Aramark (ARMK) Given New $42.00 Price Target at Morgan Stanley

Aramark (NYSE:ARMK) had its price objective lifted by Morgan Stanley from $41.00 to $42.00 in a research note issued on Wednesday. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target points to a potential downside of 8.32% from the company’s current price.

ARMK has been the topic of several other reports. Barclays increased their price objective on shares of Aramark from $45.00 to $47.00 and gave the stock an “equal weight” rating in a report on Friday, December 22nd. Nomura cut 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. Zacks Investment Research upgraded shares of Aramark from a “sell” rating to a “hold” rating in a report on Wednesday, November 22nd. BidaskClub upgraded shares of Aramark from a “hold” rating to a “buy” rating in a report on Wednesday, October 18th. Finally, Royal Bank of Canada restated a “buy” rating on shares of Aramark in a report on Thursday, October 5th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $47.13.

Shares of Aramark (NYSE ARMK) traded up $0.28 during mid-day trading on Wednesday, hitting $45.81. 1,140,000 shares of the stock traded hands, compared to its average volume of 1,100,000. The stock has a market cap of $11,230.00, a price-to-earnings ratio of 30.95, a P/E/G ratio of 1.93 and a beta of 0.47. Aramark has a 1-year low of $33.00 and a 1-year high of $46.09. 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 data on Tuesday, November 14th. The company reported $0.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.02. The business had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.70 billion. Aramark had a net margin of 2.56% and a return on equity of 19.29%. The company’s revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.49 EPS. equities analysts expect that Aramark will post 1.96 earnings per share for the current year.

In other Aramark news, Director Sanjeev K. Mehra purchased 19,640 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were purchased at an average price of $40.75 per share, for a total transaction of $800,330.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.30% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Cerebellum GP LLC purchased a new stake in shares of Aramark during the fourth quarter valued at approximately $127,000. Toronto Dominion Bank raised its stake 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 purchasing an additional 483 shares during the period. Advisor Group Inc. raised its stake in shares of Aramark by 85.7% during the third quarter. Advisor Group Inc. now owns 3,342 shares of the company’s stock valued at $136,000 after purchasing an additional 1,542 shares during the period. SG Americas Securities LLC raised its stake in shares of Aramark by 54.9% during the fourth quarter. SG Americas Securities LLC now owns 3,954 shares of the company’s stock valued at $169,000 after purchasing an additional 1,401 shares during the period. Finally, Highlander Capital Management LLC purchased a new stake in shares of Aramark during the third quarter valued at approximately $203,000. Institutional investors own 94.79% of the company’s stock.

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About Aramark

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)