Arcos Dorados Holding Inc (NYSE:ARCO) has been given a consensus recommendation of “Buy” by the six brokerages that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $9.33.
Several equities analysts have recently commented on ARCO shares. ValuEngine raised shares of Arcos Dorados from a “sell” rating to a “hold” rating in a research note on Monday, October 7th. Zacks Investment Research raised Arcos Dorados from a “hold” rating to a “buy” rating and set a $8.50 target price on the stock in a research note on Wednesday, November 27th. Finally, Bank of America upgraded Arcos Dorados from an “underperform” rating to a “buy” rating in a report on Monday, October 21st.
Several institutional investors have recently made changes to their positions in ARCO. Nuveen Asset Management LLC bought a new stake in Arcos Dorados in the second quarter valued at $151,435,000. Macquarie Group Ltd. lifted its position in shares of Arcos Dorados by 2.0% in the 2nd quarter. Macquarie Group Ltd. now owns 5,817,128 shares of the restaurant operator’s stock worth $42,349,000 after purchasing an additional 112,092 shares during the period. BlackRock Inc. lifted its position in shares of Arcos Dorados by 359.4% in the 2nd quarter. BlackRock Inc. now owns 2,550,057 shares of the restaurant operator’s stock worth $18,564,000 after purchasing an additional 1,994,915 shares during the period. River & Mercantile Asset Management LLP boosted its stake in shares of Arcos Dorados by 11.9% during the 3rd quarter. River & Mercantile Asset Management LLP now owns 901,338 shares of the restaurant operator’s stock valued at $6,043,000 after purchasing an additional 95,540 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Arcos Dorados by 2,158.6% during the 3rd quarter. Millennium Management LLC now owns 537,552 shares of the restaurant operator’s stock valued at $3,612,000 after purchasing an additional 513,752 shares in the last quarter. Institutional investors own 39.12% of the company’s stock.
Arcos Dorados Company Profile
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.
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