Aramark (NYSE:ARMK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
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. “
A number of other brokerages have also recently issued reports on ARMK. Morgan Stanley lifted their price objective on Aramark from $39.00 to $40.00 and gave the company an “equal weight” rating in a research note on Thursday, August 10th. Nomura reiterated a “buy” rating and set a $45.00 price objective (up previously from $43.00) on shares of Aramark in a research note on Wednesday, August 9th. Barclays PLC reiterated a “hold” rating and set a $45.00 price objective on shares of Aramark in a research note on Thursday, October 19th. Royal Bank Of Canada lifted their target price on Aramark from $44.00 to $47.00 and gave the stock an “outperform” rating in a report on Tuesday, October 17th. Finally, BidaskClub lowered Aramark from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $44.83.
Aramark (NYSE:ARMK) last released its earnings results on Tuesday, November 14th. The company reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.02. The company had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $3.70 billion. Aramark had a return on equity of 18.98% and a net margin of 3.10%. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.49 EPS. sell-side analysts predict that Aramark will post 2 EPS for the current fiscal year.
In other news, Director Sanjeev K. Mehra acquired 19,640 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was bought at an average price of $40.75 per share, with a total value of $800,330.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CAPROCK Group Inc. lifted its position in Aramark by 0.8% during the second quarter. CAPROCK Group Inc. now owns 5,528 shares of the company’s stock valued at $227,000 after purchasing an additional 43 shares in the last quarter. Pitcairn Co. lifted its position in shares of Aramark by 3.2% in the second quarter. Pitcairn Co. now owns 8,330 shares of the company’s stock valued at $341,000 after acquiring an additional 255 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Aramark by 8.3% in the second quarter. Pacer Advisors Inc. now owns 4,871 shares of the company’s stock valued at $200,000 after acquiring an additional 374 shares in the last quarter. Howard Hughes Medical Institute lifted its position in shares of Aramark by 0.7% in the second quarter. Howard Hughes Medical Institute now owns 57,423 shares of the company’s stock valued at $2,353,000 after acquiring an additional 382 shares in the last quarter. Finally, Utah Retirement Systems lifted its position in shares of Aramark by 0.9% in the second quarter. Utah Retirement Systems now owns 44,500 shares of the company’s stock valued at $1,824,000 after acquiring an additional 400 shares in the last quarter. Institutional investors own 93.30% of the company’s stock.
Aramark Company Profile
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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