Arko (NASDAQ:ARKO) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research cut shares of Arko (NASDAQ:ARKO) from a buy rating to a hold rating in a research report released on Monday, Zacks.com reports.

According to Zacks, “ARKO Holdings Ltd. whose primary asset is a controlling stake in GPM Investments. ARKO Holdings Ltd., formerly known as Haymaker Acquisition Corp. II, is based in RICHMOND, Va. “

Separately, Capital One Financial restated an overweight rating on shares of Arko in a report on Friday, May 28th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Buy and an average price target of $12.25.

ARKO stock opened at $9.71 on Monday. Arko has a 52 week low of $7.32 and a 52 week high of $11.40. The company has a quick ratio of 1.10, a current ratio of 1.59 and a debt-to-equity ratio of 4.43. The company has a fifty day simple moving average of $9.03 and a two-hundred day simple moving average of $9.60. The firm has a market capitalization of $1.21 billion, a P/E ratio of 69.36 and a beta of 0.15.

Arko (NASDAQ:ARKO) last released its quarterly earnings data on Wednesday, August 11th. The company reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.06. As a group, analysts anticipate that Arko will post 0.37 EPS for the current year.

In related news, major shareholder Davidson Kempner Partners sold 988,474 shares of the firm’s stock in a transaction dated Thursday, September 9th. The shares were sold at an average price of $9.91, for a total value of $9,795,777.34. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 32.73% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the stock. CDAM UK Ltd purchased a new position in Arko during the 1st quarter valued at about $33,353,000. BlackRock Inc. increased its position in Arko by 20,670.0% during the 1st quarter. BlackRock Inc. now owns 1,361,056 shares of the company’s stock valued at $13,529,000 after purchasing an additional 1,354,503 shares during the period. Cannell Capital LLC purchased a new position in Arko during the 1st quarter valued at about $13,204,000. Shapiro Capital Management LLC purchased a new position in Arko during the 1st quarter valued at about $11,508,000. Finally, Phoenix Holdings Ltd. purchased a new position in Arko during the 1st quarter valued at about $10,151,000. 47.73% of the stock is currently owned by institutional investors.

About Arko

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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