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

Arcos Dorados Holdings Inc. (NYSE:ARCO)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $7.86 and last traded at $7.89, with a volume of 398131 shares. The stock had previously closed at $8.09.

Analyst Upgrades and Downgrades

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

Arcos Dorados Trading Down 3.3 %

The company has a market cap of $1.65 billion, a P/E ratio of 11.56, a price-to-earnings-growth ratio of 3.67 and a beta of 1.12. The company has a quick ratio of 0.57, a current ratio of 0.63 and a debt-to-equity ratio of 1.40. The firm’s 50-day moving average price is $8.79 and its 200-day moving average price is $9.06.

Arcos Dorados (NYSE:ARCO) last issued its earnings results on Wednesday, November 13th. The restaurant operator reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. Arcos Dorados had a net margin of 3.25% and a return on equity of 29.74%. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the previous year, the firm posted $0.30 EPS. The business’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, equities research analysts expect that Arcos Dorados Holdings Inc. will post 0.65 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arcos Dorados

Institutional investors and hedge funds have recently modified their holdings of the company. Quarry LP raised its position in shares of Arcos Dorados by 431.0% in the second quarter. Quarry LP now owns 3,239 shares of the restaurant operator’s stock worth $29,000 after buying an additional 2,629 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Arcos Dorados in the 2nd quarter worth about $93,000. nVerses Capital LLC purchased a new stake in shares of Arcos Dorados in the 2nd quarter valued at about $105,000. Blue Trust Inc. boosted its position 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 valued at $111,000 after acquiring an additional 2,427 shares during the last quarter. Finally, MQS Management LLC purchased a new position in shares of Arcos Dorados during the second quarter worth about $116,000. 55.91% of the stock is owned by hedge funds and other institutional investors.

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.