Arcos Dorados (NYSE:ARCO) Stock Rating Upgraded by JPMorgan Chase & Co.

Arcos Dorados (NYSE:ARCO) was upgraded by equities research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report released on Friday,Benzinga reports. The firm currently has a $10.50 price objective on the restaurant operator’s stock, up from their prior price objective of $9.00. JPMorgan Chase & Co.‘s price target suggests a potential upside of 27.81% from the stock’s current price.

Several other research analysts have also weighed in on ARCO. Zacks Research raised shares of Arcos Dorados from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 10th. Santander raised shares of Arcos Dorados to an “outperform” rating in a research report on Monday, April 20th. The Goldman Sachs Group reiterated a “buy” rating on shares of Arcos Dorados in a report on Wednesday, April 8th. Wall Street Zen raised Arcos Dorados from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Finally, Weiss Ratings lowered Arcos Dorados from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $10.50.

Arcos Dorados Stock Down 1.0%

Shares of NYSE ARCO opened at $8.21 on Friday. Arcos Dorados has a 1 year low of $6.51 and a 1 year high of $9.75. The company has a market capitalization of $1.73 billion, a P/E ratio of 7.40 and a beta of 0.48. The company has a 50 day simple moving average of $8.44 and a 200-day simple moving average of $8.33. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.80 and a quick ratio of 0.73.

Arcos Dorados (NYSE:ARCO) last issued its quarterly earnings data on Thursday, May 21st. The restaurant operator reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.06. Arcos Dorados had a return on equity of 10.47% and a net margin of 4.86%.The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same period in the prior year, the business posted $0.07 earnings per share. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. On average, equities research analysts predict that Arcos Dorados will post 0.73 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Pzena Investment Management LLC increased its stake in Arcos Dorados by 1.7% during the 1st quarter. Pzena Investment Management LLC now owns 10,741,166 shares of the restaurant operator’s stock worth $88,615,000 after buying an additional 178,602 shares during the period. Hussman Strategic Advisors Inc. acquired a new position in shares of Arcos Dorados in the fourth quarter worth $771,000. Dumac Inc. purchased a new stake in shares of Arcos Dorados during the fourth quarter worth $447,000. Fideuram Asset Management Ireland dac purchased a new stake in shares of Arcos Dorados during the fourth quarter worth $771,000. Finally, General American Investors Co. Inc. raised its stake in shares of Arcos Dorados by 35.7% in the fourth quarter. General American Investors Co. Inc. now owns 950,178 shares of the restaurant operator’s stock valued at $6,974,000 after acquiring an additional 250,000 shares in the last quarter. Hedge funds and other institutional investors own 55.91% of the company’s stock.

About Arcos Dorados

Arcos Dorados Holdings Inc is the largest independent McDonald’s franchisee in the world, operating under an exclusive license agreement with McDonald’s Corporation. The company develops, owns and operates quick-service restaurants, offering the full McDonald’s menu, including hamburgers, chicken sandwiches, salads, sides, desserts and McCafé beverages. In addition to restaurant operations, Arcos Dorados manages supply chain logistics, property development, training and support services for its franchise network.

Headquartered in Montevideo, Uruguay, Arcos Dorados serves 20 markets across Latin America and the Caribbean, including Argentina, Brazil, Chile, Colombia, Mexico, Puerto Rico and Uruguay.