HSBC Holdings PLC assumed coverage on shares of Arcos Dorados Holdings Inc. (NYSE:ARCO) in a research report sent to investors on Wednesday morning. The firm issued a buy rating and a $12.00 price objective on the restaurant operator’s stock.
Other equities analysts have also recently issued reports about the company. BidaskClub cut Arcos Dorados Holdings from a strong-buy rating to a buy rating in a report on Friday, September 1st. Citigroup Inc. upgraded Arcos Dorados Holdings from a neutral rating to a buy rating and lifted their target price for the stock from $10.10 to $10.60 in a report on Monday, August 28th. Finally, Zacks Investment Research upgraded Arcos Dorados Holdings from a hold rating to a buy rating and set a $12.00 target price on the stock in a report on Friday, November 10th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Arcos Dorados Holdings presently has a consensus rating of Buy and a consensus price target of $11.15.
Shares of Arcos Dorados Holdings (NYSE ARCO) traded up $0.25 during midday trading on Wednesday, hitting $9.95. The company had a trading volume of 525,400 shares, compared to its average volume of 625,698. The company has a quick ratio of 0.89, a current ratio of 0.99 and a debt-to-equity ratio of 1.45. The firm has a market cap of $2,047.40, a PE ratio of 25.53, a price-to-earnings-growth ratio of 1.90 and a beta of 2.07. Arcos Dorados Holdings has a twelve month low of $5.25 and a twelve month high of $10.80.
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Several hedge funds have recently modified their holdings of ARCO. Teachers Advisors LLC grew its holdings in shares of Arcos Dorados Holdings by 30.0% during the second 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 in the last quarter. Investec Asset Management LTD grew its holdings in shares of Arcos Dorados Holdings by 273.2% during the third 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 in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Arcos Dorados Holdings by 38.9% during the second quarter. Acadian Asset Management LLC now owns 4,800,113 shares of the restaurant operator’s stock valued at $35,761,000 after buying an additional 1,344,088 shares in the last quarter. Carmignac Gestion purchased a new position in shares of Arcos Dorados Holdings during the third quarter valued at $10,448,000. Finally, Glen Point Capital LLP purchased a new position in shares of Arcos Dorados Holdings during the second quarter valued at $6,164,000. Institutional investors and hedge funds own 37.08% of the company’s stock.
Arcos Dorados Holdings Company Profile
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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