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

Shares of Arcos Dorados Holdings Inc. (NYSE:ARCO) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $8.07 and last traded at $8.38, with a volume of 744029 shares traded. The stock had previously closed at $8.40.

Analysts Set New Price Targets

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

Arcos Dorados Stock Up 2.4 %

The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 10.87, a price-to-earnings-growth ratio of 2.55 and a beta of 1.16. The company has a quick ratio of 0.57, a current ratio of 0.63 and a debt-to-equity ratio of 1.52. The business has a 50-day moving average price of $8.91 and a 200-day moving average price of $9.40.

Arcos Dorados (NYSE:ARCO) last posted its quarterly earnings results on Wednesday, August 14th. The restaurant operator reported $0.13 earnings per share for the quarter, meeting the consensus estimate of $0.13. The firm 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%. Arcos Dorados’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.14 earnings per share. As a group, equities analysts anticipate that Arcos Dorados Holdings Inc. will post 0.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ARCO. Quarry LP boosted its stake in shares of Arcos Dorados by 431.0% during the 2nd quarter. Quarry LP now owns 3,239 shares of the restaurant operator’s stock worth $29,000 after acquiring an additional 2,629 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Arcos Dorados during the 2nd quarter worth about $93,000. nVerses Capital LLC bought a new stake in shares of Arcos Dorados during the 2nd quarter worth about $105,000. Blue Trust Inc. boosted its stake in shares of Arcos Dorados by 24.6% during the 2nd quarter. Blue Trust Inc. now owns 12,307 shares of the restaurant operator’s stock worth $111,000 after acquiring an additional 2,427 shares in the last quarter. Finally, Adalta Capital Management LLC bought a new stake in shares of Arcos Dorados during the 1st quarter worth about $111,000. Hedge funds and other 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.