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Hot Stocks
Arko Corp. announces agreement to acquire all assets of TEG for $375M » 08:06
09/12/22
09/12
08:06
09/12/22
08:06
ARKO

Arko Corp.

$10.37 /

+0.23 (+2.27%)

ARKO announced that GPM…

ARKO announced that GPM Investment, a wholly owned subsidiary of ARKO, and certain of GPM's subsidiaries have agreed to acquire from Transit Energy Group, TEG, approximately 150 convenience stores, fuel supply rights to approximately 200 dealers, commercial, government, and industrial customers, as well as TEG's bulk storage, distribution and transportation assets, all in the Southeastern United States. The purchase price is approximately $375M plus the value of inventory, of which $50M is deferred and payable in two annual payments of $25M, which ARKO may elect to pay in either cash or, subject to certain conditions, shares of ARKO's common stock, on the first and second anniversaries of the closing. At closing, ARKO intends to finance from its own sources approximately $60M of the cash consideration plus the value of inventory and other closing adjustments. The remaining approximately $265 million is expected to be funded by Oak Street Real Estate Capital, a Division of Blue Owl Capital as part of the previously announced existing $1.15B agreement with the Company, according to which Oak Street is expected to acquire the real estate assets to be acquired from TEG as part of the transaction and the Company expects to lease the real estate assets from Oak Street. "We believe this significant, accretive acquisition will drive strategic growth with the addition of an exceptional team, well-known stores and other assets to our Family of Community Brands," said Arie Kotler, President, Chairman and Chief Executive Officer of ARKO. "A deal of this magnitude complements our core capabilities and will create long-term value for ARKO stockholders and valuable synergies given our existing footprint and proven strategy of adding value to strong local brands while keeping jobs in place." The closing of the transaction is subject to fulfillment of conditions precedent. There is no certainty that the transaction will close.

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ARKO Arko Corp.
$10.37 /

+0.23 (+2.27%)

ARKO Arko Corp.
$10.37 /

+0.23 (+2.27%)

05/25/22 Wells Fargo
Arko Corp. initiated with an Equal Weight at Wells Fargo
ARKO Arko Corp.
$10.37 /

+0.23 (+2.27%)

ARKO Arko Corp.
$10.37 /

+0.23 (+2.27%)

Over a month ago
Earnings
Arko Corp. reports Q2 EPS 24c, consensus 19c » 16:46
08/08/22
08/08
16:46
08/08/22
16:46
ARKO

Arko Corp.

$9.37 /

+0.115 (+1.24%)

Reports Q2 revenue…

Reports Q2 revenue $2.54B, consensus $2.38B. "ARKO has continued to successfully execute our growth strategy, delivering for our loyal customers while creating long-term value for our stockholders. This quarter's record results are a testament to our ability to manage margin and volume while staying competitive," said Arie Kotler, President, Chairman and Chief Executive Officer of ARKO. "While we delivered excellent results in an environment of higher fuel prices, we believe that our fuel strategy also enables strong results as fuel prices decline. Despite inflation pressures, we kept customers coming to our Family of Community Brands with compelling offerings, growing same store merchandise sales in key categories while increasing margins. As these excellent financial results show, our differentiated business model is very resilient, and I believe we are well-positioned to continue our growth."

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ARKO Arko Corp.
$9.37 /

+0.115 (+1.24%)

ARKO Arko Corp.
$9.37 /

+0.115 (+1.24%)

05/25/22 Wells Fargo
Arko Corp. initiated with an Equal Weight at Wells Fargo
ARKO Arko Corp.
$9.37 /

+0.115 (+1.24%)

ARKO Arko Corp.
$9.37 /

+0.115 (+1.24%)

Hot Stocks
Arko Corp. closes 21st acquisition with purchase of Quarles » 08:15
07/25/22
07/25
08:15
07/25/22
08:15
ARKO

Arko Corp.

