Arcos Dorados (NYSE:ARCO) Reaches New 12-Month Low – Here’s What Happened

Arcos Dorados Holdings Inc. (NYSE:ARCO)’s share price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $7.86 and last traded at $8.02, with a volume of 390407 shares trading hands. The stock had previously closed at $8.20.

Analysts Set New Price Targets

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

Arcos Dorados Stock Down 2.6 %

The stock has a 50-day moving average of $8.92 and a 200 day moving average of $9.22. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.63 and a quick ratio of 0.57. The company has a market cap of $1.68 billion, a P/E ratio of 11.71, a PEG ratio of 2.59 and a beta of 1.16.

Arcos Dorados (NYSE:ARCO) last posted its earnings results on Wednesday, November 13th. The restaurant operator reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Arcos Dorados had a net margin of 3.25% and a return on equity of 29.74%. The company’s revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 earnings per share. Research analysts anticipate that Arcos Dorados Holdings Inc. will post 0.66 earnings per share for the current year.

Hedge Funds Weigh In On Arcos Dorados

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Private Management Group Inc. raised its holdings in Arcos Dorados by 8.5% during the third quarter. Private Management Group Inc. now owns 2,352,659 shares of the restaurant operator’s stock worth $20,515,000 after buying an additional 184,155 shares during the last quarter. Fourth Sail Capital LP acquired a new stake in shares of Arcos Dorados in the 2nd quarter worth about $16,463,000. Perpetual Ltd lifted its position in Arcos Dorados by 15.8% in the 3rd quarter. Perpetual Ltd now owns 1,636,470 shares of the restaurant operator’s stock valued at $14,270,000 after acquiring an additional 223,496 shares in the last quarter. Franklin Resources Inc. acquired a new position in Arcos Dorados during the 3rd quarter valued at about $12,101,000. Finally, Van ECK Associates Corp raised its stake in shares of Arcos Dorados by 6.3% in the third quarter. Van ECK Associates Corp now owns 876,300 shares of the restaurant operator’s stock worth $7,852,000 after purchasing an additional 52,289 shares during the last quarter. Institutional investors own 55.91% of the company’s stock.

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.