Aramark (ARMK) Reaches New 52-Week High at $42.02
Aramark (NYSE:ARMK)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $42.02 and last traded at $42.02, with a volume of 516,259 shares changing hands. The stock had previously closed at $41.54.
Several brokerages have recently issued reports on ARMK. BidaskClub lowered Aramark from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 7th. Zacks Investment Research lowered Aramark from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Royal Bank Of Canada reissued a “buy” rating on shares of Aramark in a research note on Thursday, October 5th. Morgan Stanley increased their target price on Aramark from $39.00 to $40.00 and gave the company an “equal weight” rating in a research note on Thursday, August 10th. Finally, Barclays PLC increased their target price on Aramark from $37.00 to $39.00 and gave the company an “equal weight” rating in a research note on Friday, June 23rd. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Aramark currently has an average rating of “Buy” and a consensus price target of $43.00.
The company has a 50 day moving average price of $40.59 and a 200-day moving average price of $39.10. The firm has a market cap of $10.31 billion, a P/E ratio of 30.47 and a beta of 0.47.
Aramark (NYSE:ARMK) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. Aramark had a return on equity of 19.29% and a net margin of 2.37%. The company had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.61 billion. During the same period in the previous year, the business earned $0.34 EPS. The firm’s revenue was up .2% compared to the same quarter last year. On average, equities research analysts forecast that Aramark will post $1.96 EPS for the current year.
Institutional investors and hedge funds have recently modified their holdings of the business. FNY Managed Accounts LLC bought a new stake in Aramark during the 1st quarter worth approximately $110,000. Toronto Dominion Bank increased its holdings in Aramark by 19.0% during the 2nd quarter. Toronto Dominion Bank now owns 3,027 shares of the company’s stock worth $124,000 after purchasing an additional 483 shares in the last quarter. Simplex Trading LLC bought a new stake in Aramark during the 2nd quarter worth approximately $127,000. Acrospire Investment Management LLC increased its holdings in Aramark by 98.5% during the 2nd quarter. Acrospire Investment Management LLC now owns 3,628 shares of the company’s stock worth $149,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Pacer Advisors Inc. increased its holdings in Aramark by 3.3% during the 1st quarter. Pacer Advisors Inc. now owns 4,497 shares of the company’s stock worth $166,000 after purchasing an additional 143 shares in the last quarter. 94.84% of the stock is owned by hedge funds and other institutional investors.
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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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