Zacks Investment Research lowered shares of Aramark (NYSE:ARMK) from a buy rating to a hold rating in a research note issued to investors on Tuesday.
According to Zacks, “ARAMARK Holdings Corporation offers food services, facilities management, uniform and career apparel to health care institutions, universities, school districts, stadiums and businesses. It operates primarily in three segments: Food and Support Services North America, Food and Support Services International and Uniform and Career Apparel segment. The company’s FSS North America and FSS International segment provides food, refreshment, specialized dietary and support services, including facility maintenance and housekeeping. Uniform segment provides rental, sale, cleaning, maintenance and delivery of personalized uniform and career apparel and other textile items. It operates primarily in North America, United Kingdom, Germany, Chile and Ireland. ARAMARK Holdings Corporation is headquartered in Philadelphia, PA. “
ARMK has been the subject of several other research reports. BidaskClub downgraded shares of Aramark from a strong-buy rating to a buy rating in a research report on Friday, July 7th. Deutsche Bank AG boosted their price objective on shares of Aramark from $42.00 to $48.00 and gave the stock a buy rating in a research report on Wednesday, May 10th. Finally, Barclays PLC boosted their price objective on shares of Aramark from $37.00 to $39.00 and gave the stock an equal weight rating in a research report on Friday, June 23rd. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Aramark has an average rating of Buy and a consensus target price of $42.90.
Aramark (NYSE ARMK) traded up 0.27% during midday trading on Tuesday, reaching $40.50. 289,170 shares of the company were exchanged. The firm has a 50-day moving average price of $38.92 and a 200-day moving average price of $36.55. The company has a market capitalization of $9.89 billion, a PE ratio of 31.11 and a beta of 0.49. Aramark has a 52 week low of $32.73 and a 52 week high of $41.72.
Aramark (NYSE:ARMK) last posted its quarterly earnings results on Tuesday, May 9th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.37 by $0.08. Aramark had a net margin of 2.23% and a return on equity of 19.13%. The company had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.63 billion. During the same quarter in the previous year, the business posted $0.39 EPS. The firm’s revenue was up 1.3% on a year-over-year basis. Equities research analysts anticipate that Aramark will post $1.96 earnings per share for the current fiscal year.
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In other Aramark news, SVP Brian P. Pressler sold 10,629 shares of the company’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $40.80, for a total transaction of $433,663.20. Following the completion of the transaction, the senior vice president now owns 14,285 shares in the company, valued at approximately $582,828. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Lynn Mckee sold 100,000 shares of the company’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $38.61, for a total transaction of $3,861,000.00. Following the transaction, the executive vice president now owns 304,736 shares of the company’s stock, valued at approximately $11,765,856.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 143,629 shares of company stock valued at $5,618,413. 2.90% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in the company. Fox Run Management L.L.C. bought a new position in Aramark during the first quarter worth $1,007,000. AMI Asset Management Corp bought a new position in Aramark during the first quarter worth $20,909,000. CrestPoint Capital Management LLC bought a new position in Aramark during the first quarter worth $494,000. Gulf International Bank UK Ltd boosted its position in Aramark by 0.7% in the first quarter. Gulf International Bank UK Ltd now owns 71,420 shares of the company’s stock worth $2,633,000 after buying an additional 500 shares during the period. Finally, Macquarie Group Ltd. boosted its position in Aramark by 26.4% in the fourth quarter. Macquarie Group Ltd. now owns 145,608 shares of the company’s stock worth $5,201,000 after buying an additional 30,424 shares during the period. Institutional investors own 95.25% of the company’s stock.
Aramark is a global provider of 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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