Aramark (ARMK) Rating Lowered to Neutral at Goldman Sachs Group

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Aramark (NYSE:ARMK) was downgraded by Goldman Sachs Group from a “buy” rating to a “neutral” rating in a report released on Monday, The Fly reports.

A number of other equities research analysts have also recently commented on ARMK. ValuEngine cut shares of Aramark from a “hold” rating to a “sell” rating in a report on Tuesday, December 11th. Zacks Investment Research raised shares of Aramark from a “sell” rating to a “hold” rating in a report on Tuesday, November 20th. Barclays lowered their target price on shares of Aramark from $47.00 to $42.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 24th. Robert W. Baird raised shares of Aramark from a “neutral” rating to an “outperform” rating and set a $44.00 target price on the stock in a report on Wednesday, November 14th. Finally, Morgan Stanley set a $34.00 target price on shares of Aramark and gave the company a “hold” rating in a report on Tuesday, January 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $42.27.

ARMK stock traded down $0.30 during mid-day trading on Monday, reaching $31.68. 1,153,337 shares of the company traded hands, compared to its average volume of 2,645,289. The company has a market capitalization of $7.88 billion, a P/E ratio of 15.92, a price-to-earnings-growth ratio of 1.49 and a beta of 1.20. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.04 and a current ratio of 1.21. Aramark has a fifty-two week low of $27.37 and a fifty-two week high of $43.70.

Aramark (NYSE:ARMK) last released its quarterly earnings results on Tuesday, February 5th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.08. The business had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $4.19 billion. Aramark had a return on equity of 17.81% and a net margin of 3.27%. The company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.59 EPS. As a group, sell-side analysts forecast that Aramark will post 2.12 earnings per share for the current fiscal year.

In other Aramark news, Director Stephen I. Sadove acquired 6,000 shares of the business’s stock in a transaction on Thursday, December 13th. The stock was purchased at an average price of $32.72 per share, for a total transaction of $196,320.00. Following the transaction, the director now owns 37,314 shares in the company, valued at approximately $1,220,914.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Eric J. Foss acquired 92,564 shares of the business’s stock in a transaction on Wednesday, December 12th. The stock was acquired at an average price of $32.46 per share, with a total value of $3,004,627.44. Following the transaction, the chief executive officer now owns 1,679,407 shares in the company, valued at approximately $54,513,551.22. The disclosure for this purchase can be found here. 3.50% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. First Hawaiian Bank boosted its position in shares of Aramark by 48.3% during the fourth quarter. First Hawaiian Bank now owns 1,366 shares of the company’s stock worth $40,000 after buying an additional 445 shares during the period. IFP Advisors Inc raised its holdings in Aramark by 985.5% during the third quarter. IFP Advisors Inc now owns 2,399 shares of the company’s stock worth $103,000 after acquiring an additional 2,178 shares in the last quarter. Pearl River Capital LLC bought a new stake in Aramark in the fourth quarter valued at approximately $72,000. Captrust Financial Advisors raised its stake in Aramark by 236.4% in the third quarter. Captrust Financial Advisors now owns 4,413 shares of the company’s stock valued at $190,000 after buying an additional 3,101 shares during the period. Finally, Asset Management Group Inc. bought a new stake in Aramark in the third quarter valued at approximately $201,000. Hedge funds and other institutional investors own 99.97% of the company’s stock.

About Aramark

Aramark provides food, facilities management, and uniform services to education, healthcare, business and industry, sports, leisure, and corrections clients in North America and internationally. It operates in three segments: Food and Support Services United States, Food and Support Services International, and Uniform and Career Apparel.

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Analyst Recommendations for Aramark (NYSE:ARMK)

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