Arcos Dorados Holdings Inc. (NYSE:ARCO)’s share price reached a new 52-week high on Friday . The stock traded as high as $10.00 and last traded at $10.05, with a volume of 361,532 shares changing hands. The stock had previously closed at $9.65.

Several research firms have weighed in on ARCO. BidaskClub cut Arcos Dorados Holdings from a “buy” rating to a “hold” rating in a research note on Saturday, July 1st. ValuEngine cut Arcos Dorados Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Zacks Investment Research cut Arcos Dorados Holdings from a “buy” rating to a “hold” rating in a research note on Friday, June 9th. Finally, Citigroup Inc. raised Arcos Dorados Holdings from a “neutral” rating to a “buy” rating and lifted their target price for the company from $10.10 to $10.60 in a research note on Monday, August 28th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Arcos Dorados Holdings has an average rating of “Buy” and an average price target of $9.28.

The firm’s 50-day moving average is $9.05 and its 200-day moving average is $8.32. The firm has a market cap of $2.08 billion, a P/E ratio of 37.88 and a beta of 2.16.

Arcos Dorados Holdings (NYSE:ARCO) last released its quarterly earnings results on Wednesday, August 9th. The restaurant operator reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.12). The firm had revenue of $798.70 million for the quarter. Arcos Dorados Holdings had a return on equity of 14.68% and a net margin of 1.76%. Equities analysts forecast that Arcos Dorados Holdings Inc. will post $0.39 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN raised its holdings in Arcos Dorados Holdings by 2.4% in the 2nd quarter. Wells Fargo & Company MN now owns 24,201 shares of the restaurant operator’s stock valued at $180,000 after acquiring an additional 570 shares in the last quarter. Moors & Cabot Inc. raised its holdings in Arcos Dorados Holdings by 4.9% in the 2nd quarter. Moors & Cabot Inc. now owns 21,250 shares of the restaurant operator’s stock valued at $159,000 after acquiring an additional 1,000 shares in the last quarter. Engineers Gate Manager LP raised its holdings in Arcos Dorados Holdings by 8.3% in the 2nd quarter. Engineers Gate Manager LP now owns 61,724 shares of the restaurant operator’s stock valued at $460,000 after acquiring an additional 4,738 shares in the last quarter. Royal Bank of Canada raised its holdings in Arcos Dorados Holdings by 5.2% in the 2nd quarter. Royal Bank of Canada now owns 107,989 shares of the restaurant operator’s stock valued at $804,000 after acquiring an additional 5,360 shares in the last quarter. Finally, KCG Holdings Inc. raised its holdings in Arcos Dorados Holdings by 27.7% in the 1st quarter. KCG Holdings Inc. now owns 32,895 shares of the restaurant operator’s stock valued at $265,000 after acquiring an additional 7,134 shares in the last quarter. 36.65% of the stock is owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY WARNING: This story was published by Daily Political and is the property of of Daily Political. If you are accessing this story on another site, it was copied illegally and republished in violation of international trademark and copyright law. The original version of this story can be viewed at https://www.dailypolitical.com/2017/09/22/arcos-dorados-holdings-inc-arco-reaches-new-52-week-high-at-10-00.html.

Arcos Dorados Holdings Company Profile

Arcos Dorados Holdings Inc is a McDonald’s franchisee. The Company operates or franchises over 2,140 McDonald’s-branded restaurants. It divides its operations into four geographical divisions: Brazil; the Caribbean division, consisting of Aruba, Colombia, Curacao, French Guiana, Guadeloupe, Martinique, Puerto Rico, Trinidad and Tobago, the United States Virgin Islands of Saint Croix and Saint Thomas, and Venezuela; the North Latin America division (NOLAD), consisting of Costa Rica, Mexico and Panama, and the South Latin America division (SLAD), consisting of Argentina, Chile, Ecuador, Peru and Uruguay.

Receive News & Ratings for Arcos Dorados Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arcos Dorados Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.