Aramark (NYSE:ARMK) Downgraded by BidaskClub
Aramark (NYSE:ARMK) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Saturday.
ARMK has been the subject of several other research reports. Zacks Investment Research lowered shares of Aramark from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Nomura reiterated a “buy” rating and issued a $45.00 target price (up previously from $43.00) on shares of Aramark in a research note on Wednesday. Morgan Stanley upped their target price on shares of Aramark from $39.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Thursday. Deutsche Bank AG upped their target price on shares of Aramark from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, May 10th. Finally, Barclays PLC upped their target price on shares of Aramark from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Friday, June 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $43.00.
Shares of Aramark (ARMK) opened at 39.35 on Friday. The company has a market cap of $9.64 billion, a P/E ratio of 28.51 and a beta of 0.48. Aramark has a 12 month low of $32.73 and a 12 month high of $41.72. The stock’s 50 day moving average is $40.33 and its 200 day moving average is $37.63.
Aramark (NYSE:ARMK) last posted its earnings results on Tuesday, August 8th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.05. Aramark had a net margin of 2.37% and a return on equity of 19.29%. The firm had revenue of $3.59 billion during the quarter, compared to analyst estimates of $3.61 billion. During the same quarter in the prior year, the business posted $0.34 EPS. The business’s revenue was up .2% compared to the same quarter last year. On average, analysts anticipate that Aramark will post $1.96 EPS for the current fiscal year.
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In related news, EVP Lynn Mckee sold 100,000 shares of the business’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $38.61, for a total value of $3,861,000.00. Following the transaction, the executive vice president now directly owns 304,736 shares of the company’s stock, valued at approximately $11,765,856.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP James J. Tarangelo sold 3,000 shares of the business’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $37.15, for a total transaction of $111,450.00. Following the completion of the transaction, the vice president now directly owns 2,871 shares in the company, valued at $106,657.65. The disclosure for this sale can be found here. Insiders sold a total of 143,629 shares of company stock worth $5,618,413 over the last three months. 2.90% of the stock is owned by insiders.
Several institutional investors have recently modified their holdings of ARMK. Dimensional Fund Advisors LP increased its position in shares of Aramark by 11.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,480,505 shares of the company’s stock worth $60,669,000 after buying an additional 147,313 shares during the period. Renaissance Technologies LLC increased its position in shares of Aramark by 341.6% in the second quarter. Renaissance Technologies LLC now owns 631,900 shares of the company’s stock worth $25,895,000 after buying an additional 488,800 shares during the period. Globeflex Capital L P increased its position in shares of Aramark by 77.2% in the second quarter. Globeflex Capital L P now owns 41,855 shares of the company’s stock worth $1,715,000 after buying an additional 18,232 shares during the period. M&T Bank Corp increased its position in shares of Aramark by 16.1% in the second quarter. M&T Bank Corp now owns 20,032 shares of the company’s stock worth $820,000 after buying an additional 2,777 shares during the period. Finally, California Public Employees Retirement System increased its position in shares of Aramark by 7.9% in the second quarter. California Public Employees Retirement System now owns 518,500 shares of the company’s stock worth $21,248,000 after buying an additional 37,800 shares during the period. 95.94% of the stock is currently owned by institutional investors.
Aramark Company Profile
Aramark is a global provider of 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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