Arko (NASDAQ:ARKO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, Zacks.com reports. The brokerage presently has a $11.00 price target on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 12.82% from the stock’s current price.
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 reissued an “overweight” rating on shares of Arko in a report on Friday, May 28th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Arko currently has an average rating of “Buy” and a consensus price target of $12.25.
Arko (NASDAQ:ARKO) last issued its quarterly earnings data on Wednesday, August 11th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.06. On average, 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 Arko stock in a transaction that occurred on Thursday, September 9th. The stock was sold at an average price of $9.91, for a total transaction of $9,795,777.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 32.73% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. RE Advisers Corp purchased a new stake in shares of Arko in the second quarter valued at approximately $1,731,000. Man Group plc acquired a new stake in shares of Arko in the first quarter worth approximately $393,000. Diametric Capital LP acquired a new stake in shares of Arko in the first quarter worth approximately $196,000. Ergoteles LLC acquired a new stake in shares of Arko in the first quarter worth approximately $138,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Arko in the first quarter worth approximately $1,031,000. Institutional investors and hedge funds own 47.73% of the company’s stock.
Arko Company Profile
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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