Aramark Holdings Corp. (ARMK) Stock Rating Upgraded by Zacks Investment Research
Aramark Holdings Corp. (NYSE:ARMK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The brokerage currently has a $43.00 target price on the stock. Zacks Investment Research’s price objective suggests a potential upside of 13.28% 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. “
Other equities research analysts have also issued research reports about the stock. Nomura lifted their price objective on shares of Aramark Holdings Corp. from $40.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, August 11th. Bank of America Corp. lifted their price objective on shares of Aramark Holdings Corp. from $38.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, August 11th. Morgan Stanley set a $41.00 price objective on shares of Aramark Holdings Corp. and gave the company a “hold” rating in a report on Thursday, August 11th. Macquarie initiated coverage on shares of Aramark Holdings Corp. in a report on Thursday, August 25th. They set an “outperform” rating and a $44.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Aramark Holdings Corp. from $37.00 to $44.00 and gave the company an “overweight” rating in a report on Thursday, August 11th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $41.08.
Aramark Holdings Corp. (NYSE:ARMK) traded down 1.05% during midday trading on Tuesday, hitting $37.56. 1,457,247 shares of the stock were exchanged. The company has a market cap of $9.16 billion, a PE ratio of 35.77 and a beta of 0.57. Aramark Holdings Corp. has a 12 month low of $29.18 and a 12 month high of $38.30. The firm’s 50 day moving average price is $37.57 and its 200 day moving average price is $34.84.
Aramark Holdings Corp. (NYSE:ARMK) last released its quarterly earnings results on Wednesday, August 10th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. Aramark Holdings Corp. had a net margin of 1.81% and a return on equity of 18.92%. The firm earned $3.59 billion during the quarter, compared to analysts’ expectations of $3.58 billion. During the same period in the previous year, the company earned $0.29 EPS. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, equities research analysts forecast that Aramark Holdings Corp. will post $1.71 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Tuesday, August 16th were given a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Friday, August 12th. Aramark Holdings Corp.’s payout ratio is currently 35.85%.
In other news, EVP Stephen R. Reynolds sold 56,709 shares of Aramark Holdings Corp. stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $36.97, for a total value of $2,096,531.73. Following the transaction, the executive vice president now owns 171,175 shares of the company’s stock, valued at approximately $6,328,339.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.50% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of ARMK. Atlanta Capital Management Co. L L C purchased a new position in shares of Aramark Holdings Corp. during the first quarter worth about $157,788,000. Jennison Associates LLC bought a new stake in Aramark Holdings Corp. during the second quarter valued at $86,709,000. JPMorgan Chase & Co. increased its stake in Aramark Holdings Corp. by 129.6% in the first quarter. JPMorgan Chase & Co. now owns 4,398,886 shares of the company’s stock valued at $145,691,000 after buying an additional 2,483,289 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Aramark Holdings Corp. by 13.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 13,006,234 shares of the company’s stock valued at $434,669,000 after buying an additional 1,557,188 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in Aramark Holdings Corp. by 61.8% in the first quarter. Wellington Management Group LLP now owns 3,591,616 shares of the company’s stock valued at $118,954,000 after buying an additional 1,372,026 shares in the last quarter. 94.26% of the stock is currently owned by hedge funds and other institutional investors.
Aramark Holdings Corp. Company Profile
Aramark provides 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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