Arko (NASDAQ:ARKO) PT Lowered to $5.00

Arko (NASDAQ:ARKO) had its price target cut by equities researchers at Wells Fargo & Company from $7.00 to $5.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 10.13% from the company’s previous close.

Separately, BMO Capital Markets lowered their price objective on shares of Arko from $8.00 to $7.00 and set a “market perform” rating for the company in a research report on Thursday, February 29th.

Arko Price Performance

Shares of NASDAQ ARKO traded up $0.05 during midday trading on Friday, reaching $4.54. The stock had a trading volume of 35,512 shares, compared to its average volume of 307,764. The stock has a 50-day moving average of $6.25 and a 200-day moving average of $7.24. The company has a debt-to-equity ratio of 3.77, a quick ratio of 1.03 and a current ratio of 1.54. The company has a market capitalization of $527.46 million, a price-to-earnings ratio of 18.04 and a beta of 0.28. Arko has a 12-month low of $4.45 and a 12-month high of $8.74.

Arko (NASDAQ:ARKO) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. The firm had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.40 billion. Arko had a net margin of 0.37% and a return on equity of 12.32%. During the same period in the prior year, the company posted $0.09 earnings per share. As a group, research analysts anticipate that Arko will post 0.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other Arko news, major shareholder Morris Willner sold 2,792,631 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $6.76, for a total transaction of $18,878,185.56. Following the sale, the insider now owns 11,683,980 shares of the company’s stock, valued at approximately $78,983,704.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 32.16% of the stock is owned by insiders.

Institutional Trading of Arko

Several institutional investors and hedge funds have recently bought and sold shares of ARKO. Phoenix Holdings Ltd. acquired a new stake in Arko during the 3rd quarter valued at approximately $43,726,000. Millennium Management LLC lifted its stake in shares of Arko by 123.6% in the 4th quarter. Millennium Management LLC now owns 815,081 shares of the company’s stock valued at $7,059,000 after purchasing an additional 450,529 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Arko by 15.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,642,951 shares of the company’s stock valued at $13,554,000 after purchasing an additional 221,619 shares during the period. Ergoteles LLC acquired a new position in shares of Arko in the 1st quarter valued at $1,709,000. Finally, BlackRock Inc. lifted its stake in shares of Arko by 3.2% in the 2nd quarter. BlackRock Inc. now owns 5,694,530 shares of the company’s stock valued at $45,272,000 after purchasing an additional 174,306 shares during the period. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Arko Company Profile

Arko Corp. operates convenience stores in the United States. It operates through Retail, Wholesale, Fleet Fueling, and GPMP segments. The Retail segment engages in the sale of fuel and merchandise to retail consumers. Its Wholesale segment supplies fuel to third-party dealers and consignment agents. The Fleet Fueling segment supplies fuel to proprietary and third-party cardlock, and issuance of proprietary fuel cards.