Aramark (ARMK) Given Average Rating of “Buy” by Brokerages
Aramark (NYSE:ARMK) has earned a consensus rating of “Buy” from the eight brokerages that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $43.00.
A number of brokerages have commented on ARMK. BidaskClub downgraded shares of Aramark from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. Morgan Stanley increased their price objective on shares of Aramark from $39.00 to $40.00 and gave the company an “equal weight” rating in a research note on Thursday, August 10th. Nomura reiterated a “buy” rating and set a $45.00 price objective (up from $43.00) on shares of Aramark in a research note on Wednesday, August 9th. Zacks Investment Research downgraded shares of Aramark from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Finally, Barclays PLC increased their price objective on shares of Aramark from $37.00 to $39.00 and gave the company an “equal weight” rating in a research note on Friday, June 23rd.
ILLEGAL ACTIVITY NOTICE: This piece was published by American Banking News and is owned by of American Banking News. If you are viewing this piece on another site, it was stolen and republished in violation of US & international copyright and trademark law. The original version of this piece can be read at https://www.americanbankingnews.com/2017/09/13/aramark-armk-given-average-rating-of-buy-by-brokerages.html.
Shares of Aramark (NYSE ARMK) opened at 40.94 on Wednesday. The firm’s 50-day moving average price is $39.92 and its 200 day moving average price is $38.42. The company has a market capitalization of $10.03 billion, a PE ratio of 29.67 and a beta of 0.48. Aramark has a 52-week low of $32.73 and a 52-week high of $41.72.
Aramark (NYSE:ARMK) last issued its earnings results on Tuesday, August 8th. The company reported $0.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.05. The business had revenue of $3.59 billion for 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 company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.34 EPS. On average, equities analysts forecast that Aramark will post $1.96 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Wednesday, August 16th were given a dividend of $0.103 per share. The ex-dividend date of this dividend was Monday, August 14th. This represents a $0.41 dividend on an annualized basis and a yield of 1.01%. Aramark’s payout ratio is 29.93%.
In other Aramark news, SVP Brian P. Pressler sold 10,629 shares of the firm’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $40.80, for a total value of $433,663.20. Following the completion of the transaction, the senior vice president now owns 14,285 shares of the company’s stock, valued at $582,828. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 2.90% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Israel Discount Bank of New York purchased a new position in shares of Aramark in the first quarter worth $103,000. FNY Managed Accounts LLC purchased a new position in shares of Aramark in the first quarter worth $110,000. Toronto Dominion Bank raised its holdings in shares of Aramark by 19.0% in the second quarter. Toronto Dominion Bank now owns 3,027 shares of the company’s stock worth $124,000 after buying an additional 483 shares during the last quarter. Simplex Trading LLC purchased a new position in shares of Aramark in the second quarter worth $127,000. Finally, Acrospire Investment Management LLC raised its holdings in shares of Aramark by 98.5% in the second quarter. Acrospire Investment Management LLC now owns 3,628 shares of the company’s stock worth $149,000 after buying an additional 1,800 shares during the last quarter. 94.85% of the stock is owned by institutional investors and hedge funds.
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).
Receive News & Ratings for Aramark Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aramark and related companies with MarketBeat.com's FREE daily email newsletter.