Arcos Dorados (NYSE:ARCO) Shares Gap Up to $8.72

Arcos Dorados Holdings Inc. (NYSE:ARCO)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $8.72, but opened at $10.05. Arcos Dorados shares last traded at $9.98, with a volume of 440,705 shares traded.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. decreased their price objective on 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 Performance

The stock’s 50 day moving average is $9.03 and its two-hundred day moving average is $9.79. The firm has a market capitalization of $2.08 billion, a P/E ratio of 12.17, a P/E/G ratio of 2.47 and a beta of 1.17. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.63 and a quick ratio of 0.57.

Arcos Dorados (NYSE:ARCO) last issued its earnings results on Wednesday, August 14th. The restaurant operator reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. Arcos Dorados had a net margin of 3.80% and a return on equity of 36.55%. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the company posted $0.14 EPS. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. As a group, equities analysts anticipate that Arcos Dorados Holdings Inc. will post 0.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arcos Dorados

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Perpetual Ltd acquired a new position in shares of Arcos Dorados in the 1st quarter valued at approximately $49,647,000. Private Management Group Inc. boosted its holdings in shares of Arcos Dorados by 7.0% in the second quarter. Private Management Group Inc. now owns 2,168,504 shares of the restaurant operator’s stock valued at $19,517,000 after buying an additional 141,784 shares during the period. Absolute Gestao de Investimentos Ltda. bought a new stake in shares of Arcos Dorados during the first quarter worth $22,586,000. Fourth Sail Capital LP acquired a new stake in shares of Arcos Dorados during the second quarter worth $16,463,000. Finally, BNP Paribas Financial Markets lifted its position in Arcos Dorados by 2.4% in the 1st quarter. BNP Paribas Financial Markets now owns 1,612,824 shares of the restaurant operator’s stock valued at $17,935,000 after acquiring an additional 37,218 shares in the last quarter. 55.91% of the stock is owned by institutional investors.

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.