JPMorgan Chase & Co. upgraded shares of Arcos Dorados (NYSE:ARCO – Free Report) from a neutral rating to an overweight rating in a research report released on Friday morning,Benzinga reports. The firm currently has $10.50 price target on the restaurant operator’s stock, up from their previous price target of $9.00.
A number of other research analysts also recently commented on the stock. The Goldman Sachs Group reissued a “buy” rating on shares of Arcos Dorados in a research report on Wednesday, April 8th. Weiss Ratings downgraded shares of Arcos Dorados from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, June 29th. Wall Street Zen upgraded Arcos Dorados from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Santander upgraded Arcos Dorados to an “outperform” rating in a report on Monday, April 20th. Finally, Zacks Research raised Arcos Dorados from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $10.50.
View Our Latest Stock Analysis on Arcos Dorados
Arcos Dorados Price Performance
Arcos Dorados (NYSE:ARCO – Get Free Report) last issued its earnings results on Thursday, May 21st. 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 for the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the previous year, the company earned $0.07 earnings per share. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. On average, research analysts expect that Arcos Dorados will post 0.73 EPS for the current fiscal year.
Hedge Funds Weigh In On Arcos Dorados
Institutional investors and hedge funds have recently modified their holdings of the stock. FNY Investment Advisers LLC acquired a new stake in shares of Arcos Dorados during the 2nd quarter worth about $40,000. Global Retirement Partners LLC boosted its holdings in shares of Arcos Dorados by 9,074.6% during the 4th quarter. Global Retirement Partners LLC now owns 5,780 shares of the restaurant operator’s stock worth $42,000 after buying an additional 5,717 shares during the period. Quarry LP acquired a new position in Arcos Dorados in the 3rd quarter valued at about $45,000. Aquatic Capital Management LLC acquired a new position in Arcos Dorados in the 3rd quarter valued at about $53,000. Finally, Tudor Investment Corp ET AL bought a new position in Arcos Dorados in the 3rd quarter valued at about $73,000. 55.91% of the stock is currently owned by institutional investors and hedge funds.
Arcos Dorados Company Profile
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.
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