$8.77 /

-0.2 (-2.23%)

ARKO announced that GPM…

ARKO announced that GPM Investments, a wholly owned subsidiary of ARKO, acquired from Quarles Petroleum certain assets, including 121 proprietary Quarles-branded cardlock sites, management of 63 third party cardlock sites for fleet fueling operations, 46 independent dealer locations, including certain lessee-dealer sites, and a small transportation fleet. "We plan to continue to pursue acquisitions like the Quarles Acquisition as we focus on strategic growth that generates long-term shareholder value," said Arie Kotler, President and CEO of ARKO. "The acquired Quarles assets comprise a complementary business that has operated continuously for more than 80 years, and we believe we can grow and expand the Company's fleet fueling platform and continue to provide best-in-class fuel services and solutions to our customers." The Quarles Acquisition is ARKO's 21st acquisition since 2013. The Quarles Acquisition is expected to add approximately 160M gallons, primarily diesel, to the approximately two billion gallons ARKO currently sells annually, as well as fleet fueling card operations that are expected to facilitate the sale of approximately 50M gallons at third-party locations nationwide.

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ARKO Arko Corp.
$8.77 /

-0.2 (-2.23%)

ARKO Arko Corp.
$8.77 /

-0.2 (-2.23%)

05/25/22 Wells Fargo
Arko Corp. initiated with an Equal Weight at Wells Fargo
ARKO Arko Corp.
$8.77 /

-0.2 (-2.23%)

ARKO Arko Corp.
$8.77 /

-0.2 (-2.23%)

Over a quarter ago
On The Fly
Street Wrap: Today's Top 15 Upgrades, Downgrades, Initiations » 09:54
05/25/22
05/25
09:54
05/25/22
09:54
CASY

Casey's General Stores

$202.31 /

+0.86 (+0.43%)

, CME

CME Group

$193.50 /

+2.06 (+1.08%)

, APD

Air Products

$238.93 /

+2.2 (+0.93%)

, FANG

Diamondback Energy

$138.07 /

+2.25 (+1.66%)

, KRC

Kilroy Realty

$60.53 /

+1.13 (+1.90%)

, SBRA

Sabra Health Care

$13.73 /

+0.37 (+2.77%)

, BBY

Best Buy

$74.88 /

+1.37 (+1.86%)

, FSR

Fisker

$9.58 /

-0.03 (-0.31%)

, TWOU

2U

$9.41 /

-1.19 (-11.23%)

, DVN

Devon Energy

$70.62 /

+0.19 (+0.27%)

, VRCA

Verrica Pharmaceuticals

$2.37 /

-3.185 (-57.34%)

, ANCTF

Alimentation Couche-Tard

$43.00 /

-1.5 (-3.37%)

, MUSA

Murphy USA

$242.49 /

+0.33 (+0.14%)

, ARKO

Arko Corp.

$8.49 /

-0.03 (-0.35%)

, GNRC

Generac

$221.51 /

+5.82 (+2.70%)

, WBX

Wallbox

$9.83 /

-0.025 (-0.25%)

, ALGM

Allegro MicroSystems

$23.85 /

+0.13 (+0.55%)

, PRCH

Porch Group

$3.94 /

+0.105 (+2.74%)

Institutional investors…

ShowHide Related Items >><<
WBX Wallbox
$9.83 /

-0.025 (-0.25%)

VRCA Verrica Pharmaceuticals
$2.37 /

-3.185 (-57.34%)

TWOU 2U
$9.41 /

-1.19 (-11.23%)

SBRA Sabra Health Care
$13.73 /

+0.37 (+2.77%)

PRCH Porch Group
$3.94 /

+0.105 (+2.74%)

MUSA Murphy USA
$242.49 /

+0.33 (+0.14%)

KRC Kilroy Realty
$60.53 /

+1.13 (+1.90%)

GNRC Generac
$221.51 /

+5.82 (+2.70%)

FSR Fisker
$9.58 /

-0.03 (-0.31%)

FANG Diamondback Energy
$138.07 /

+2.25 (+1.66%)

DVN Devon Energy
$70.62 /

+0.19 (+0.27%)

