Arcos Dorados (ARCO) Stock Rating Lowered by Zacks Investment Research
Arcos Dorados (NYSE:ARCO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
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. “
A number of other analysts have also weighed in on the stock. TheStreet raised shares of Arcos Dorados from a “c+” rating to a “b” rating in a report on Tuesday, November 21st. HSBC started coverage on shares of Arcos Dorados in a report on Wednesday, November 15th. They set a “buy” rating and a $12.00 target price on the stock. Finally, BidaskClub lowered shares of Arcos Dorados from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 15th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $10.90.
Institutional investors have recently bought and sold shares of the stock. Neuberger Berman Group LLC bought a new position in shares of Arcos Dorados in the 3rd quarter worth $103,000. Virtu Financial LLC bought a new position in shares of Arcos Dorados in the 3rd quarter worth $105,000. Stratos Wealth Partners LTD. bought a new position in shares of Arcos Dorados in the 3rd quarter worth $110,000. Janney Montgomery Scott LLC bought a new position in shares of Arcos Dorados in the 3rd quarter worth $125,000. Finally, Stevens Capital Management LP bought a new position in shares of Arcos Dorados in the 2nd quarter worth $107,000. 36.59% of the stock is currently owned by institutional investors and hedge funds.
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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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