Invesco Advisers, Inc. has recently announced that it has increased stake in Arcos Dorados Holdings Inc. (NYSE:ARCO) by 2.12%. After grabbing 10.21 million shares, the institutional investor is now in possession of 0.21 million shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 7.82% having worth around $84.3 million. Moreover, TIAA-CREF Investment Management L increased its share by 0.13 million to have a control over 8.81 million shares. And Millennium Management LLC raised its holdings to 1.42 million shares by acquiring 3.43 million shares or 2.63% of the stake.
Arcos Dorados Holdings Inc. (ARCO) concluded trading on 03/15/23 at a closing price of $7.83, with 2.15 million shares of worth about $16.82 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 4.26% during that period and on Wednesday the price saw a loss of about -2.49%. Currently the company’s common shares owned by public are about 210.60M shares, out of which, 124.79M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 7 analysts are covering the ARCO stock and their offered price forecasts bring an average price target of $10.69. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $12.00 and could fall to a lowest price of $9.00. The stock’s current price level is 24.86% above of average price target set by the analysts, while a rise to estimated low would result in gain of 13.0% for the stock. However, touching the estimated high of $12.00 would mean a gain of 34.75% for the stock.
Invesco Emerging Markets All Cap, CREF Stock Account, and TIAA-CREF Emerging Markets Equity are the top 3 mutual funds which are holding stakes in Arcos Dorados Holdings Inc. Invesco Emerging Markets All Cap is currently holding 9.32 million shares of worth totaling $76.97 million. The company recently came selling -0.41 million shares which brought its stake up to 7.14% of the company’s outstanding shares. TIAA-CREF Emerging Markets Equity, after buying 6.89 million shares, have now control over 5.28% of the stake in the company. It holds 0.0 shares of worth $56.93 million.
Arcos Dorados Holdings Inc. (NYSE: ARCO) started trading at $8.21, above $0.18 from concluding price of the previous day. However, the stock later moved at a day high price of 8.38, or with a loss of -2.49%. Stock saw a price change of -7.12% in past 5 days and over the past one month there was a price change of -5.55%. Year-to-date (YTD), ARCO shares are showing a performance of -6.34% which increased to 7.11% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $6.23 but also hit the highest price of $9.04 during that period. The average intraday trading volume for Arcos Dorados Holdings Inc. shares is 799.04K. The stock is currently trading -5.41% below its 20-day simple moving average (SMA20), while that difference is down -6.40% for SMA50 and it goes to 3.31% higher than SMA200.
Invesco Advisers, Inc. acquired 10.21 million shares of Arcos Dorados Holdings Inc. having value of about $84.3 million. Data submitted at the U.S SEC by Invesco Advisers, Inc. revealed that the firm now holds 0.21 million shares in the company valued at close to $1657791.09, or have control over 2.12% stake in the company. Arcos Dorados Holdings Inc. (NYSE: ARCO) currently have 210.60M outstanding shares and institutions hold larger chunk of about 42.50% of that. Holding of mutual funds in the company is about 32.72% while other institutional holders and individual stake holders have control over 34.25% and — of the stake respectively.
The stock has a current market capitalization of $1.70B and its 3Y-monthly beta is at 0.99. PE ratio of stock for trailing 12 months is 12.57, while it has posted earnings per share of $0.62 in the same period. Its PEG reads 0.30 and has Quick Ratio of 0.90 while making debt-to-equity ratio of 3.10. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ARCO, volatility over the week remained 6.09% while standing at 3.17% over the month.
Analysts are in expectations that Arcos Dorados Holdings Inc. (ARCO) stock would likely to be making an EPS of $0.23 in the current quarter, while forecast for next quarter EPS is $0.12 and it is $0.62 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.19 which is $0.26 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.22 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 130.00% while it is estimated to increase by 9.80% in next year. EPS is likely to grow at an annualized rate of 42.56% for next 5-years, compared to annual growth of -9.90% made by the stock over the past 5-years.
Analysts at 7 brokerage firms have issued recommendations for the Arcos Dorados Holdings Inc. (ARCO)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.90. Out of those 7 Wall Street analysts, 6 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Barclays on September 27, 2022 offering an Overweight rating for the stock and assigned a target price of $9 to it. Coverage by HSBC Securities stated Arcos Dorados Holdings Inc. (ARCO) stock as a Hold in their note to investors on April 04, 2022, suggesting a price target of $8 for the stock. On March 24, 2022, BofA Securities Upgrade their recommendations, while on February 23, 2022, Credit Suisse Upgrade their ratings for the stock with a price target of $9.50. Stock get a Buy rating from Goldman on January 19, 2022.
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