CME CME Group
$193.50 /

+2.06 (+1.08%)

CASY Casey's General Stores
$202.31 /

+0.86 (+0.43%)

BBY Best Buy
$74.88 /

+1.37 (+1.86%)

ARKO Arko Corp.
$8.49 /

-0.03 (-0.35%)

APD Air Products
$238.93 /

+2.2 (+0.93%)

ANCTF Alimentation Couche-Tard
$43.00 /

-1.5 (-3.37%)

ALGM Allegro MicroSystems
$23.85 /

+0.13 (+0.55%)

CASY Casey's General Stores
$202.31 /

+0.86 (+0.43%)

05/25/22 Wells Fargo
Casey's General Stores initiated with an Overweight at Wells Fargo
03/10/22 Deutsche Bank
Casey's General Stores price target raised to $259 from $257 at Deutsche Bank
01/03/22 Stephens
Wendy's, Kirby and Vizio among Stephens' 2022 Best Ideas
12/09/21 Deutsche Bank
Casey's General Stores price target lowered to $256 from $264 at Deutsche Bank
CME CME Group
$193.50 /

+2.06 (+1.08%)

05/25/22 Oppenheimer
CME Group upgraded to Outperform from Perform at Oppenheimer
05/19/22 Deutsche Bank
CME Group price target lowered to $210 from $262 at Deutsche Bank
05/16/22 Argus
CME Group upgraded to Buy at Argus on higher rate and energy contract volumes
05/16/22 Argus
CME Group upgraded to Buy from Hold at Argus
APD Air Products
$238.93 /

+2.2 (+0.93%)

05/25/22 Atlantic Equities
Atlantic Equities upgrades Air Products on prospects of share recovery
05/25/22 Atlantic Equities
Air Products upgraded to Overweight from Neutral at Atlantic Equities
05/20/22 Credit Suisse
Air Products assumed with an Outperform at Credit Suisse
05/11/22 Wells Fargo
Air Products downgraded on mega project focus at Wells Fargo
FANG Diamondback Energy
$138.07 /

+2.25 (+1.66%)

05/25/22 Barclays
Diamondback Energy upgraded to Overweight from Equal Weight at Barclays
05/17/22 Wells Fargo
Diamondback Energy price target lowered to $200 from $204 at Wells Fargo
04/25/22 Susquehanna
Diamondback Energy price target raised to $167 from $152 at Susquehanna
04/21/22 Truist
Diamondback Energy price target raised to $200 from $170 at Truist
KRC Kilroy Realty
$60.53 /

+1.13 (+1.90%)

05/25/22 Goldman Sachs
Kilroy Realty upgraded to Buy from Neutral at Goldman Sachs
04/22/22 Mizuho
Mizuho upgrades Boston Properties, names top office REIT pick
04/14/22 Deutsche Bank
Kilroy Realty price target raised to $75 from $74 at Deutsche Bank
03/03/22 Evercore ISI
Evercore ISI shakes up Office REIT ratings with one upgrade, two downgrades
SBRA Sabra Health Care
$13.73 /

+0.37 (+2.77%)

05/25/22 Mizuho
Sabra Health Care upgraded to Buy from Neutral at Mizuho
04/18/22 Barclays
Sabra Health Care downgraded to Equal Weight from Overweight at Barclays
03/11/22 BofA
Sabra Health Care upgraded to Neutral from Underperform at BofA
02/22/22 Barclays
Sabra Health Care price target lowered to $16 from $19 at Barclays
BBY Best Buy
$74.88 /

+1.37 (+1.86%)

05/25/22 DA Davidson
Best Buy price target raised to $110 from $107 at DA Davidson
05/25/22 Guggenheim
Best Buy price target lowered to $100 from $130 at Guggenheim
05/25/22 Wedbush
Best Buy price target lowered to $75 from $80 at Wedbush
05/25/22 Barclays
Barclays downgrades Best Buy to Equal Weight on 'optimistic' guidance
FSR Fisker
$9.58 /

