Arcos Dorados (ARCO) Raised to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Arcos Dorados (NYSE:ARCO) from a hold rating to a buy rating in a research report report published on Thursday morning. Zacks Investment Research currently has $11.00 target price on the restaurant operator’s stock.
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. “
Several other equities analysts have also issued reports on ARCO. TheStreet upgraded shares of Arcos Dorados from a c+ rating to a b rating in a report on Tuesday, November 21st. HSBC began coverage on shares of Arcos Dorados in a report on Wednesday, November 15th. They issued a buy rating and a $12.00 price objective for the company. Finally, BidaskClub lowered shares of Arcos Dorados from a strong-buy rating to a buy rating in a report on Wednesday, November 15th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Arcos Dorados currently has a consensus rating of Buy and an average target price of $10.90.
Arcos Dorados (NYSE:ARCO) opened at $9.70 on Thursday. Arcos Dorados has a 1-year low of $5.50 and a 1-year high of $10.80. The stock has a market cap of $2,050.00, a P/E ratio of 25.53, a PEG ratio of 2.21 and a beta of 2.04. The company has a current ratio of 0.99, a quick ratio of 0.89 and a debt-to-equity ratio of 1.45.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Teachers Advisors LLC raised its stake in Arcos Dorados by 30.0% during 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 last quarter. Investec Asset Management LTD raised its stake in Arcos Dorados by 273.2% during the 3rd quarter. Investec Asset Management LTD now owns 1,853,483 shares of the restaurant operator’s stock valued at $18,628,000 after buying an additional 1,356,816 shares during the last quarter. Carmignac Gestion purchased a new stake in Arcos Dorados during the 3rd quarter valued at $10,448,000. River & Mercantile Asset Management LLP purchased a new stake in Arcos Dorados during the 3rd quarter valued at $4,314,000. Finally, CIBC World Markets Inc. purchased a new stake in Arcos Dorados during the 2nd quarter valued at $3,182,000. Institutional investors own 36.59% of the company’s stock.
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About Arcos Dorados
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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