Zacks Investment Research upgraded shares of Arcos Dorados (NYSE:ARCO) from a sell rating to a hold rating in a report released on Friday morning.

According to Zacks, “Arcos Dorados Holdings Inc. operates as a franchisee of McDonald’s with its operations divided in Brazil; North Latin America division; South Latin America and the Caribbean division. It also runs quick service restaurants in Latin America and the Caribbean. It has operations in territories in Latin America and the Caribbean, including Argentina, Aruba, Brazil, Chile, Colombia, Costa Rica, Curaçao, Ecuador, French Guiana, Guadeloupe, Martinique, Mexico, Panama, Peru, Puerto Rico, Uruguay, the U.S. Virgin Islands of St. Croix and St. Thomas, and Venezuela. Arcos Dorados Holdings Inc. is headquartered in Buenos Aires, Argentina. “

A number of other brokerages have also recently issued reports on ARCO. ValuEngine upgraded shares of Arcos Dorados from a sell rating to a hold rating in a report on Friday, July 6th. TheStreet cut shares of Arcos Dorados from a b- rating to a c+ rating in a report on Friday, August 31st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. Arcos Dorados currently has an average rating of Hold and a consensus price target of $10.00.

Shares of NYSE ARCO opened at $6.10 on Friday. The stock has a market cap of $1.32 billion, a PE ratio of 10.00, a price-to-earnings-growth ratio of 1.15 and a beta of 1.68. Arcos Dorados has a 1 year low of $6.05 and a 1 year high of $10.80. The company has a quick ratio of 0.95, a current ratio of 1.05 and a debt-to-equity ratio of 1.57.

Arcos Dorados (NYSE:ARCO) last issued its quarterly earnings data on Wednesday, August 8th. The restaurant operator reported $0.01 earnings per share (EPS) for the quarter. The firm had revenue of $753.97 million during the quarter. Arcos Dorados had a net margin of 2.82% and a return on equity of 21.03%. research analysts anticipate that Arcos Dorados will post 0.28 EPS for the current fiscal year.

Arcos Dorados declared that its Board of Directors has initiated a share repurchase plan on Tuesday, May 22nd that allows the company to buyback $60.00 million in shares. This buyback authorization allows the restaurant operator to repurchase up to 3.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Blair William & Co. IL bought a new position in shares of Arcos Dorados during the first quarter valued at about $102,000. Usca Ria LLC bought a new position in shares of Arcos Dorados during the first quarter valued at about $119,000. Element Capital Management LLC bought a new position in shares of Arcos Dorados during the first quarter valued at about $151,000. Rational Advisors LLC bought a new position in shares of Arcos Dorados during the second quarter valued at about $124,000. Finally, Barclays PLC lifted its position in shares of Arcos Dorados by 286.0% during the first quarter. Barclays PLC now owns 24,600 shares of the restaurant operator’s stock valued at $225,000 after purchasing an additional 18,227 shares in the last quarter. Hedge funds and other institutional investors own 35.66% of the company’s stock.

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, Curaçao, Ecuador, French Guiana, Guadeloupe, Martinique, Mexico, Panama, Peru, Puerto Rico, Trinidad and Tobago, Uruguay, the United States Virgin Islands of St.

Featured Story: Find a Trading Strategy That Works

Get a free copy of the Zacks research report on Arcos Dorados (ARCO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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