-0.03 (-0.31%)

05/25/22 Tudor Pickering
Fisker downgraded to Hold from Buy at Tudor Pickering
05/17/22 Credit Suisse
Fisker price target lowered to $20 from $25 at Credit Suisse
05/05/22 Cowen
Fisker price target lowered to $19 from $28 at Cowen
05/05/22 Barclays
Fisker price target lowered to $14 from $16 at Barclays
TWOU 2U
$9.41 /

-1.19 (-11.23%)

05/25/22 Piper Sandler
2U downgraded to Underweight from Neutral at Piper Sandler
05/09/22 Citi
Citi opens 'positive Catalyst Watch' on 2U, trims price target to $40
05/06/22 Barrington
2U price target lowered to $16 from $25 at Barrington
05/06/22 Needham
2U price target lowered to $19 from $28 at Needham
DVN Devon Energy
$70.62 /

+0.19 (+0.27%)

05/25/22 Barclays
Devon Energy downgraded to Equal Weight from Overweight at Barclays
05/24/22 Johnson Rice
Devon Energy downgraded to Accumulate from Buy at Johnson Rice
05/09/22 Raymond James
Devon Energy price target raised to $90 from $85 at Raymond James
05/04/22 Truist
Devon Energy price target raised to $100 from $91 at Truist
VRCA Verrica Pharmaceuticals
$2.37 /

-3.185 (-57.34%)

05/25/22 Needham
Verrica Pharmaceuticals downgraded to Hold at Needham after CRL
05/25/22 Needham
Verrica Pharmaceuticals downgraded to Hold from Buy at Needham
05/25/22 RBC Capital
Verrica downgraded to Sector Perform from Outperform at RBC Capital
03/10/22 Brookline
Verrica Pharmaceuticals initiated with a Buy at Brookline
ANCTF Alimentation Couche-Tard
$43.00 /

-1.5 (-3.37%)

05/25/22 Wells Fargo
Alimentation Couche-Tard initiated with an Overweight at Wells Fargo
05/20/22 RBC Capital
Alimentation Couche-Tard price target raised to C$77 from C$73 at RBC Capital
03/22/22 Desjardins
Alimentation Couche-Tard price target raised to C$60 from C$59 at Desjardins
03/17/22 BMO Capital
Alimentation Couche-Tard price target raised to C$65 at BMO Capital
MUSA Murphy USA
$242.49 /

+0.33 (+0.14%)

05/25/22 Wells Fargo
Murphy USA initiated with an Equal Weight at Wells Fargo
04/19/22 Raymond James
Murphy USA price target raised to $260 from $215 at Raymond James
07/26/21 Raymond James
Murphy USA upgraded to Outperform from Market Perform at Raymond James
ARKO Arko Corp.
$8.49 /

-0.03 (-0.35%)

05/25/22 Wells Fargo
Arko Corp. initiated with an Equal Weight at Wells Fargo
GNRC Generac
$221.51 /

+5.82 (+2.70%)

05/25/22 Northland
Generac initiated with an Outperform at Northland
05/24/22 Roth Capital
Generac price target lowered to $320 from $555 at Roth Capital
05/23/22 Stephens
Generac's current level offers 'compelling entry point,' says Stephens
05/06/22 Guggenheim
Generac price target raised to $561 from $533 at Guggenheim
WBX Wallbox
$9.83 /

-0.025 (-0.25%)

05/25/22 Cowen
Wallbox initiated with an Outperform at Cowen
05/18/22 UBS
Wallbox price target lowered to $18 from $25 at UBS
03/31/22 Chardan
Wallbox initiated with a Buy at Chardan
12/06/21 UBS
Wallbox started with a Buy at UBS on low-risk residential EV charging potential
ALGM Allegro MicroSystems
$23.85 /

+0.13 (+0.55%)

