29 EPS for the current year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in Arcos Dorados Holding during the fourth quarter worth approximately $8,304,000. Kora Management LP purchased a new stake in Arcos Dorados Holding during the fourth quarter worth approximately $8,082,000. GSA Capital Partners LLP increased its stake in Arcos Dorados Holding by 34.7% in the fourth quarter. GSA Capital Partners LLP now owns 207,245 shares of the company’s stock worth $1,119,000 after buying an additional 53,336 shares during the last quarter. A.R.T. Advisors LLC purchased a new stake in Arcos Dorados Holding during the fourth quarter worth approximately $252,000. Finally, Renaissance Technologies LLC increased its stake in Arcos Dorados Holding by 144.2% in the fourth quarter. Renaissance Technologies LLC now owns 238,440 shares of the company’s stock worth $1,288,000 after buying an additional 140,800 shares during the last quarter. 36.27% of the stock is currently owned by hedge funds and other institutional investors.

About Arcos Dorados Holding

Arcos Dorados Holdings Inc is a McDonald’s franchisee. The Company operates or franchises over 2,140 McDonald’s-branded restaurants. It divides its operations into four geographical divisions: Brazil; the Caribbean division, consisting of Aruba, Colombia, Curacao, French Guiana, 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 (NOLAD), consisting of Costa Rica, Mexico and Panama, and the South Latin America division (SLAD), consisting of Argentina, Chile, Ecuador, Peru and Uruguay.

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