Arcos Dorados (NYSE:ARCO) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Arcos Dorados (NYSE:ARCO) from a hold rating to a buy rating in a report released on Saturday,Wall Street Zen reports.

ARCO has been the topic of a number of other reports. Zacks Research raised Arcos Dorados from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 20th. Bank of America downgraded shares of Arcos Dorados from a “buy” rating to a “neutral” rating and set a $9.00 target price for the company. in a research report on Monday, October 26th. JPMorgan Chase & Co. raised shares of Arcos Dorados from a “neutral” rating to an “overweight” rating and increased their target price for the company from $9.00 to $10.50 in a research report on Friday, July 17th. Finally, Weiss Ratings upgraded shares of Arcos Dorados from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $9.75.

Arcos Dorados Stock Down 0.2%

Shares of NYSE:ARCO opened at $6.98 on Friday. The firm has a market cap of $1.47 billion, a P/E ratio of 5.72 and a beta of 0.54. Arcos Dorados has a 12-month low of $6.67 and a 12-month high of $9.75. The business has a fifty day simple moving average of $7.62 and a 200 day simple moving average of $8.18. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.14.

Arcos Dorados (NYSE:ARCO) last released its quarterly earnings results on Friday, August 14th. The restaurant operator reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.07. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.28 billion. Arcos Dorados had a return on equity of 12.50% and a net margin of 5.15%. Analysts predict that Arcos Dorados will post 0.80 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ARCO. NewEdge Wealth LLC grew its stake in shares of Arcos Dorados by 13.2% in the first quarter. NewEdge Wealth LLC now owns 20,289 shares of the restaurant operator’s stock worth $167,000 after acquiring an additional 2,360 shares during the last quarter. Confluence Investment Management LLC raised its stake in Arcos Dorados by 21.0% during the 2nd quarter. Confluence Investment Management LLC now owns 21,798 shares of the restaurant operator’s stock valued at $176,000 after buying an additional 3,783 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Arcos Dorados during the second quarter valued at $31,000. FNY Investment Advisers LLC bought a new position in shares of Arcos Dorados in the 2nd quarter worth approximately $40,000. Finally, DGS Capital Management LLC raised its position in Arcos Dorados by 50.6% in the first quarter. DGS Capital Management LLC now owns 20,300 shares of the restaurant operator’s stock worth $167,000 after acquiring an additional 6,819 shares during the period. 55.91% of the stock is owned by institutional investors.

Arcos Dorados Company Profile

Arcos Dorados Holdings Inc (NYSE: ARCO) is the largest independent McDonald’s franchisee in the world. The company operates and franchises McDonald’s restaurants across Latin America and the Caribbean under a master franchise agreement with McDonald’s Corporation.

Its restaurants offer McDonald’s products, including hamburgers, chicken items, french fries, breakfast products, beverages, desserts and other menu offerings. Arcos Dorados also provides services such as McCafé, McDelivery, digital ordering and drive-thru operations, depending on the market.

Headquartered in Buenos Aires, Argentina, Arcos Dorados serves customers in approximately 20 countries and territories, including Argentina, Brazil, Chile, Colombia, Mexico, Peru, Puerto Rico, Uruguay and Venezuela.