Aramark Holdings Corp. (ARMK) Rating Increased to Hold at Zacks Investment Research
Aramark Holdings Corp. (NYSE:ARMK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Friday.
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 research analysts also recently weighed in on the stock. Royal Bank Of Canada reduced their price target on shares of Aramark Holdings Corp. from $42.00 to $41.00 and set a “top pick” rating for the company in a research report on Wednesday, November 16th. Macquarie assumed coverage on shares of Aramark Holdings Corp. in a research report on Thursday, August 25th. They set an “outperform” rating and a $44.00 price target for the company. Nomura upped their price target on shares of Aramark Holdings Corp. from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, August 11th. Bank of America Corp. upped their price target on shares of Aramark Holdings Corp. from $38.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, August 11th. Finally, RBC Capital Markets restated a “top pick” rating and set a $42.00 price target (up previously from $40.00) on shares of Aramark Holdings Corp. in a research report on Saturday, August 13th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Aramark Holdings Corp. currently has a consensus rating of “Buy” and an average price target of $40.92.
Aramark Holdings Corp. (NYSE:ARMK) opened at 34.99 on Friday. 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 $36.24 and its 200 day moving average price is $35.67. The stock has a market cap of $8.54 billion, a price-to-earnings ratio of 30.16 and a beta of 0.58.
Aramark Holdings Corp. (NYSE:ARMK) last posted its earnings results on Tuesday, November 15th. The company reported $0.49 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.49. Aramark Holdings Corp. had a net margin of 2.00% and a return on equity of 18.96%. The business had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same period in the prior year, the company posted $0.44 EPS. The company’s revenue for the quarter was up .0% on a year-over-year basis. On average, equities research analysts predict that Aramark Holdings Corp. will post $1.90 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 8th. Stockholders of record on Monday, November 28th will be issued a dividend of $0.103 per share. The ex-dividend date is Wednesday, November 23rd. This represents a $0.41 dividend on an annualized basis and a dividend yield of 1.17%. This is an increase from Aramark Holdings Corp.’s previous quarterly dividend of $0.10. Aramark Holdings Corp.’s dividend payout ratio (DPR) is currently 35.35%.
In other news, Chairman Eric J. Foss purchased 87,566 shares of the business’s stock in a transaction dated Monday, November 21st. The stock was acquired at an average price of $34.50 per share, for a total transaction of $3,021,027.00. Following the acquisition, the chairman now directly owns 1,514,253 shares of the company’s stock, valued at $52,241,728.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Stephen I. Sadove purchased 7,500 shares of the business’s stock in a transaction dated Thursday, November 17th. The shares were purchased at an average price of $33.53 per share, with a total value of $251,475.00. Following the acquisition, the director now directly owns 22,489 shares in the company, valued at $754,056.17. The disclosure for this purchase can be found here. Insiders own 2.50% of the company’s stock.
Several hedge funds have recently made changes to their positions in ARMK. Prudential Financial Inc. bought a new position in Aramark Holdings Corp. during the first quarter worth $443,000. Legal & General Group Plc boosted its position in Aramark Holdings Corp. by 21.0% in the first quarter. Legal & General Group Plc now owns 160,353 shares of the company’s stock worth $5,309,000 after buying an additional 27,837 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Aramark Holdings Corp. by 36.2% in the first quarter. Envestnet Asset Management Inc. now owns 32,727 shares of the company’s stock worth $1,084,000 after buying an additional 8,696 shares during the last quarter. Barclays PLC boosted its position in Aramark Holdings Corp. by 8.2% in the first quarter. Barclays PLC now owns 18,670 shares of the company’s stock worth $616,000 after buying an additional 1,412 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in Aramark Holdings Corp. by 6.2% in the first quarter. Royal Bank of Canada now owns 541,828 shares of the company’s stock worth $17,945,000 after buying an additional 31,804 shares during the last quarter. Institutional investors and hedge funds own 95.59% of the company’s stock.
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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