Aramark (ARMK) Hits New 12-Month High at $44.52

Aramark (NYSE:ARMK) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $44.52 and last traded at $44.00, with a volume of 1489500 shares traded. The stock had previously closed at $44.07.

A number of equities research analysts have recently issued reports on ARMK shares. BidaskClub raised Aramark from a “sell” rating to a “hold” rating in a research report on Saturday, September 23rd. Royal Bank of Canada reaffirmed a “buy” rating on shares of Aramark in a research report on Thursday, October 5th. Nomura boosted their target price on Aramark from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, October 17th. Zacks Investment Research lowered Aramark from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 18th. Finally, Barclays reaffirmed a “hold” rating and set a $45.00 target price on shares of Aramark in a research report on Thursday, October 19th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $45.86.

The stock has a market cap of $10,958.04, a PE ratio of 29.89, a price-to-earnings-growth ratio of 1.89 and a beta of 0.47. The company has a current ratio of 1.12, a quick ratio of 0.86 and a debt-to-equity ratio of 2.11.

Aramark (NYSE:ARMK) last posted its quarterly earnings results on Tuesday, November 14th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.02. The firm had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.70 billion. Aramark had a return on equity of 19.29% and a net margin of 2.56%. Aramark’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.49 earnings per share. sell-side analysts expect that Aramark will post 1.96 EPS for the current fiscal year.

In other Aramark news, Director Sanjeev K. Mehra purchased 19,640 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were purchased at an average cost of $40.75 per share, with a total value of $800,330.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.90% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of ARMK. Alliancebernstein L.P. grew its stake in Aramark by 1.1% in the second quarter. Alliancebernstein L.P. now owns 163,212 shares of the company’s stock valued at $6,688,000 after purchasing an additional 1,740 shares in the last quarter. BlackRock Inc. grew its stake in Aramark by 1.4% in the second quarter. BlackRock Inc. now owns 12,627,800 shares of the company’s stock valued at $517,486,000 after purchasing an additional 174,494 shares in the last quarter. Profund Advisors LLC purchased a new position in Aramark in the second quarter valued at about $219,000. PNC Financial Services Group Inc. grew its stake in Aramark by 2.6% in the second quarter. PNC Financial Services Group Inc. now owns 39,954 shares of the company’s stock valued at $1,638,000 after purchasing an additional 998 shares in the last quarter. Finally, Quantitative Investment Management LLC purchased a new position in Aramark in the second quarter valued at about $1,487,000. Hedge funds and other institutional investors own 95.40% of the company’s stock.

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About Aramark

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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