Arcos Dorados (NYSE:ARCO) Stock Price Passes Above 200 Day Moving Average – Here’s What Happened

Arcos Dorados Holdings Inc. (NYSE:ARCO) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.22 and traded as high as $7.77. Arcos Dorados shares last traded at $7.6250, with a volume of 587,274 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price target on shares of Arcos Dorados from $8.80 to $8.70 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. Zacks Research upgraded shares of Arcos Dorados from a “strong sell” rating to a “hold” rating in a research report on Friday, November 21st. Weiss Ratings cut shares of Arcos Dorados from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Arcos Dorados from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $8.70.

Arcos Dorados Price Performance

The company has a quick ratio of 0.81, a current ratio of 0.89 and a debt-to-equity ratio of 1.32. The stock has a market cap of $1.61 billion, a P/E ratio of 6.52, a P/E/G ratio of 3.94 and a beta of 0.46. The firm has a 50 day moving average price of $7.14 and a 200 day moving average price of $7.22.

Arcos Dorados (NYSE:ARCO) last announced its quarterly earnings data on Wednesday, November 12th. The restaurant operator reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. Arcos Dorados had a return on equity of 20.42% and a net margin of 5.39%.The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the company posted $0.17 EPS. The firm’s revenue was up 5.2% on a year-over-year basis. On average, analysts forecast that Arcos Dorados Holdings Inc. will post 0.63 EPS for the current fiscal year.

Institutional Trading of Arcos Dorados

Hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP bought a new stake in shares of Arcos Dorados during the 3rd quarter valued at $45,000. Aquatic Capital Management LLC purchased a new stake in Arcos Dorados in the 3rd quarter worth $53,000. Itau Unibanco Holding S.A. bought a new stake in Arcos Dorados during the first quarter valued at about $73,000. Tower Bridge Advisors purchased a new position in shares of Arcos Dorados in the third quarter valued at about $75,000. Finally, Arkadios Wealth Advisors purchased a new position in shares of Arcos Dorados in the third quarter valued at about $76,000. 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.