Arcos Dorados (NYSE:ARCO) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Arcos Dorados Holdings Inc. (NYSE:ARCO) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $8.23 and traded as high as $8.30. Arcos Dorados shares last traded at $8.1350, with a volume of 802,283 shares trading hands.

Analysts Set New Price Targets

ARCO has been the topic of a number of recent research reports. The Goldman Sachs Group restated a “buy” rating on shares of Arcos Dorados in a research note on Wednesday, April 8th. Wall Street Zen upgraded Arcos Dorados from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Santander raised Arcos Dorados to an “outperform” rating in a report on Monday, April 20th. Finally, Weiss Ratings upgraded Arcos Dorados from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Arcos Dorados has an average rating of “Hold” and an average target price of $8.70.

Arcos Dorados Trading Down 0.7%

The company has a quick ratio of 0.73, a current ratio of 0.80 and a debt-to-equity ratio of 1.25. The company’s 50-day moving average is $8.69 and its 200 day moving average is $8.23. The company has a market cap of $1.71 billion, a price-to-earnings ratio of 7.33 and a beta of 0.46.

Arcos Dorados (NYSE:ARCO) last issued its quarterly earnings data on Wednesday, May 20th. The restaurant operator reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.06. Arcos Dorados had a net margin of 4.86% and a return on equity of 10.47%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the prior year, the firm posted $0.07 earnings per share. The company’s revenue was up 12.9% compared to the same quarter last year. Research analysts predict that Arcos Dorados Holdings Inc. will post 0.73 EPS for the current year.

Hedge Funds Weigh In On Arcos Dorados

A number of large investors have recently bought and sold shares of the business. Quantbot Technologies LP boosted its position in Arcos Dorados by 1,472,528.6% during the third quarter. Quantbot Technologies LP now owns 103,084 shares of the restaurant operator’s stock worth $696,000 after purchasing an additional 103,077 shares in the last quarter. Hussman Strategic Advisors Inc. acquired a new stake in Arcos Dorados in the fourth quarter valued at approximately $771,000. Private Management Group Inc. increased its position in shares of Arcos Dorados by 6.2% in the third quarter. Private Management Group Inc. now owns 3,379,280 shares of the restaurant operator’s stock valued at $22,810,000 after buying an additional 196,282 shares in the last quarter. Fideuram Asset Management Ireland dac purchased a new stake in shares of Arcos Dorados in the fourth quarter valued at approximately $771,000. Finally, Dumac Inc. acquired a new position in shares of Arcos Dorados during the 4th quarter worth approximately $447,000. Institutional investors and hedge funds own 55.91% of the company’s stock.

About Arcos Dorados

Arcos Dorados Holdings Inc is the largest independent McDonald’s franchisee in the world, operating under an exclusive license agreement with McDonald’s Corporation. The company develops, owns and operates quick-service restaurants, offering the full McDonald’s menu, including hamburgers, chicken sandwiches, salads, sides, desserts and McCafé beverages. In addition to restaurant operations, Arcos Dorados manages supply chain logistics, property development, training and support services for its franchise network.

Headquartered in Montevideo, Uruguay, Arcos Dorados serves 20 markets across Latin America and the Caribbean, including Argentina, Brazil, Chile, Colombia, Mexico, Puerto Rico and Uruguay.