ARKO (NASDAQ:ARKO) Stock Price Down 6.8% – Here’s Why

ARKO Corp. (NASDAQ:ARKO)’s stock price was down 6.8% on Friday. The company traded as low as $3.80 and last traded at $3.81. 534,719 shares traded hands during trading, a decline of 4% from the average session volume of 555,232 shares. The stock had previously closed at $4.09.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ARKO shares. Weiss Ratings cut shares of ARKO from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, September 25th. Mizuho set a $22.00 target price on shares of ARKO in a report on Tuesday, July 28th. Raymond James Financial cut shares of ARKO from a “strong-buy” rating to an “outperform” rating and cut their price target for the company from $8.00 to $7.00 in a research report on Monday, August 10th. Finally, Zacks Research upgraded ARKO from a “strong sell” rating to a “hold” rating in a report on Friday, October 9th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, ARKO presently has a consensus rating of “Hold” and an average price target of $14.50.

ARKO Price Performance

The stock has a market capitalization of $427.44 million, a P/E ratio of 54.43 and a beta of 0.93. The business’s 50 day simple moving average is $4.37 and its two-hundred day simple moving average is $6.19. The company has a quick ratio of 1.15, a current ratio of 1.60 and a debt-to-equity ratio of 1.82.

ARKO (NASDAQ:ARKO) last issued its quarterly earnings data on Friday, August 7th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.11). ARKO had a return on equity of 4.02% and a net margin of 0.19%. The company had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $1.99 billion. As a group, sell-side analysts forecast that ARKO Corp. will post 0.11 earnings per share for the current fiscal year.

ARKO Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Thursday, August 20th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Thursday, August 20th. ARKO’s payout ratio is 171.43%.

Hedge Funds Weigh In On ARKO

Several institutional investors and hedge funds have recently bought and sold shares of ARKO. BlackRock Inc. bought a new position in shares of ARKO during the 2nd quarter worth $45,154,000. Dimensional Fund Advisors LP raised its position in shares of ARKO by 7.3% in the first quarter. Dimensional Fund Advisors LP now owns 3,021,751 shares of the company’s stock valued at $16,800,000 after purchasing an additional 206,716 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of ARKO in the first quarter valued at approximately $8,220,000. Bank of New York Mellon Corp purchased a new stake in shares of ARKO during the 2nd quarter valued at approximately $6,145,000. Finally, Ancora Advisors LLC purchased a new stake in shares of ARKO during the 2nd quarter valued at approximately $5,781,000. 78.29% of the stock is owned by institutional investors.

ARKO Company Profile

ARKO Corp. (NASDAQ: ARKO) is a convenience store and fuel retail operator in the United States. Through its subsidiary GPM Investments, the company operates convenience stores that sell gasoline, diesel fuel, food, beverages, tobacco products, and other everyday consumer goods. Many locations also offer prepared food, loyalty programs, and additional retail services.

ARKO operates stores under a variety of regional and national banners, including fas mart, E-Z Mart, Scotchman, Young’s, Li’l Cricket, BreadBox, and others.