Arcos Dorados (NYSE:ARCO) Shares Gap Up to $8.72

Shares of Arcos Dorados Holdings Inc. (NYSE:ARCO) gapped up prior to trading on Tuesday . The stock had previously closed at $8.72, but opened at $10.05. Arcos Dorados shares last traded at $9.98, with a volume of 440,705 shares trading hands.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. cut their price objective on shares of Arcos Dorados from $14.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, September 13th.

Arcos Dorados Stock Up 11.9 %

The stock has a market cap of $2.06 billion, a PE ratio of 12.48, a P/E/G ratio of 2.47 and a beta of 1.17. The business has a 50 day moving average price of $9.03 and a 200 day moving average price of $9.80. 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 released its quarterly earnings data on Wednesday, August 14th. The restaurant operator reported $0.13 EPS for the quarter, hitting the consensus estimate of $0.13. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.06 billion. Arcos Dorados had a return on equity of 36.55% and a net margin of 3.80%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.14 EPS. Equities research analysts expect that Arcos Dorados Holdings Inc. will post 0.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Arcos Dorados

A number of institutional investors have recently modified their holdings of the business. TimesSquare Capital Management LLC boosted 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 worth $16,302,000 after purchasing an additional 301,020 shares in the last quarter. Perpetual Ltd purchased a new position in shares of Arcos Dorados during the 1st quarter valued at approximately $49,647,000. Fourth Sail Capital LP acquired a new stake in Arcos Dorados in the 2nd quarter valued at $16,463,000. Nordea Investment Management AB increased its holdings in Arcos Dorados by 33.5% in the 1st quarter. Nordea Investment Management AB now owns 458,355 shares of the restaurant operator’s stock worth $5,129,000 after acquiring an additional 115,118 shares in the last quarter. Finally, Oliver Luxxe Assets LLC raised its position in Arcos Dorados by 29.2% during the first quarter. Oliver Luxxe Assets LLC now owns 69,924 shares of the restaurant operator’s stock worth $778,000 after acquiring an additional 15,786 shares during the period. 55.91% of the stock is currently owned by institutional investors and hedge funds.

Arcos Dorados Company Profile

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.