Aramark (ARMK) Raised to Buy at BidaskClub
BidaskClub upgraded shares of Aramark (NYSE:ARMK) from a hold rating to a buy rating in a report issued on Wednesday.
A number of other research firms also recently commented on ARMK. Nomura lifted their price objective on shares of Aramark from $45.00 to $47.00 and gave the stock a buy rating in a report on Tuesday. Royal Bank Of Canada lifted their price objective on shares of Aramark from $44.00 to $47.00 and gave the stock an outperform rating in a report on Tuesday. Barclays PLC lifted their price objective on shares of Aramark from $37.00 to $39.00 and gave the stock an equal weight rating in a report on Friday, June 23rd. Zacks Investment Research downgraded shares of Aramark from a buy rating to a hold rating in a report on Tuesday, July 11th. Finally, Morgan Stanley lifted their price objective on shares of Aramark from $39.00 to $40.00 and gave the stock an equal weight rating in a report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $45.17.
Shares of Aramark (NYSE:ARMK) opened at 43.29 on Wednesday. Aramark has a 52 week low of $32.73 and a 52 week high of $43.35. The firm has a market cap of $10.61 billion, a PE ratio of 31.37 and a beta of 0.47. The company’s 50-day moving average is $41.19 and its 200-day moving average is $39.40.
Aramark (NYSE:ARMK) last released its quarterly earnings data on Tuesday, August 8th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The firm had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $3.61 billion. Aramark had a net margin of 2.37% and a return on equity of 19.29%. The firm’s revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.34 earnings per share. Analysts forecast that Aramark will post $1.96 EPS for the current fiscal year.
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Institutional investors and hedge funds have recently made changes to their positions in the company. Atria Investments LLC boosted its holdings in shares of Aramark by 0.8% during the second quarter. Atria Investments LLC now owns 25,185 shares of the company’s stock valued at $1,032,000 after acquiring an additional 209 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in shares of Aramark by 59.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,502,775 shares of the company’s stock valued at $61,584,000 after acquiring an additional 562,055 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of Aramark by 6.4% during the second quarter. State of Alaska Department of Revenue now owns 17,231 shares of the company’s stock valued at $706,000 after acquiring an additional 1,032 shares during the period. Simplex Trading LLC acquired a new position in shares of Aramark during the second quarter valued at $127,000. Finally, Capital Fund Management S.A. boosted its holdings in shares of Aramark by 34.0% during the second quarter. Capital Fund Management S.A. now owns 199,712 shares of the company’s stock valued at $8,184,000 after acquiring an additional 50,718 shares during the period. 94.69% of the stock is 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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