JPMorgan Chase & Co. Cuts Arcos Dorados (NYSE:ARCO) Price Target to $12.00

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

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

Arcos Dorados Trading Up 2.4 %

Shares of ARCO stock opened at $8.48 on Friday. The firm’s fifty day simple moving average is $9.27 and its 200 day simple moving average is $10.05. The firm has a market capitalization of $1.79 billion, a P/E ratio of 10.47, a price-to-earnings-growth ratio of 2.34 and a beta of 1.17. The company has a current ratio of 0.63, a quick ratio of 0.57 and a debt-to-equity ratio of 1.52. Arcos Dorados has a 1 year low of $8.08 and a 1 year high of $13.20.

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

Institutional Investors Weigh In On Arcos Dorados

Hedge funds and other institutional investors have recently made changes to their positions in the company. Perpetual Ltd acquired a new stake in shares of Arcos Dorados during the 1st quarter worth approximately $49,647,000. Private Management Group Inc. lifted its holdings in Arcos Dorados by 7.0% during the second quarter. Private Management Group Inc. now owns 2,168,504 shares of the restaurant operator’s stock worth $19,517,000 after acquiring an additional 141,784 shares in the last quarter. Absolute Gestao de Investimentos Ltda. acquired a new position in shares of Arcos Dorados in the 1st quarter valued at approximately $22,586,000. Fourth Sail Capital LP bought a new stake in shares of Arcos Dorados during the second quarter worth $16,463,000. Finally, BNP Paribas Financial Markets boosted its stake in Arcos Dorados by 2.4% in the 1st quarter. BNP Paribas Financial Markets now owns 1,612,824 shares of the restaurant operator’s stock worth $17,935,000 after purchasing an additional 37,218 shares during the period. 55.91% of the stock is owned by institutional investors and hedge funds.

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.