JPMorgan Chase & Co. initiated coverage on shares of Arcos Dorados (NYSE:ARCO) in a report issued on Wednesday morning, 24/7 WallStreet reports. The brokerage issued an overweight rating and a $8.50 target price on the restaurant operator’s stock.
A number of other equities analysts also recently issued reports on the stock. TheStreet downgraded shares of UDR from a b rating to a c rating in a report on Tuesday, April 30th. Zacks Investment Research downgraded shares of CGI from a buy rating to a hold rating in a report on Wednesday, June 19th. Finally, ValuEngine downgraded shares of Intersect ENT from a buy rating to a hold rating in a report on Monday. Two analysts have rated the stock with a sell rating and two have issued a buy rating to the company. Arcos Dorados presently has an average rating of Hold and an average target price of $8.50.
Shares of NYSE ARCO traded down $0.11 during trading on Wednesday, reaching $7.93. 425,500 shares of the company traded hands, compared to its average volume of 452,474. The firm’s 50 day moving average price is $6.91. The company has a debt-to-equity ratio of 3.91, a current ratio of 0.77 and a quick ratio of 0.70. The stock has a market capitalization of $1.63 billion, a PE ratio of 44.06 and a beta of 1.01. Arcos Dorados has a 52-week low of $5.92 and a 52-week high of $9.22.
Arcos Dorados (NYSE:ARCO) last announced its quarterly earnings results on Wednesday, May 15th. The restaurant operator reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.04). The company had revenue of $731.00 million for the quarter. Arcos Dorados had a net margin of 1.64% and a return on equity of 12.41%. As a group, equities research analysts forecast that Arcos Dorados will post 0.29 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently bought and sold shares of ARCO. Quantamental Technologies LLC purchased a new position in shares of Arcos Dorados in the first quarter worth approximately $85,000. Bank of America Corp DE raised its stake in Arcos Dorados by 56.1% during the 4th quarter. Bank of America Corp DE now owns 13,893 shares of the restaurant operator’s stock worth $110,000 after acquiring an additional 4,993 shares during the period. Barclays PLC raised its stake in Arcos Dorados by 536.0% during the 4th quarter. Barclays PLC now owns 15,900 shares of the restaurant operator’s stock worth $126,000 after acquiring an additional 13,400 shares during the period. Budros Ruhlin & Roe Inc. bought a new stake in Arcos Dorados during the 1st quarter worth approximately $170,000. Finally, LPL Financial LLC raised its stake in Arcos Dorados by 163.0% during the 4th quarter. LPL Financial LLC now owns 38,904 shares of the restaurant operator’s stock worth $307,000 after acquiring an additional 24,112 shares during the period. 38.10% of the stock is currently owned by institutional investors.
About Arcos Dorados
Arcos Dorados Holdings Inc operates as a franchisee of McDonald's restaurants. It has the exclusive right to own, operate, and grant franchises of McDonald's restaurants in 20 countries and territories in Latin America and the Caribbean, including Argentina, Aruba, Brazil, Chile, Colombia, Costa Rica, Curaçao, Ecuador, French Guiana, Guadeloupe, Martinique, Mexico, Panama, Peru, Puerto Rico, Trinidad and Tobago, Uruguay, the United States Virgin Islands of St.
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