Aramark Holdings Corp. (NYSE:ARMK) Receives Consensus Recommendation of “Buy” from Brokerages
Aramark Holdings Corp. (NYSE:ARMK) has earned a consensus rating of “Buy” from the fourteen brokerages that are presently covering the company. Two analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $41.08.
Several research analysts have issued reports on ARMK shares. Zacks Investment Research raised Aramark Holdings Corp. from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a report on Tuesday. Nomura upped their price objective on Aramark Holdings Corp. from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, August 11th. Bank of America Corp. upped their price objective on Aramark Holdings Corp. from $38.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, August 11th. Morgan Stanley set a $41.00 price objective on Aramark Holdings Corp. and gave the stock a “hold” rating in a report on Thursday, August 11th. Finally, Macquarie started coverage on Aramark Holdings Corp. in a report on Thursday, August 25th. They set an “outperform” rating and a $44.00 price objective on the stock.
Shares of Aramark Holdings Corp. (NYSE:ARMK) traded down 1.09% on Wednesday, hitting $37.15. The stock had a trading volume of 717,642 shares. The firm has a 50 day moving average price of $37.57 and a 200 day moving average price of $34.88. The company has a market capitalization of $9.06 billion, a P/E ratio of 35.38 and a beta of 0.57. Aramark Holdings Corp. has a one year low of $29.18 and a one year high of $38.30.
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 the Zacks’ consensus estimate of $0.32 by $0.02. The business had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.58 billion. Aramark Holdings Corp. had a return on equity of 18.92% and a net margin of 1.81%. Aramark Holdings Corp.’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.29 EPS. On average, equities research analysts predict 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. Investors 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 1.01%. The ex-dividend date of this dividend was Friday, August 12th. Aramark Holdings Corp.’s dividend payout ratio is currently 35.85%.
In other Aramark Holdings Corp. news, EVP Stephen R. Reynolds sold 56,709 shares of the stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $36.97, for a total transaction of $2,096,531.73. Following the completion of the transaction, the executive vice president now owns 171,175 shares in the company, valued at approximately $6,328,339.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.50% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in ARMK. OLD Mutual Customised Solutions Proprietary Ltd. bought a new position in shares of Aramark Holdings Corp. during the second quarter valued at $107,000. MU Investments Co. Ltd. bought a new position in shares of Aramark Holdings Corp. during the second quarter valued at $148,000. Daiwa Securities Group Inc. boosted its position in shares of Aramark Holdings Corp. by 11.5% in the second quarter. Daiwa Securities Group Inc. now owns 5,350 shares of the company’s stock valued at $179,000 after buying an additional 550 shares during the last quarter. Strs Ohio boosted its position in shares of Aramark Holdings Corp. by 26.5% in the second quarter. Strs Ohio now owns 5,459 shares of the company’s stock valued at $182,000 after buying an additional 1,142 shares during the last quarter. Finally, Invictus RG bought a new position in shares of Aramark Holdings Corp. during the second quarter valued at $185,000. Hedge funds and other institutional investors own 94.26% of the company’s stock.
About Aramark Holdings Corp.
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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