Arcos Dorados (NYSE:ARCO) Shares Gap Down - Here's What Happened

Arcos Dorados Holdings Inc. (NYSE:ARCO - Get Free Report)'s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $7.91, but opened at $7.70. Arcos Dorados shares last traded at $7.72, with a volume of 94,944 shares traded.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. dropped their target price on Arcos Dorados from $14.00 to $12.00 and set an "overweight" rating on the stock in a report on Friday, September 13th.

Arcos Dorados Stock Down 1.5 %

The stock has a market cap of $1.64 billion, a PE ratio of 11.13, a price-to-earnings-growth ratio of 3.69 and a beta of 1.12. The business has a 50-day moving average price of $8.69 and a 200-day moving average price of $9.02. The company has a current ratio of 0.63, a quick ratio of 0.57 and a debt-to-equity ratio of 1.40.

Arcos Dorados (NYSE:ARCO - Get Free Report) last posted its earnings results on Wednesday, November 13th. The restaurant operator reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.01. The company had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $1.13 billion. Arcos Dorados had a return on equity of 29.74% and a net margin of 3.25%. The firm's quarterly revenue was up .8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.30 earnings per share. As a group, analysts forecast that Arcos Dorados Holdings Inc. will post 0.65 earnings per share for the current year.

Hedge Funds Weigh In On Arcos Dorados

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. increased its position in Arcos Dorados by 24.6% during the 2nd quarter. Blue Trust Inc. now owns 12,307 shares of the restaurant operator's stock worth $111,000 after purchasing an additional 2,427 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Arcos Dorados in the 2nd quarter worth about $93,000. American Capital Advisory LLC lifted its holdings in shares of Arcos Dorados by 11.8% in the 2nd quarter. American Capital Advisory LLC now owns 290,411 shares of the restaurant operator's stock worth $2,614,000 after purchasing an additional 30,595 shares during the last quarter. Americana Partners LLC increased its holdings in shares of Arcos Dorados by 15.0% in the 2nd quarter. Americana Partners LLC now owns 17,204 shares of the restaurant operator's stock worth $155,000 after acquiring an additional 2,240 shares during the period. Finally, nVerses Capital LLC acquired a new stake in Arcos Dorados in the 2nd quarter valued at approximately $105,000. 55.91% of the stock is owned by institutional investors and hedge funds.

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, Curacao, Ecuador, French Guiana, Guadeloupe, Martinique, Mexico, Panama, Peru, Puerto Rico, Trinidad and Tobago, Uruguay, the U.S.