Arko (NASDAQ:ARKO) Price Target Lowered to $10.00 at Raymond James

Arko (NASDAQ:ARKO) had its price target dropped by research analysts at Raymond James from $11.00 to $10.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “strong-buy” rating on the stock. Raymond James’ price target indicates a potential upside of 109.64% from the stock’s previous close.

Several other equities research analysts also recently commented on ARKO. Capital One Financial assumed coverage on shares of Arko in a research report on Thursday. They set an “overweight” rating and a $8.00 target price on the stock. Stifel Nicolaus downgraded Arko from a “buy” rating to a “hold” rating and decreased their price objective for the company from $8.50 to $7.50 in a report on Thursday, February 27th.

Arko Trading Up 7.2 %

ARKO opened at $4.77 on Friday. The company’s 50 day moving average is $4.06 and its 200-day moving average is $5.84. The company has a market cap of $547.02 million, a P/E ratio of 29.81 and a beta of 0.72. Arko has a 1-year low of $3.51 and a 1-year high of $7.84. The company has a current ratio of 1.63, a quick ratio of 1.13 and a debt-to-equity ratio of 3.86.

Arko (NASDAQ:ARKO) last posted its earnings results on Thursday, May 8th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.05. Arko had a net margin of 0.27% and a return on equity of 8.88%. The firm had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Equities research analysts predict that Arko will post 0.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arko

Hedge funds and other institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its holdings in Arko by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 748,109 shares of the company’s stock worth $2,955,000 after acquiring an additional 3,972 shares during the period. XTX Topco Ltd bought a new stake in Arko in the first quarter worth approximately $412,000. Corton Capital Inc. bought a new position in shares of Arko during the 1st quarter worth approximately $45,000. Readystate Asset Management LP grew its position 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 buying an additional 30,873 shares during the period. Finally, Allianz Asset Management GmbH bought a new stake in shares of Arko in the 1st quarter valued at $353,000. Institutional investors and hedge funds own 78.29% of the company’s stock.

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.