Arko (NASDAQ:ARKO) Receives New Coverage from Analysts at Wells Fargo & Company

Wells Fargo & Company began coverage on shares of Arko (NASDAQ:ARKOGet Rating) in a research note released on Wednesday morning, The Fly reports. The firm issued an equal weight rating and a $7.75 price target on the stock.

Separately, Zacks Investment Research lowered Arko from a buy rating to a hold rating in a research report on Friday, May 6th.

Shares of ARKO stock opened at $9.00 on Wednesday. The firm has a market capitalization of $1.10 billion, a P/E ratio of 16.98 and a beta of 0.12. Arko has a twelve month low of $7.32 and a twelve month high of $11.40. The company has a quick ratio of 1.09, a current ratio of 1.60 and a debt-to-equity ratio of 3.74. The stock’s fifty day simple moving average is $8.92 and its 200 day simple moving average is $8.78.

Arko (NASDAQ:ARKOGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). Arko had a return on equity of 32.38% and a net margin of 0.96%. During the same period in the prior year, the business posted ($0.13) EPS. As a group, equities research analysts expect that Arko will post 0.57 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Tuesday, May 31st will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Friday, May 27th. Arko’s payout ratio is presently 15.09%.

A number of institutional investors and hedge funds have recently made changes to their positions in ARKO. BlackRock Inc. lifted its holdings in Arko by 200.0% during the 3rd quarter. BlackRock Inc. now owns 6,652,621 shares of the company’s stock worth $67,190,000 after buying an additional 4,435,041 shares during the period. Phoenix Holdings Ltd. lifted its holdings in Arko by 124.3% during the 1st quarter. Phoenix Holdings Ltd. now owns 3,216,438 shares of the company’s stock worth $29,270,000 after buying an additional 1,782,581 shares during the period. Millennium Management LLC lifted its holdings in Arko by 2,572.8% during the 4th quarter. Millennium Management LLC now owns 1,199,852 shares of the company’s stock worth $10,523,000 after buying an additional 1,154,961 shares during the period. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of Arko in the 1st quarter valued at about $6,848,000. Finally, Geode Capital Management LLC lifted its stake in shares of Arko by 72.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,366,664 shares of the company’s stock valued at $13,803,000 after purchasing an additional 573,531 shares during the period. 56.50% of the stock is currently owned by hedge funds and other institutional investors.

Arko Company Profile (Get Rating)

Arko Corp. operates convenience stores in the United States. It operates through three segments: Retail, Wholesale, and GPM Petroleum. The Retail segment engages in the sale of fuel and merchandise to retail consumers. The Wholesale segment supplies fuel to third-party dealers and consignment agents.

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