Shares of Aramark Holdings Corp. (NYSE:ARMK) have been assigned a consensus recommendation of “Buy” from the fourteen brokerages that are covering the firm. Two analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $41.08.
Several research firms have recently commented on ARMK. Zacks Investment Research raised shares of Aramark Holdings Corp. from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research report on Tuesday. Barclays PLC upped their price objective on shares of Aramark Holdings Corp. from $37.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, August 11th. JPMorgan Chase & Co. upped their price objective on shares of Aramark Holdings Corp. from $37.00 to $44.00 and gave the stock an “overweight” rating in a research report on Thursday, August 11th. Morgan Stanley set a $41.00 price objective on shares of Aramark Holdings Corp. and gave the stock a “hold” rating in a research report on Thursday, August 11th. Finally, RBC Capital Markets reaffirmed a “top pick” rating and issued a $42.00 price objective (up from $40.00) on shares of Aramark Holdings Corp. in a research report on Saturday, August 13th.
In related news, EVP Stephen R. Reynolds sold 56,709 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $36.97, for a total transaction of $2,096,531.73. Following the sale, the executive vice president now directly owns 171,175 shares in the company, valued at approximately $6,328,339.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.50% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Aramark Holdings Corp. during the fourth quarter worth approximately $35,509,000. Ngam Advisors L.P. purchased a new stake in Aramark Holdings Corp. during the first quarter valued at about $676,000. Prudential Financial Inc. purchased a new stake in Aramark Holdings Corp. during the first quarter valued at about $443,000. BlackRock Inc. boosted its stake in Aramark Holdings Corp. by 18.8% in the first quarter. BlackRock Inc. now owns 181,091 shares of the company’s stock valued at $5,998,000 after buying an additional 28,622 shares in the last quarter. Finally, BlackRock Group LTD boosted its stake in Aramark Holdings Corp. by 3.9% in the first quarter. BlackRock Group LTD now owns 1,145,014 shares of the company’s stock valued at $37,922,000 after buying an additional 42,561 shares in the last quarter. Institutional investors own 94.26% of the company’s stock.
Aramark Holdings Corp. (NYSE:ARMK) traded down 1.09% during midday trading on Wednesday, hitting $37.15. 717,642 shares of the stock were exchanged. The firm has a market capitalization of $9.06 billion, a P/E ratio of 35.38 and a beta of 0.57. The firm’s 50-day moving average price is $37.57 and its 200 day moving average price is $34.88. Aramark Holdings Corp. has a 1-year low of $29.18 and a 1-year high of $38.30.
Aramark Holdings Corp. (NYSE:ARMK) last posted its earnings results on Wednesday, August 10th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.32 by $0.02. The company earned $3.59 billion during the quarter, compared to the consensus estimate of $3.58 billion. Aramark Holdings Corp. had a net margin of 1.81% and a return on equity of 18.92%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.29 earnings per share. Analysts expect that Aramark Holdings Corp. will post $1.71 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Tuesday, August 16th were paid a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date was Friday, August 12th. Aramark Holdings Corp.’s payout ratio is currently 35.85%.
About Aramark Holdings Corp.
Aramark provides food, facilities and uniform services to education, healthcare, business and industry, and sports, leisure and corrections clients. The Company operates through three segments: Food and Support Services North America (FSS North America), Food and Support Services International (FSS International) and Uniform and Career Apparel (Uniform).
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