Zacks Investment Research Downgrades Aramark Holdings Corp. (ARMK) to Hold
Aramark Holdings Corp. (NYSE:ARMK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report 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. “
Several other equities analysts also recently commented on the company. Macquarie started coverage on Aramark Holdings Corp. in a research report on Thursday, August 25th. They issued an “outperform” rating and a $44.00 price objective on the stock. Barclays PLC upped their price objective on Aramark Holdings Corp. from $37.00 to $40.00 and gave the company an “overweight” rating in a research report on Thursday, August 11th. RBC Capital Markets reaffirmed a “top pick” rating and issued a $42.00 price objective (up previously from $40.00) on shares of Aramark Holdings Corp. in a research report on Saturday, August 13th. Bank of America Corp. upped their price objective on Aramark Holdings Corp. from $38.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, August 11th. Finally, Royal Bank Of Canada upped their price objective on Aramark Holdings Corp. from $40.00 to $42.00 and gave the company a “top pick” rating in a research report on Thursday, August 11th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $41.08.
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Aramark Holdings Corp. (NYSE:ARMK) traded down 0.854% during midday trading on Tuesday, reaching $36.575. The company had a trading volume of 727,794 shares. Aramark Holdings Corp. has a 1-year low of $29.18 and a 1-year high of $38.30. The firm has a 50-day moving average of $37.54 and a 200 day moving average of $35.01. The company has a market capitalization of $8.92 billion, a P/E ratio of 34.833 and a beta of 0.57.
Aramark Holdings Corp. (NYSE:ARMK) last announced its quarterly earnings data on Wednesday, August 10th. The company reported $0.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.02. The company had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.58 billion. Aramark Holdings Corp. had a return on equity of 18.92% and a net margin of 1.81%. Aramark Holdings Corp.’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.29 EPS. On average, equities research analysts forecast that Aramark Holdings Corp. will post $1.71 EPS for the current year.
In related news, EVP Stephen R. Reynolds sold 56,709 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 171,175 shares in the company, valued at approximately $6,328,339.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.50% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of ARMK. AXA boosted its stake in shares of Aramark Holdings Corp. by 1,906.0% in the first quarter. AXA now owns 1,066,800 shares of the company’s stock worth $35,333,000 after buying an additional 1,013,620 shares during the period. UBS Asset Management Americas Inc. boosted its stake in shares of Aramark Holdings Corp. by 0.3% in the first quarter. UBS Asset Management Americas Inc. now owns 451,635 shares of the company’s stock worth $14,956,000 after buying an additional 1,339 shares during the period. UBS Group AG boosted its stake in shares of Aramark Holdings Corp. by 225.0% in the first quarter. UBS Group AG now owns 108,363 shares of the company’s stock worth $3,589,000 after buying an additional 75,020 shares during the period. State Street Corp boosted its stake in shares of Aramark Holdings Corp. by 4.5% in the first quarter. State Street Corp now owns 3,642,853 shares of the company’s stock worth $120,651,000 after buying an additional 156,277 shares during the period. Finally, BB&T Securities LLC boosted its stake in shares of Aramark Holdings Corp. by 31.5% in the first quarter. BB&T Securities LLC now owns 18,121 shares of the company’s stock worth $600,000 after buying an additional 4,344 shares during the period. Hedge funds and other institutional investors own 94.26% 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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