Aramark Holdings Corp. (ARMK) Downgraded by Zacks Investment Research
Aramark Holdings Corp. (NYSE:ARMK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
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. “
ARMK has been the subject of several other reports. Bank of America Corp. boosted their target price on Aramark Holdings Corp. from $38.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, August 11th. RBC Capital Markets restated a “top pick” rating and set a $42.00 target price (up from $40.00) on shares of Aramark Holdings Corp. in a research report on Saturday, August 13th. Morgan Stanley set a $41.00 target price on Aramark Holdings Corp. and gave the stock a “hold” rating in a research report on Thursday, August 11th. Barclays PLC boosted their target price on Aramark Holdings Corp. from $37.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, August 11th. Finally, Nomura boosted their target price on Aramark Holdings Corp. from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, August 11th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. Aramark Holdings Corp. presently has an average rating of “Buy” and an average price target of $41.08.
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Shares of Aramark Holdings Corp. (NYSE:ARMK) traded down 0.95% during trading on Tuesday, hitting $36.54. The stock had a trading volume of 1,066,644 shares. The firm has a 50-day moving average price of $37.53 and a 200 day moving average price of $35.00. The company has a market capitalization of $8.91 billion, a PE ratio of 34.80 and a beta of 0.57. Aramark Holdings Corp. has a 52 week low of $29.18 and a 52 week high of $38.30.
Aramark Holdings Corp. (NYSE:ARMK) last posted its earnings results on Wednesday, August 10th. The company reported $0.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.02. Aramark Holdings Corp. had a return on equity of 18.92% and a net margin of 1.81%. The business earned $3.59 billion during the quarter, compared to analysts’ expectations of $3.58 billion. During the same period in the previous year, the business earned $0.29 earnings per share. The firm’s revenue was up 3.0% on a year-over-year basis. Equities analysts anticipate that Aramark Holdings Corp. will post $1.71 earnings per share for the current year.
In other Aramark Holdings Corp. news, EVP Stephen R. Reynolds sold 56,709 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $6,328,339.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.50% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Arbitrage SA raised its position in shares of Aramark Holdings Corp. by 20.8% in the third quarter. BNP Paribas Arbitrage SA now owns 8,355 shares of the company’s stock valued at $318,000 after buying an additional 1,438 shares in the last quarter. Macquarie Group Ltd. raised its position in Aramark Holdings Corp. by 1,960.9% in the second quarter. Macquarie Group Ltd. now owns 115,409 shares of the company’s stock worth $3,857,000 after buying an additional 109,809 shares during the period. Harbour Capital Advisors LLC bought a new position in Aramark Holdings Corp. during the second quarter worth $881,000. Royal Bank of Canada raised its position in Aramark Holdings Corp. by 2.9% in the second quarter. Royal Bank of Canada now owns 557,764 shares of the company’s stock worth $18,641,000 after buying an additional 15,936 shares during the period. Finally, Sterling Capital Management LLC raised its position in Aramark Holdings Corp. by 38.5% in the second quarter. Sterling Capital Management LLC now owns 75,918 shares of the company’s stock worth $2,537,000 after buying an additional 21,104 shares during the period. 94.26% of the stock is owned by hedge funds and other institutional investors.
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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