05/25/22 Cowen
Allegro MicroSystems initiated with an Outperform at Cowen
05/11/22 Mizuho
Allegro MicroSystems price target lowered to $42 from $44 at Mizuho
04/25/22 Barclays
Allegro MicroSystems price target lowered to $31 from $35 at Barclays
04/20/22 Mizuho
Allegro MicroSystems price target lowered to $44 from $45 at Mizuho
PRCH Porch Group
$3.94 /

+0.105 (+2.74%)

05/25/22 Compass Point
Compass Point starts Porch Group at Buy, sees competitive advantages in network
05/25/22 Compass Point
Porch Group initiated with a Buy at Compass Point
05/23/22 JPMorgan
Porch Group initiated with an Overweight at JPMorgan
05/11/22 Craig-Hallum
Porch Group price target lowered to $8 from $13 at Craig-Hallum
VRCA Verrica Pharmaceuticals
$2.37 /

-3.185 (-57.34%)

TWOU 2U
$9.41 /

-1.19 (-11.23%)

SBRA Sabra Health Care
$13.73 /

+0.37 (+2.77%)

PRCH Porch Group
$3.94 /

+0.105 (+2.74%)

MUSA Murphy USA
$242.49 /

+0.33 (+0.14%)

KRC Kilroy Realty
$60.53 /

+1.13 (+1.90%)

GNRC Generac
$221.51 /

+5.82 (+2.70%)

FSR Fisker
$9.58 /

-0.03 (-0.31%)

FANG Diamondback Energy
$138.07 /

+2.25 (+1.66%)

DVN Devon Energy
$70.62 /

+0.19 (+0.27%)

CME CME Group
$193.50 /

+2.06 (+1.08%)

CASY Casey's General Stores
$202.31 /

+0.86 (+0.43%)

BBY Best Buy
$74.88 /

+1.37 (+1.86%)

ARKO Arko Corp.
$8.49 /

-0.03 (-0.35%)

APD Air Products
$238.93 /

+2.2 (+0.93%)

ALGM Allegro MicroSystems
$23.85 /

+0.13 (+0.55%)

  • 13
    Oct
TWOU 2U
$9.41 /

-1.19 (-11.23%)

FSR Fisker
$9.58 /

-0.03 (-0.31%)

BBY Best Buy
$74.88 /

+1.37 (+1.86%)

APD Air Products
$238.93 /

+2.2 (+0.93%)

ANCTF Alimentation Couche-Tard
$43.00 /

-1.5 (-3.37%)

VRCA Verrica Pharmaceuticals
$2.37 /

-3.185 (-57.34%)

TWOU 2U
$9.41 /

-1.19 (-11.23%)

PRCH Porch Group
$3.94 /

+0.105 (+2.74%)

KRC Kilroy Realty
$60.53 /

+1.13 (+1.90%)

GNRC Generac
$221.51 /

+5.82 (+2.70%)

FSR Fisker
$9.58 /

-0.03 (-0.31%)

FANG Diamondback Energy
$138.07 /

+2.25 (+1.66%)

CASY Casey's General Stores
$202.31 /

+0.86 (+0.43%)

BBY Best Buy
$74.88 /

+1.37 (+1.86%)

APD Air Products
$238.93 /

+2.2 (+0.93%)

ANCTF Alimentation Couche-Tard
$43.00 /

-1.5 (-3.37%)

WBX Wallbox
$9.83 /

-0.025 (-0.25%)

TWOU 2U
$9.41 /

-1.19 (-11.23%)

GNRC Generac
$221.51 /

+5.82 (+2.70%)

FSR Fisker
$9.58 /

-0.03 (-0.31%)

FANG Diamondback Energy
$138.07 /

+2.25 (+1.66%)

DVN Devon Energy
$70.62 /

+0.19 (+0.27%)

CASY Casey's General Stores
$202.31 /

+0.86 (+0.43%)

BBY Best Buy
$74.88 /

+1.37 (+1.86%)

Initiation
Arko Corp. initiated with an Equal Weight at Wells Fargo » 06:44
05/25/22
05/25
06:44
05/25/22
06:44
ARKO

Arko Corp.

