Arcos Dorados (NYSE:ARCO) Price Target Cut to $12.00

Arcos Dorados (NYSE:ARCO) had its target price lowered by JPMorgan Chase & Co. from $14.00 to $12.00 in a research report report published on Friday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the restaurant operator’s stock.

Separately, StockNews.com lowered Arcos Dorados from a buy rating to a hold rating in a report on Friday, May 24th.

Arcos Dorados Stock Performance

NYSE ARCO opened at $8.41 on Friday. The company’s 50 day moving average is $9.27 and its 200-day moving average is $10.05. The firm has a market cap of $1.77 billion, a P/E ratio of 10.38, a price-to-earnings-growth ratio of 2.34 and a beta of 1.17. Arcos Dorados has a 12-month low of $8.08 and a 12-month high of $13.20. The company has a quick ratio of 0.57, a current ratio of 0.63 and a debt-to-equity ratio of 1.52.

Arcos Dorados (NYSE:ARCO) last posted its earnings results on Wednesday, August 14th. The restaurant operator reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.13. Arcos Dorados had a return on equity of 36.55% and a net margin of 3.80%. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the business posted $0.14 earnings per share. The business’s quarterly revenue was up 6.8% on a year-over-year basis. Sell-side analysts predict that Arcos Dorados will post 0.73 earnings per share for the current year.

Institutional Investors Weigh In On Arcos Dorados

Several large investors have recently added to or reduced their stakes in the business. TimesSquare Capital Management LLC lifted its position in Arcos Dorados by 25.8% during the first quarter. TimesSquare Capital Management LLC now owns 1,466,000 shares of the restaurant operator’s stock valued at $16,302,000 after purchasing an additional 301,020 shares during the last quarter. Perpetual Ltd bought a new stake in shares of Arcos Dorados during the 1st quarter worth $49,647,000. Oliver Luxxe Assets LLC grew its position in Arcos Dorados by 10.5% in the fourth quarter. Oliver Luxxe Assets LLC now owns 54,138 shares of the restaurant operator’s stock worth $687,000 after acquiring an additional 5,137 shares in the last quarter. Nordea Investment Management AB increased its stake in Arcos Dorados by 33.5% in the first quarter. Nordea Investment Management AB now owns 458,355 shares of the restaurant operator’s stock valued at $5,129,000 after acquiring an additional 115,118 shares during the last quarter. Finally, Quattro Financial Advisors LLC raised its position in Arcos Dorados by 158,015.4% during the first quarter. Quattro Financial Advisors LLC now owns 20,555 shares of the restaurant operator’s stock valued at $229,000 after purchasing an additional 20,542 shares in the last quarter. Institutional investors own 55.91% of the company’s stock.

About Arcos Dorados

Arcos Dorados Holdings Inc operates as a franchisee of McDonald’s restaurants. It has the exclusive right to own, operate, and grant franchises of McDonald’s restaurants in 20 countries and territories in Latin America and the Caribbean, including Argentina, Aruba, Brazil, Chile, Colombia, Costa Rica, Curacao, Ecuador, French Guiana, Guadeloupe, Martinique, Mexico, Panama, Peru, Puerto Rico, Trinidad and Tobago, Uruguay, the U.S.