Arcos Dorados Stock Dives 6.5% Amid Downgrades and Upgrades from Analysts
Arcos Dorados Holdings Inc., the largest independent McDonald's franchisee in the world, saw its stock price drop by 6.5% on Thursday.
The company traded as low as $6.71 and last traded at $6.6850, with a total of 1,684,212 shares exchanged during trading, which is an increase of 31% from the average session volume.
This downturn comes after the Weiss Ratings downgraded Arcos Dorados' stock from 'hold (c)' to 'hold (c-)', and Zacks Research also lowered its rating to 'hold' from 'strong-buy'. However, JPMorgan Chase & Co. upgraded Arcos Dorados to an 'overweight' rating with a price objective of $10.50.
The consensus rating among analysts is 'Moderate Buy', with an average price target of $10.50. The company's debt-to-equity ratio stands at 1.14, while its quick and current ratios are 0.81 and 0.88 respectively.