ARKO (NASDAQ:ARKO) Downgraded to "Hold" Rating by Zacks Research

Key Points

• Zacks Research has downgraded ARKO from a "strong-buy" rating to a "hold" rating, reflecting a shift in market sentiment regarding the stock's potential.
• Institutional investors now hold 78.29% of ARKO’s stock, with several hedge funds acquiring new stakes during the first quarter of the year.
• As of now, ARKO has a consensus price target of $7.13 and has recently traded down by 5.1% to $4.12.

ARKO (NASDAQ:ARKO - Get Free Report) was downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued on Monday,Zacks.com reports.

Other equities analysts also recently issued research reports about the stock. Weiss Ratings restated a "sell (d+)" rating on shares of ARKO in a research report on Saturday, September 27th. Raymond James Financial set a $8.00 price target on shares of ARKO and gave the stock a "strong-buy" rating in a research note on Friday, August 8th. Finally, Wall Street Zen raised shares of ARKO from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, ARKO presently has a consensus rating of "Hold" and a consensus price target of $7.13.

ARKO Trading Down 5.1%

NASDAQ ARKO opened at $4.12 on Monday. The company has a debt-to-equity ratio of 4.07, a quick ratio of 1.11 and a current ratio of 1.55. The firm has a market cap of $464.49 million, a PE ratio of 51.51 and a beta of 0.77. ARKO has a one year low of $3.51 and a one year high of $7.84. The firm's fifty day moving average is $4.78 and its two-hundred day moving average is $4.51.

ARKO (NASDAQ:ARKO - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.04. The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.04 billion. ARKO had a net margin of 0.18% and a return on equity of 5.50%. Analysts expect that ARKO will post 0.2 earnings per share for the current year.

Institutional Investors Weigh In On ARKO

Several hedge funds have recently modified their holdings of ARKO. ABS Direct Equity Fund LLC acquired a new stake in shares of ARKO during the 1st quarter worth about $395,000. Allianz Asset Management GmbH acquired a new stake in shares of ARKO during the 1st quarter worth about $353,000. Readystate Asset Management LP boosted its stake in shares of ARKO by 12.2% during the 1st quarter. Readystate Asset Management LP now owns 283,743 shares of the company's stock worth $1,121,000 after purchasing an additional 30,873 shares during the last quarter. Corton Capital Inc. acquired a new stake in shares of ARKO during the 1st quarter worth about $45,000. Finally, XTX Topco Ltd acquired a new stake in shares of ARKO during the 1st quarter worth about $412,000. 78.29% of the stock is owned by institutional investors and hedge funds.

About ARKO

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.