Arko (NASDAQ:ARKO) Shares Up 5.4% – Here’s Why

Arko Corp. (NASDAQ:ARKO) shares shot up 5.4% during mid-day trading on Friday . The stock traded as high as $7.05 and last traded at $7.05. 49,323 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 374,268 shares. The stock had previously closed at $6.69.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company increased their target price on Arko from $5.00 to $6.25 and gave the stock an “equal weight” rating in a research note on Thursday, August 8th.

Arko Stock Up 6.9 %

The firm has a market capitalization of $827.57 million, a P/E ratio of 27.12 and a beta of 0.46. The company has a debt-to-equity ratio of 3.97, a quick ratio of 1.06 and a current ratio of 1.58. The firm’s 50-day moving average is $6.42 and its 200 day moving average is $5.85.

Arko (NASDAQ:ARKO) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). The firm had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.41 billion. Arko had a net margin of 0.39% and a return on equity of 13.12%. During the same quarter last year, the firm earned $0.11 earnings per share. As a group, equities research analysts predict that Arko Corp. will post 0.31 EPS for the current fiscal year.

Arko Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were paid a dividend of $0.03 per share. The ex-dividend date was Monday, August 19th. This represents a $0.12 annualized dividend and a dividend yield of 1.68%. Arko’s dividend payout ratio is currently 46.15%.

Institutional Investors Weigh In On Arko

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company grew its stake in shares of Arko by 5.6% in the second quarter. The Manufacturers Life Insurance Company now owns 32,893 shares of the company’s stock valued at $206,000 after buying an additional 1,734 shares in the last quarter. CWM LLC lifted its stake in Arko by 72.8% in the second quarter. CWM LLC now owns 4,791 shares of the company’s stock valued at $30,000 after acquiring an additional 2,018 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Arko by 15.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,216 shares of the company’s stock valued at $133,000 after acquiring an additional 3,092 shares during the period. Arizona State Retirement System increased its stake in shares of Arko by 27.9% during the 2nd quarter. Arizona State Retirement System now owns 18,476 shares of the company’s stock worth $116,000 after purchasing an additional 4,030 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Arko by 8.7% in the 2nd quarter. American Century Companies Inc. now owns 116,692 shares of the company’s stock valued at $732,000 after purchasing an additional 9,377 shares during the period. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Arko Company Profile

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.