Aramark’s (ARMK) “Buy” Rating Reiterated at Royal Bank of Canada

Aramark (NYSE:ARMK)‘s stock had its “buy” rating reiterated by analysts at Royal Bank of Canada in a research note issued to investors on Friday. They presently have a $51.00 target price on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 14.53% from the stock’s current price.

A number of other equities research analysts also recently issued reports on the stock. Barclays increased their price target on shares of Aramark from $45.00 to $47.00 and gave the stock an “equal weight” rating in a report on Saturday, December 30th. Stifel Nicolaus assumed coverage on shares of Aramark in a report on Tuesday, December 19th. They issued a “buy” rating and a $50.00 price target on the stock. Zacks Investment Research raised shares of Aramark from a “sell” rating to a “hold” rating in a report on Wednesday, November 22nd. Nomura lowered their price target on shares of Aramark from $47.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, November 15th. Finally, BidaskClub raised shares of Aramark from a “hold” rating to a “buy” rating in a research note on Wednesday, October 18th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $46.43.

Shares of Aramark (ARMK) traded down $0.09 during trading on Friday, hitting $44.53. 1,116,500 shares of the stock were exchanged, compared to its average volume of 1,202,292. Aramark has a 52-week low of $32.87 and a 52-week high of $44.80. The stock has a market capitalization of $10,958.04, a P/E ratio of 29.89, a price-to-earnings-growth ratio of 1.89 and a beta of 0.47. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.86 and a current ratio of 1.12.

Aramark (NYSE:ARMK) last announced its quarterly earnings results on Tuesday, November 14th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. Aramark had a net margin of 2.56% and a return on equity of 19.29%. The firm had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same period in the prior year, the firm posted $0.49 earnings per share. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. equities research analysts expect that Aramark will post 1.96 EPS for the current year.

In related news, Director Sanjeev K. Mehra bought 19,640 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were acquired at an average cost of $40.75 per share, with a total value of $800,330.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of ARMK. BlackRock Inc. grew its position in Aramark by 4,277.8% during the first quarter. BlackRock Inc. now owns 12,453,306 shares of the company’s stock valued at $459,151,000 after acquiring an additional 12,168,838 shares during the last quarter. Capital Research Global Investors bought a new position in Aramark during the third quarter valued at approximately $216,175,000. Price T Rowe Associates Inc. MD grew its position in Aramark by 64.9% during the third quarter. Price T Rowe Associates Inc. MD now owns 13,287,679 shares of the company’s stock valued at $505,330,000 after acquiring an additional 5,229,490 shares during the last quarter. Atlanta Capital Management Co. L L C bought a new position in Aramark during the first quarter valued at approximately $157,788,000. Finally, Janus Henderson Group PLC grew its position in Aramark by 13,882.8% during the second quarter. Janus Henderson Group PLC now owns 2,833,624 shares of the company’s stock valued at $116,122,000 after acquiring an additional 2,813,359 shares during the last quarter. Institutional investors and hedge funds own 95.40% of the company’s stock.

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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).

Analyst Recommendations for Aramark (NYSE:ARMK)

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