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

Arcos Dorados Holdings Inc. (NYSE:ARCO)’s stock price hit a new 52-week low during trading on Wednesday . The stock 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.

Analyst Ratings Changes

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

Arcos Dorados Trading Up 2.4 %

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 firm has a market cap 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 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 earnings results on Wednesday, August 14th. The restaurant operator reported $0.13 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.13. Arcos Dorados had a return on equity of 36.55% and a net margin of 3.80%. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the firm earned $0.14 earnings per share. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. As a group, research analysts expect that Arcos Dorados Holdings Inc. will post 0.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Arcos Dorados

Hedge funds have recently bought and sold shares of the business. Quarry LP grew its stake in Arcos Dorados by 431.0% during the 2nd quarter. Quarry LP now owns 3,239 shares of the restaurant operator’s stock valued at $29,000 after purchasing an additional 2,629 shares in the last quarter. Adalta Capital Management LLC bought a new position in Arcos Dorados during the 1st quarter worth approximately $111,000. Bank of New York Mellon Corp bought a new position in Arcos Dorados during the 2nd quarter worth approximately $93,000. Lazard Asset Management LLC lifted its holdings in Arcos Dorados by 35.4% during the 1st quarter. Lazard Asset Management LLC now owns 11,557 shares of the restaurant operator’s stock worth $128,000 after buying an additional 3,022 shares during the last quarter. Finally, nVerses Capital LLC acquired a new position in Arcos Dorados during the 2nd quarter valued at approximately $105,000. Institutional investors and hedge funds 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.