ARKO (NASDAQ:ARKO) Share Price Crosses Above 50-Day Moving Average After Analyst Downgrade

Shares of ARKO Corp. (NASDAQ:ARKO – Get Free Report) passed above its 50-day moving average during trading on Monday after Zacks Research upgraded the stock from a strong sell rating to a hold rating. The stock has a 50-day moving average of $4.19 and traded as high as $4.29. ARKO shares last traded at $4.20, with a volume of 1,014,018 shares trading hands.

Other research analysts also recently issued research reports about the company. Weiss Ratings downgraded ARKO from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, September 25th. Raymond James Financial lowered ARKO from a “strong-buy” rating to an “outperform” rating and lowered their price target for the company from $8.00 to $7.00 in a research report on Monday, August 10th. Finally, Mizuho set a $22.00 price objective on ARKO in a report on Tuesday, July 28th. One analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, ARKO presently has a consensus rating of “Reduce” and an average price target of $14.50.

View Our Latest Report on ARKO

Hedge Funds Weigh In On ARKO

Several hedge funds and other institutional investors have recently modified their holdings of ARKO. State of Wyoming lifted its holdings in ARKO by 5.6% in the first quarter. State of Wyoming now owns 76,806 shares of the company’s stock worth $427,000 after buying an additional 4,057 shares during the period. Royal Bank of Canada raised its position in shares of ARKO by 201.9% in the 1st quarter. Royal Bank of Canada now owns 6,681 shares of the company’s stock worth $37,000 after acquiring an additional 4,468 shares in the last quarter. Legal & General Group Plc purchased a new position in shares of ARKO in the 2nd quarter valued at approximately $58,000. Global Retirement Partners LLC purchased a new position in shares of ARKO in the 3rd quarter valued at approximately $42,000. Finally, Walleye Capital LLC purchased a new position in shares of ARKO in the 1st quarter valued at approximately $69,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

ARKO Price Performance

The company has a quick ratio of 1.02, a current ratio of 1.47 and a debt-to-equity ratio of 1.68. The company has a market capitalization of $475.64 million, a P/E ratio of 84.82 and a beta of 0.99. The company has a 50-day moving average of $4.18 and a two-hundred day moving average of $5.93.

ARKO (NASDAQ:ARKO – Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.04). The firm had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.02 billion. ARKO had a return on equity of 2.87% and a net margin of 0.14%. On average, research analysts predict that ARKO Corp. will post 0.09 EPS for the current year.

ARKO Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Friday, November 20th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Friday, November 20th. ARKO’s dividend payout ratio (DPR) is presently 240.00%.

ARKO Company Profile

(Get Free Report)

ARKO Corp. is a U.S. convenience-store operator and fuel distributor. Through its subsidiary GPM Investments, the company runs convenience stores that sell fuel, food, beverages, tobacco products and other everyday goods, as well as offering services such as prepared food and loyalty programs. ARKO’s stores operate under a range of banners, including fas mart, E-Z Mart, Scotchman and Village Pantry. The company also distributes fuel to independently operated locations and serves commercial customers through fuel and related services.

Further Reading

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