Aramark’s (ARMK) “Outperform” Rating Reiterated at Credit Suisse Group

Aramark (NYSE:ARMK)‘s stock had its “outperform” rating reiterated by equities research analysts at Credit Suisse Group in a note issued to investors on Wednesday, MarketBeat Ratings reports. They currently have a $50.00 price target on the stock. Credit Suisse Group’s target price would suggest a potential upside of 8.72% from the stock’s current price.

Several other research firms have also recently weighed in on ARMK. BidaskClub raised shares of Aramark from a “hold” rating to a “buy” rating in a research note on Wednesday, October 18th. Barclays lifted their target price on Aramark from $45.00 to $47.00 and gave the stock an “equal weight” rating in a report on Saturday, December 30th. Nomura lifted their target price on Aramark from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday, October 17th. Stifel Nicolaus began coverage on Aramark in a report on Tuesday, December 19th. They set a “buy” rating and a $50.00 target price for the company. Finally, Zacks Investment Research downgraded Aramark from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 18th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $46.88.

Aramark (NYSE ARMK) traded up $0.19 during trading on Wednesday, reaching $45.99. 465,377 shares of the company’s stock were exchanged, compared to its average volume of 1,130,000. The firm has a market cap of $11,270.00, a P/E ratio of 31.07, a PEG ratio of 1.94 and a beta of 0.47. The company has a current ratio of 1.12, a quick ratio of 0.86 and a debt-to-equity ratio of 2.11. Aramark has a 52 week low of $33.00 and a 52 week high of $46.08.

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

In other news, Director Sanjeev K. Mehra bought 19,640 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was bought at an average price 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 accessible through this link. 2.90% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of ARMK. Pegasus Partners Ltd. lifted its stake in Aramark by 41.8% in the third quarter. Pegasus Partners Ltd. now owns 104,938 shares of the company’s stock valued at $4,262,000 after buying an additional 30,941 shares during the period. Goldman Sachs Group Inc. grew its stake in Aramark by 2.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,898,636 shares of the company’s stock valued at $77,806,000 after purchasing an additional 43,708 shares during the period. Swiss National Bank grew its stake in Aramark by 0.6% in the 3rd quarter. Swiss National Bank now owns 1,913,100 shares of the company’s stock valued at $77,691,000 after purchasing an additional 12,000 shares during the period. Dimensional Fund Advisors LP grew its stake in Aramark by 2.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,511,775 shares of the company’s stock valued at $61,392,000 after purchasing an additional 31,270 shares during the period. Finally, Oribel Capital Management LP grew its stake in Aramark by 256.1% in the 3rd quarter. Oribel Capital Management LP now owns 246,400 shares of the company’s stock valued at $10,007,000 after purchasing an additional 177,200 shares during the period. 95.30% of the stock is owned by institutional investors and hedge funds.

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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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