Arcos Dorados (NYSE:ARCO) Sets New 52-Week High – Here’s Why

Arcos Dorados Holdings Inc. (NYSE:ARCO)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $8.98 and last traded at $8.9040, with a volume of 1038612 shares changing hands. The stock had previously closed at $8.80.

Analysts Set New Price Targets

Several research firms have recently weighed in on ARCO. JPMorgan Chase & Co. dropped their target price on shares of Arcos Dorados from $8.80 to $8.70 and set a “neutral” rating on the stock in a research report on Tuesday, November 11th. Wall Street Zen upgraded shares of Arcos Dorados from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Arcos Dorados in a research note on Monday, December 29th. Finally, Zacks Research upgraded shares of Arcos Dorados from a “strong sell” rating to a “hold” rating in a research note on Friday, November 21st. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Arcos Dorados presently has a consensus rating of “Hold” and a consensus target price of $8.70.

Arcos Dorados Price Performance

The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.81 and a current ratio of 0.89. The stock has a 50 day simple moving average of $8.00 and a 200-day simple moving average of $7.42.

Institutional Trading of Arcos Dorados

Large investors have recently added to or reduced their stakes in the business. Global Retirement Partners LLC raised its position in Arcos Dorados by 9,074.6% in the 4th quarter. Global Retirement Partners LLC now owns 5,780 shares of the restaurant operator’s stock valued at $42,000 after purchasing an additional 5,717 shares during the last quarter. Quarry LP acquired a new position in Arcos Dorados during the 3rd quarter worth approximately $45,000. Aquatic Capital Management LLC acquired a new stake in Arcos Dorados in the third quarter valued at approximately $53,000. Tudor Investment Corp ET AL bought a new stake in shares of Arcos Dorados during the third quarter worth $73,000. Finally, Tower Bridge Advisors bought a new position in shares of Arcos Dorados in the 3rd quarter valued at $75,000. 55.91% of the stock is owned by institutional investors.

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.