ARKO (NASDAQ:ARKO) Hits New 52-Week High – Still a Buy?

ARKO Corp. (NASDAQ:ARKO) reached a new 52-week high during trading on Wednesday . The stock traded as high as $7.97 and last traded at $7.9710, with a volume of 73560 shares trading hands. The stock had previously closed at $7.63.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Weiss Ratings downgraded shares of ARKO from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, May 21st. Zacks Research upgraded shares of ARKO from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen downgraded shares of ARKO from a “buy” rating to a “hold” rating in a research report on Saturday, May 30th. Two equities research analysts have rated the stock with a Strong Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, ARKO presently has a consensus rating of “Buy” and a consensus target price of $8.00.

ARKO Stock Up 4.9%

The company has a market capitalization of $898.08 million, a PE ratio of 42.19 and a beta of 0.98. The company’s fifty day moving average is $6.70 and its 200-day moving average is $5.79. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.19 and a current ratio of 1.62.

ARKO (NASDAQ:ARKO) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.09. The business had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.65 billion. ARKO had a net margin of 0.38% and a return on equity of 9.10%. During the same period in the prior year, the business posted ($0.12) earnings per share. As a group, analysts predict that ARKO Corp. will post 0.29 EPS for the current fiscal year.

ARKO Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.12 dividend on an annualized basis and a yield of 1.5%. ARKO’s dividend payout ratio (DPR) is currently 63.16%.

Insider Activity

In related news, General Counsel Maury Bricks sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $7.69, for a total value of $115,350.00. Following the transaction, the general counsel directly owned 182,841 shares of the company’s stock, valued at approximately $1,406,047.29. The trade was a 7.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Charles Galagher Jeff purchased 40,000 shares of the company’s stock in a transaction on Tuesday, March 17th. The stock was acquired at an average price of $5.07 per share, with a total value of $202,800.00. Following the completion of the purchase, the chief financial officer directly owned 40,000 shares in the company, valued at $202,800. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 22.50% of the stock is owned by insiders.

Hedge Funds Weigh In On ARKO

Institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada increased its holdings in ARKO by 201.9% in the 1st quarter. Royal Bank of Canada now owns 6,681 shares of the company’s stock valued at $37,000 after acquiring an additional 4,468 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of ARKO during the fourth quarter valued at about $46,000. MQS Management LLC purchased a new stake in shares of ARKO in the fourth quarter worth about $47,000. Tower Research Capital LLC TRC boosted its stake in ARKO by 193.1% during the second quarter. Tower Research Capital LLC TRC now owns 12,317 shares of the company’s stock valued at $52,000 after buying an additional 8,115 shares during the last quarter. Finally, Banco BTG Pactual S.A. bought a new position in ARKO during the fourth quarter valued at approximately $57,000. 78.29% of the stock is owned by hedge funds and other institutional investors.

About ARKO

ARKO Corp (NASDAQ: ARKO) is a downstream energy and convenience retail company based in Matthews, North Carolina. The company’s core operations encompass fuel supply, distribution and retailing through a network of terminals, independent dealer locations and company-operated convenience stores. ARKO’s fuel offerings include branded and unbranded gasoline and diesel, as well as lubricants and other petroleum products marketed under various regional and private labels.

In its retail segment, ARKO operates a portfolio of convenience stores under the Kangaroo Express banner, serving on-site customers with fuel, grab-and-go food items, beverages and everyday household essentials.