$8.51 /

+0.06 (+0.71%)

Wells Fargo analyst…

Wells Fargo analyst Anthony Bonadio initiated coverage of Arko Corp. with an Equal Weight rating and $7.75 price target. The analyst believes there is plenty of opportunity to unlock value in this highly acquisitive name, but its short track record as a public company and execution risk leave him on the sidelines for now. Gaps in per store productivity and lagging comps both point to upside potential if the company can gain traction with strategic initiatives, Bonadio contends. The analyst thinks the company is taking the right steps as it begins to remodel stores, enhances its prepared food offering, and continues to scale, but most of these efforts remain in the early innings and are not without risk.

ShowHide Related Items >><<
ARKO Arko Corp.
$8.51 /

+0.06 (+0.71%)

ARKO Arko Corp.
$8.51 /

+0.06 (+0.71%)

Earnings
Arko Corp. reports Q1 EPS 0c, consensus 2c » 07:16
05/04/22
05/04
07:16
05/04/22
07:16
ARKO

Arko Corp.

$9.57 /

+0.01 (+0.10%)

Reports Q1 revenues…

Reports Q1 revenues $1.97B, consensus $1.93B. "ARKO had a great quarter, once again posting a quarter versus quarter double-digit increase in adjusted EBITDA as our growth story continues with excellent results," said Arie Kotler, President, Chairman and Chief Executive Officer of ARKO. "We are focused on disciplined capital allocation, with substantial liquidity that positions us well to pursue growth opportunities externally and through strategic investments in our stores and operations. In a rapidly changing economic environment, I believe that we are positioned to continue to exceed our customers' expectations, deliver strong growth, and create stockholder value over the long-term."

ShowHide Related Items >><<
ARKO Arko Corp.
$9.57 /

+0.01 (+0.10%)

ARKO Arko Corp.
$9.57 /

+0.01 (+0.10%)

Hot Stocks
Arko Corp.'s GPM secures $1.15B real property commitment from Oak Street » 08:10
04/13/22
04/13
08:10
04/13/22
08:10
ARKO

Arko Corp.

$9.09 /

-0.09 (-0.98%)

, OWL

Blue Owl Capital

$13.39 /

+0.035 (+0.26%)

GPM Investments, a wholly…

GPM Investments, a wholly owned subsidiary of Arko Corp. (ARKO) extended its existing $1B agreement with Chicago-based real estate investment firm Oak Street Real Estate Capital, a division of Blue Owl Capital (OWL), by one-year, and the extended agreement provides aggregate availability in the amount of $1.15B during the second year of the term. ARKO and Oak Street extended by one year an agreement originally signed in May 2021, in which Oak Street agreed to purchase and lease real estate to GPM or its affiliates. In addition to the $253M of real estate purchased by Oak Street under the agreement, and the $130M of real estate expected to be purchased in the recently announced acquisition of the fleet fueling card lock and distribution assets of Quarles Petroleum, Oak Street has committed up to $1.15B for the second year of the term, subject to the terms and conditions of the agreement.

ShowHide Related Items >><<
OWL Blue Owl Capital
$13.39 /

+0.035 (+0.26%)

ARKO Arko Corp.
$9.09 /

-0.09 (-0.98%)

ARKO Arko Corp.
$9.09 /

-0.09 (-0.98%)

OWL Blue Owl Capital
$13.39 /

+0.035 (+0.26%)

01/24/22 BofA
Blue Owl Capital initiated with a Buy at BofA
01/24/22 BofA
Blue Owl Capital initiated with a Buy at BofA
01/03/22 Goldman Sachs
Blue Owl Capital upgraded to Conviction Buy from Buy at Goldman Sachs
12/14/21 UBS
Blue Owl Capital initiated with a Buy at UBS
OWL Blue Owl Capital
$13.39 /

+0.035 (+0.26%)

ARKO Arko Corp.
$9.09 /

-0.09 (-0.98%)

  • 08
    Dec
OWL Blue Owl Capital
$13.39 /

+0.035 (+0.26%)

OWL Blue Owl Capital
$13.39 /

+0.035 (+0.26%)

Hot Stocks
Arko Corp. partners with JDC to support Ukranian refugees » 08:06
04/12/22
04/12
08:06
04/12/22
08:06
ARKO

Arko Corp.

