Research analysts at StockNews.com began covering Arcos Dorados on Thursday, as stated in a report made available to the public that same day (NYSE: ARCO). When purchasing stock in the restaurant’s proprietor, the company gave its shareholders a “strong buy” recommendation.
NYSE: ARCO started trading for the first time on Thursday, and the stock price was $7.83 when it did so.
The debt-to-equity ratio is calculated to be 2.99, the quick ratio is calculated to be 0.90, and the current ratio is calculated to be 0.97.
The company has a PE ratio of 12.43, a PEG ratio of 1.11, and a beta value of 0.99, and its market capitalization is currently sitting at 1.65 billion dollars.
Moving averages for the past 50 days come in at $8.39 for the company while moving averages for the past 200 days come in at $7.79. Over the previous twelve months, a single share of Arcos Dorados has fluctuated between $6.23 and $9.04.
In addition, Barclays upgraded their “overweight” rating on Arcos Dorado’s shares.
They raised their price objective on the stock from $9.00 to $10.00 in a research note published on Monday, February 6th.
The stock has received six buy ratings from the opinions of investment analysts, including one strong buy recommendation, four buy ratings, and one hold rating.
According to Bloomberg.com, most investors have a “buy” rating for the company, and their average price target for the stock is $10.
Recently, a significant number of institutional investors have changed the distribution of company holdings they are responsible for.
During the final three months of the fiscal year, the State of Wyoming bought an additional 25.6% of Arcos Dorados, bringing its total ownership stake to 100%.
The state of Wyoming now owns 34,584 shares of the restaurant operator’s stock after making an additional purchase of 7,053 shares during the most recent quarter.
Based on current market prices, the state’s holdings are estimated to be worth $289,000.
The value of Reliant Investment Research’s holdings in Arcos Dorados increased by $926k over the final three months of 2018.
During the fourth quarter, Jane Street Group LLC spent approximately 1,231,000 dollars to acquire additional shares of Arcos Dorados.
This move was made to increase the company’s holdings in the company. Squarepoint Operations LLC increased its total investment in Arcos Dorados to approximately 320,000 dollars by making a new purchase during the fourth quarter.
Last but certainly not least, during the fourth quarter of 2018, Millennium Management LLC increased the proportion of Arcos Dorados stock owned by 70.4%.
Millennium Management LLC now has 3,431,374 shares of the restaurant operator’s stock, valued at $28,686,000, after making an additional purchase of 1,417,481 shares during the most recent quarter.
This brings Millennium Management LLC’s total number of shares to 3,431,374.
Institutional investors and hedge funds hold a combined total of 36.56% of the company’s shares.
Arcos Dorados Holdings, INC owns several different dining establishments, all managed by the company.
The company operates McDonald’s restaurants and sells franchises for those restaurants through its various subsidiaries in the food services industry.
In that order, its geographical divisions include Brazil, the Caribbean Division, the North Latin American Division (NOLAD), and the South Latin American Division (SLAD).