Arcos Dorados Holdings Inc. (ARCO) Raised to “Strong-Buy” at BidaskClub
Arcos Dorados Holdings Inc. (NYSE:ARCO) was upgraded by BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Thursday.
ARCO has been the topic of several other reports. Zacks Investment Research downgraded shares of Arcos Dorados Holdings from a “buy” rating to a “hold” rating in a report on Thursday, May 25th. Citigroup Inc. raised shares of Arcos Dorados Holdings from a “neutral” rating to a “buy” rating and increased their price target for the stock from $10.10 to $10.60 in a report on Monday, August 28th. Finally, ValuEngine raised shares of Arcos Dorados Holdings from a “hold” rating to a “buy” rating in a report on Saturday, June 3rd. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $9.28.
Arcos Dorados Holdings (ARCO) traded up 0.52% during trading on Thursday, reaching $9.70. 404,205 shares of the company’s stock traded hands. Arcos Dorados Holdings has a 52-week low of $4.88 and a 52-week high of $9.85. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of 37.31 and a beta of 2.16. The company’s 50 day moving average is $9.00 and its 200-day moving average is $8.24.
Arcos Dorados Holdings (NYSE:ARCO) last released its quarterly earnings data on Wednesday, August 9th. The restaurant operator reported ($0.02) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.12). The business had revenue of $798.70 million for the quarter. Arcos Dorados Holdings had a net margin of 1.76% and a return on equity of 14.68%. On average, analysts anticipate that Arcos Dorados Holdings will post $0.39 earnings per share for the current fiscal year.
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Several institutional investors have recently made changes to their positions in ARCO. Stevens Capital Management LP purchased a new stake in shares of Arcos Dorados Holdings in the second quarter worth about $107,000. Koch Industries Inc. purchased a new stake in shares of Arcos Dorados Holdings in the first quarter worth about $130,000. Moors & Cabot Inc. lifted its holdings in shares of Arcos Dorados Holdings by 4.9% in the second quarter. Moors & Cabot Inc. now owns 21,250 shares of the restaurant operator’s stock worth $159,000 after buying an additional 1,000 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Arcos Dorados Holdings by 2.4% in the second quarter. Wells Fargo & Company MN now owns 24,201 shares of the restaurant operator’s stock worth $180,000 after buying an additional 570 shares in the last quarter. Finally, FNY Partners Fund LP purchased a new stake in shares of Arcos Dorados Holdings in the first quarter worth about $201,000. 36.65% of the stock is currently owned by hedge funds and other institutional investors.
About Arcos Dorados Holdings
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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