Arcos Dorados (ARCO) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Arcos Dorados (NYSE:ARCO) from a buy rating to a hold rating in a research note released on Tuesday morning.

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, Curaçao, 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. “

ARCO has been the topic of a number of other research reports. TheStreet raised Arcos Dorados from a c+ rating to a b rating in a report on Tuesday, November 21st. HSBC began coverage on Arcos Dorados in a research report on Wednesday, November 15th. They set a buy rating and a $12.00 target price for the company. Finally, BidaskClub downgraded Arcos Dorados from a strong-buy rating to a buy rating in a research report on Wednesday, November 15th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $10.90.

Shares of Arcos Dorados (NYSE ARCO) traded up $0.20 during midday trading on Tuesday, hitting $9.55. The stock had a trading volume of 191,364 shares, compared to its average volume of 359,000. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.89 and a current ratio of 0.99. The firm has a market cap of $2,020.00, a price-to-earnings ratio of 25.13, a price-to-earnings-growth ratio of 2.21 and a beta of 2.04. Arcos Dorados has a fifty-two week low of $5.60 and a fifty-two week high of $10.80.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARCO. Teachers Advisors LLC increased its stake in shares of Arcos Dorados by 30.0% in the 2nd quarter. Teachers Advisors LLC now owns 10,684,536 shares of the restaurant operator’s stock valued at $79,600,000 after buying an additional 2,465,110 shares during the period. Investec Asset Management LTD grew its stake in shares of Arcos Dorados by 273.2% during the third quarter. Investec Asset Management LTD now owns 1,853,483 shares of the restaurant operator’s stock worth $18,628,000 after purchasing an additional 1,356,816 shares during the period. Carmignac Gestion acquired a new stake in shares of Arcos Dorados during the third quarter worth $10,448,000. River & Mercantile Asset Management LLP acquired a new stake in shares of Arcos Dorados during the third quarter worth $4,314,000. Finally, Nationwide Fund Advisors acquired a new stake in shares of Arcos Dorados during the second quarter worth $2,756,000. 36.59% of the stock is owned by institutional investors.

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Arcos Dorados Company Profile

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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