Arcos Dorados Holdings Inc. (NYSE:ARCO) Short Interest Down 22.9% in August

Arcos Dorados Holdings Inc. (NYSE:ARCO) was the target of a large decline in short interest in August. As of August 15th, there was short interest totaling 3,460,000 shares, a decline of 22.9% from the July 31st total of 4,490,000 shares. Approximately 2.9% of the company’s stock are short sold. Based on an average daily volume of 1,450,000 shares, the days-to-cover ratio is currently 2.4 days. Based on an average daily volume of 1,450,000 shares, the days-to-cover ratio is currently 2.4 days. Approximately 2.9% of the company’s stock are short sold.

Arcos Dorados Price Performance

ARCO opened at $6.90 on Wednesday. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.80 and a quick ratio of 0.73. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 10.95, a P/E/G ratio of 1.33 and a beta of 0.63. The firm’s fifty day moving average price is $7.16 and its two-hundred day moving average price is $7.50. Arcos Dorados has a 1 year low of $6.51 and a 1 year high of $10.27.

Arcos Dorados (NYSE:ARCO) last posted its quarterly earnings data on Wednesday, August 13th. The restaurant operator reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.06. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.22 billion. Arcos Dorados had a net margin of 2.89% and a return on equity of 24.54%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.13 EPS. As a group, analysts anticipate that Arcos Dorados will post 0.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arcos Dorados

Hedge funds have recently bought and sold shares of the company. Itau Unibanco Holding S.A. purchased a new position in Arcos Dorados during the 1st quarter worth $73,000. R Squared Ltd boosted its holdings in Arcos Dorados by 60.3% during the 1st quarter. R Squared Ltd now owns 11,800 shares of the restaurant operator’s stock worth $95,000 after acquiring an additional 4,440 shares during the last quarter. Mraz Amerine & Associates Inc. purchased a new position in Arcos Dorados during the 2nd quarter worth $120,000. Olympiad Research LP purchased a new position in Arcos Dorados during the 2nd quarter worth $140,000. Finally, Janus Henderson Group PLC purchased a new position in Arcos Dorados during the 4th quarter worth $146,000. 55.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. lowered shares of Arcos Dorados from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $10.50 to $8.80 in a research note on Wednesday, July 2nd. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $8.80.

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.