$9.18 /

+0.035 (+0.38%)

GPM Investments is…

GPM Investments is teaming up with JDC, a leading global humanitarian organization, to raise funds to help alleviate the growing refugee crisis in Ukraine and neighboring countries. Millions of Ukrainians have already fled the country, a number expected to continue to rise. Those who remain in Ukraine are suffering due to the ongoing war and are also in need of assistance. From 4/11/2022 to 6/12/2022, GPM associates across all company-operated locations will sell pinups in donation amounts of $1, $5, and $10. GPM is also partnering with its supplier community and raising additional dollars through their generosity. All proceeds will be matched dollar for dollar up to $1 million by a generous JDC donor.

ShowHide Related Items >><<
ARKO Arko Corp.
$9.18 /

+0.035 (+0.38%)

ARKO Arko Corp.
$9.18 /

+0.035 (+0.38%)

Hot Stocks
Arko Corp.'s GPM appoints Ruth Ann Lilly as SVP, marketing, merchandising » 08:04
03/16/22
03/16
08:04
03/16/22
08:04
ARKO

Arko Corp.

$8.27 /

+0.06 (+0.73%)

GPM Investments announced…

GPM Investments announced its promotion of Ruth Ann Lilly to Senior Vice President of Marketing and Merchandising. Lilly is a seasoned executive with 31 years' experience in the convenience store industry. She joined GPM in 2017 as Senior Category Manager of tobacco.

ShowHide Related Items >><<
ARKO Arko Corp.
$8.27 /

+0.06 (+0.73%)

ARKO Arko Corp.
$8.27 /

+0.06 (+0.73%)

03/19/21 Stifel
Arko Corp. initiated with a Buy at Stifel
ARKO Arko Corp.
$8.27 /

+0.06 (+0.73%)

Hot Stocks
Arko o acquire fleet fueling cardlock, fuel distribution business from Quarles » 07:23
02/23/22
02/23
07:23
02/23/22
07:23
ARKO

Arko Corp.

$7.59 /

-0.65 (-7.89%)

ARKO Corp. announced that…

ARKO Corp. announced that GPM, a subsidiary of ARKO, has entered into an agreement with Quarles Petroleum for the acquisition of certain assets, including 121 branded and 64 contracted cardlock sites, which are strategically located unmanned fuel sites located on high-traffic corridors in the mid-Atlantic region, at which customers purchase fuel with fleet cards. This acquisition is part of ARKO's strategic focus on growth and generating long-term shareholder value with its dual convenience and wholesale platform. At the time of signing an asset purchase agreement, using estimated forward-looking non-GAAP measures, the Company expects that this acquisition will add approximately $17.3M of adjusted EBITDA on an annualized basis after incremental rent of approximately $7.7M to be paid to Oak Street Real Estate Capital, LLC, the private equity real estate firm who will fund approximately $130M of the purchase price. The acquisition will add approximately 200 million gallons to the approximately 2 billion gallons ARKO currently sells annually. The closing of the transaction is subject to fulfillment of conditions precedent and the completion of various transition planning matters. The transaction is expected to close during the second quarter of 2022. There is no certainty that the transaction will close.

ShowHide Related Items >><<
ARKO Arko Corp.
$7.59 /

-0.65 (-7.89%)

ARKO Arko Corp.
$7.59 /

-0.65 (-7.89%)

03/19/21 Stifel
Arko Corp. initiated with a Buy at Stifel
ARKO Arko Corp.
$7.59 /

-0.65 (-7.89%)

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Get real-time updates on events that are moving the market—from conferences and calls to syndicate announcements.
News focused on the companies in your portfolio
Create up to 12 portfolios with 150 stocks each, and see how active they are in market news.