Aramark (NYSE:ARMK) Downgraded to Hold at Zacks Investment Research
Aramark (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. “
Other equities analysts also recently issued reports about the company. Barclays PLC lifted their target price on Aramark from $37.00 to $39.00 and gave the company an “equal weight” rating in a research report on Friday, June 23rd. BidaskClub raised Aramark from a “hold” rating to a “buy” rating in a report on Friday, June 16th. Finally, Deutsche Bank AG raised their price target on Aramark from $42.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, May 10th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Aramark has an average rating of “Buy” and a consensus target price of $42.90.
Aramark (NYSE ARMK) traded down 0.92% on Tuesday, reaching $39.72. The company’s stock had a trading volume of 2,337,632 shares. Aramark has a 12-month low of $32.73 and a 12-month high of $41.72. The company’s 50 day moving average price is $38.92 and its 200-day moving average price is $36.55. The stock has a market cap of $9.70 billion, a PE ratio of 30.51 and a beta of 0.49.
Aramark (NYSE:ARMK) last released its quarterly earnings results on Tuesday, May 9th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.08. The firm had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.63 billion. Aramark had a return on equity of 19.13% and a net margin of 2.23%. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period last year, the business posted $0.39 EPS. On average, equities analysts expect that Aramark will post $1.96 EPS for the current year.
In other Aramark news, VP James J. Tarangelo sold 3,000 shares of the company’s stock in a transaction on 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 sale, the vice president now owns 2,871 shares in the company, valued at $106,657.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Brian P. Pressler sold 10,629 shares of the company’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $40.80, for a total value of $433,663.20. Following the sale, the senior vice president now owns 14,285 shares of the company’s stock, valued at approximately $582,828. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 143,629 shares of company stock valued at $5,618,413. 2.90% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the company. US Bancorp DE raised its stake in Aramark by 0.6% in the first quarter. US Bancorp DE now owns 6,417 shares of the company’s stock worth $237,000 after buying an additional 41 shares in the last quarter. Arizona State Retirement System increased its position in shares of Aramark by 0.3% in the first quarter. Arizona State Retirement System now owns 38,500 shares of the company’s stock worth $1,419,000 after buying an additional 100 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Aramark by 3.3% in the first quarter. Pacer Advisors Inc. now owns 4,497 shares of the company’s stock worth $166,000 after buying an additional 143 shares during the last quarter. Atria Investments LLC increased its position in shares of Aramark by 0.8% in the second quarter. Atria Investments LLC now owns 25,185 shares of the company’s stock worth $1,032,000 after buying an additional 209 shares during the last quarter. Finally, Wade G W & Inc. increased its position in shares of Aramark by 3.7% in the first quarter. Wade G W & Inc. now owns 6,790 shares of the company’s stock worth $250,000 after buying an additional 243 shares during the last quarter. Institutional investors own 95.25% of the company’s stock.
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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