Arcos Dorados (NYSE:ARCO) Given New $10.00 Price Target at The Goldman Sachs Group
Arcos Dorados (NYSE:ARCO – Get Rating) had its target price raised by research analysts at The Goldman Sachs Group from $9.00 to $10.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the restaurant operator’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 35.87% from the stock’s current price.
Several other research analysts have also recently issued reports on the company. Bradesco Corretora raised Arcos Dorados from a “neutral” rating to an “outperform” rating and set a $12.00 price target on the stock in a report on Wednesday, June 15th. StockNews.com upgraded shares of Arcos Dorados from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 31st. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $9.90.
Arcos Dorados Stock Performance
Arcos Dorados stock opened at $7.36 on Wednesday. The company has a debt-to-equity ratio of 3.49, a quick ratio of 0.80 and a current ratio of 0.86. Arcos Dorados has a one year low of $4.33 and a one year high of $8.44. The stock’s 50 day moving average price is $7.00 and its 200 day moving average price is $7.31. The firm has a market capitalization of $1.55 billion, a PE ratio of 13.89, a price-to-earnings-growth ratio of 0.44 and a beta of 1.20.
Arcos Dorados (NYSE:ARCO – Get Rating) last issued its earnings results on Wednesday, August 10th. The restaurant operator reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.06). Arcos Dorados had a net margin of 3.43% and a return on equity of 52.60%. During the same quarter last year, the business posted $0.03 earnings per share. As a group, sell-side analysts expect that Arcos Dorados will post 0.49 EPS for the current fiscal year.
Institutional Investors Weigh In On Arcos Dorados
Hedge funds and other institutional investors have recently made changes to their positions in the business. Jane Street Group LLC lifted its position in Arcos Dorados by 108.5% in the second quarter. Jane Street Group LLC now owns 44,479 shares of the restaurant operator’s stock worth $300,000 after purchasing an additional 23,149 shares during the period. Macquarie Group Ltd. boosted its stake in shares of Arcos Dorados by 41.0% in the 2nd quarter. Macquarie Group Ltd. now owns 3,932,557 shares of the restaurant operator’s stock valued at $26,506,000 after purchasing an additional 1,143,252 shares in the last quarter. Cubist Systematic Strategies LLC grew its holdings in shares of Arcos Dorados by 36.9% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 540,350 shares of the restaurant operator’s stock worth $3,642,000 after purchasing an additional 145,530 shares during the last quarter. Quantamental Technologies LLC acquired a new position in Arcos Dorados in the second quarter valued at about $85,000. Finally, Quantbot Technologies LP increased its holdings in shares of Arcos Dorados by 5.8% during the second quarter. Quantbot Technologies LP now owns 50,270 shares of the restaurant operator’s stock worth $338,000 after buying an additional 2,773 shares in the last quarter. 35.41% of the stock is owned by institutional investors and hedge funds.
About Arcos Dorados
Arcos Dorados Holdings Inc operates as a franchisee of McDonald’s restaurants. The company 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.
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