Aramark (NYSE:ARMK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Monday, Zacks.com reports. The brokerage presently has a $49.00 target price on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 11.21% from the company’s current price.
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. “
Several other equities research analysts also recently issued reports on the stock. Robert W. Baird boosted their price objective on shares of Aramark from $40.00 to $44.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Stifel Nicolaus upgraded shares of Aramark from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $36.00 to $49.00 in a research note on Monday, August 19th. Royal Bank of Canada set a $49.00 price objective on shares of Aramark and gave the stock a “buy” rating in a research note on Monday, August 26th. Morgan Stanley boosted their price objective on shares of Aramark from $40.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Finally, Oppenheimer started coverage on shares of Aramark in a research note on Thursday, August 22nd. They set an “outperform” rating and a $50.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Aramark currently has an average rating of “Buy” and an average target price of $45.58.
Aramark (NYSE:ARMK) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.08. Aramark had a net margin of 3.33% and a return on equity of 17.39%. The company had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $3.99 billion. During the same period in the previous year, the firm earned $0.48 earnings per share. Aramark’s revenue for the quarter was up 1.0% on a year-over-year basis. Research analysts anticipate that Aramark will post 2.04 earnings per share for the current year.
In other news, insider Keith Bethel sold 7,500 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $37.40, for a total transaction of $280,500.00. Following the transaction, the insider now directly owns 43,692 shares of the company’s stock, valued at $1,634,080.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 3.50% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Cullen Frost Bankers Inc. acquired a new position in shares of Aramark during the second quarter worth $32,000. Cerebellum GP LLC acquired a new stake in Aramark in the third quarter valued at $127,000. Squar Milner Financial Services LLC raised its holdings in Aramark by 8.4% in the second quarter. Squar Milner Financial Services LLC now owns 3,712 shares of the company’s stock valued at $134,000 after acquiring an additional 288 shares in the last quarter. Machina Capital S.A.S. raised its holdings in Aramark by 18.3% in the second quarter. Machina Capital S.A.S. now owns 5,456 shares of the company’s stock valued at $197,000 after acquiring an additional 844 shares in the last quarter. Finally, Wetherby Asset Management Inc. acquired a new stake in Aramark in the second quarter valued at $206,000. 98.52% of the stock is currently owned by institutional investors and hedge funds.
Aramark Company Profile
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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