Arcos Dorados (NYSE:ARCO) Stock Price Target Lowered at JPMorgan Chase & Co.

Arcos Dorados (NYSE:ARCO – Get Free Report) had its price objective decreased by stock analysts at JPMorgan Chase & Co. from $10.50 to $10.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the restaurant operator’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 44.61% from the stock’s previous close.

A number of other research analysts have also recently weighed in on ARCO. Bank of America cut shares of Arcos Dorados from a “buy” rating to a “neutral” rating and set a $9.00 price target on the stock. in a research report on Monday, October 26th. Zacks Research upgraded Arcos Dorados from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 20th. Wall Street Zen upgraded Arcos Dorados from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Weiss Ratings raised Arcos Dorados from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $9.50.

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Arcos Dorados Price Performance

Arcos Dorados stock traded down $0.14 during mid-day trading on Tuesday, reaching $6.92. The company had a trading volume of 571,378 shares, compared to its average volume of 1,427,521. The stock’s 50-day simple moving average is $7.60 and its 200-day simple moving average is $8.18. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.88 and a quick ratio of 0.81. The company has a market capitalization of $1.46 billion, a P/E ratio of 5.68 and a beta of 0.54. Arcos Dorados has a 1 year low of $6.67 and a 1 year high of $9.75.

Arcos Dorados (NYSE:ARCO – Get Free Report) last issued its quarterly earnings data on Friday, August 14th. The restaurant operator reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.07. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Arcos Dorados had a net margin of 5.15% and a return on equity of 12.50%. On average, equities analysts predict that Arcos Dorados will post 0.80 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Lazard Asset Management LLC raised its holdings in shares of Arcos Dorados by 7.9% during the first quarter. Lazard Asset Management LLC now owns 23,174,841 shares of the restaurant operator’s stock valued at $191,192,000 after acquiring an additional 1,703,169 shares during the period. Moerus Capital Management LLC grew its position in Arcos Dorados by 19.9% in the first quarter. Moerus Capital Management LLC now owns 4,263,589 shares of the restaurant operator’s stock worth $35,175,000 after acquiring an additional 706,683 shares in the last quarter. Sei Investments Co. grew its position in Arcos Dorados by 132.8% in the first quarter. Sei Investments Co. now owns 3,483,732 shares of the restaurant operator’s stock worth $28,741,000 after acquiring an additional 1,987,271 shares in the last quarter. Private Management Group Inc. increased its stake in shares of Arcos Dorados by 3.0% during the 3rd quarter. Private Management Group Inc. now owns 3,416,163 shares of the restaurant operator’s stock worth $24,426,000 after purchasing an additional 98,070 shares during the last quarter. Finally, Globeflex Capital L P bought a new position in shares of Arcos Dorados during the 2nd quarter valued at $6,574,000. Institutional investors and hedge funds own 55.91% of the company’s stock.

About Arcos Dorados

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Arcos Dorados Holdings operates McDonald’s restaurants in Latin America and the Caribbean under a master franchise agreement. It is the largest independent McDonald’s franchisee in the world by restaurant count, with operations across 20 countries and territories in the region. The company’s restaurants serve McDonald’s menu items, including burgers, fries, chicken, breakfast foods, desserts and beverages. Its services also include McCafé offerings, delivery and digital ordering through channels such as mobile apps and kiosks.

Further Reading

Analyst Recommendations for Arcos Dorados (NYSE:ARCO)

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