Aramark’s (ARMK) “Buy” Rating Reaffirmed at Royal Bank Of Canada
Aramark (NYSE:ARMK)‘s stock had its “buy” rating reiterated by investment analysts at Royal Bank Of Canada in a research report issued on Thursday.
Several other equities analysts also recently commented on the company. BidaskClub upgraded Aramark from a “sell” rating to a “hold” rating in a report on Saturday, September 23rd. Morgan Stanley increased their price target on Aramark from $39.00 to $40.00 and gave the company an “equal weight” rating in a report on Thursday, August 10th. Nomura reiterated a “buy” rating and set a $45.00 price target (up previously from $43.00) on shares of Aramark in a report on Wednesday, August 9th. Zacks Investment Research downgraded Aramark from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Finally, Barclays PLC increased their price objective on Aramark from $37.00 to $39.00 and gave the company an “equal weight” rating in a research report on Friday, June 23rd. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Aramark presently has an average rating of “Buy” and an average price target of $43.00.
Aramark (NYSE:ARMK) traded up 0.46% on Thursday, hitting $41.32. 158,468 shares of the stock were exchanged. The company has a market cap of $10.13 billion, a P/E ratio of 29.94 and a beta of 0.47. The company’s 50 day moving average price is $40.32 and its 200-day moving average price is $38.95. Aramark has a one year low of $32.73 and a one year high of $41.72.
Aramark (NYSE:ARMK) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.35 by $0.05. Aramark had a return on equity of 19.29% and a net margin of 2.37%. The company had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter last year, the company posted $0.34 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. Equities research analysts predict that Aramark will post $1.96 EPS for the current fiscal year.
TRADEMARK VIOLATION WARNING: This piece was published by American Banking News and is the sole property of of American Banking News. If you are reading this piece on another publication, it was illegally copied and republished in violation of United States and international trademark & copyright laws. The legal version of this piece can be accessed at https://www.americanbankingnews.com/2017/10/05/aramarks-armk-buy-rating-reaffirmed-at-royal-bank-of-canada.html.
A number of hedge funds have recently modified their holdings of the stock. FNY Managed Accounts LLC bought a new position in shares of Aramark during the first quarter valued at $110,000. Toronto Dominion Bank lifted its holdings in shares of Aramark by 19.0% during the second quarter. Toronto Dominion Bank now owns 3,027 shares of the company’s stock valued at $124,000 after acquiring an additional 483 shares during the period. Simplex Trading LLC bought a new position in shares of Aramark during the second quarter valued at $127,000. Acrospire Investment Management LLC lifted its holdings in shares of Aramark by 98.5% during the second quarter. Acrospire Investment Management LLC now owns 3,628 shares of the company’s stock valued at $149,000 after acquiring an additional 1,800 shares during the period. Finally, Pacer Advisors Inc. lifted its holdings in shares of Aramark by 3.3% during the first quarter. Pacer Advisors Inc. now owns 4,497 shares of the company’s stock valued at $166,000 after acquiring an additional 143 shares during the period. 94.84% of the stock is owned by hedge funds and other institutional investors.
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.