Stifel Nicolaus initiated coverage on shares of Aramark (NYSE:ARMK) in a research report released on Tuesday, December 19th, MarketBeat reports. The brokerage issued a buy rating and a $50.00 price objective on the stock.
Several other research firms have also recently commented on ARMK. BidaskClub raised shares of Aramark from a hold rating to a buy rating in a research note on Wednesday, October 18th. Barclays reaffirmed a hold rating and issued a $45.00 price objective on shares of Aramark in a research note on Thursday, October 19th. Zacks Investment Research cut shares of Aramark from a hold rating to a strong sell rating in a research note on Wednesday, October 18th. Nomura lifted their price objective on shares of Aramark from $45.00 to $47.00 and gave the stock a buy rating in a research note on Tuesday, October 17th. Finally, Royal Bank of Canada lifted their price objective on shares of Aramark from $44.00 to $47.00 and gave the stock an outperform rating in a research note on Tuesday, October 17th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Buy and a consensus price target of $45.86.
Aramark (ARMK) traded up $0.04 during trading on Tuesday, reaching $44.07. 1,331,114 shares of the company’s stock traded hands, compared to its average volume of 1,014,513. The firm has a market cap of $10,813.15, a PE ratio of 29.58, a price-to-earnings-growth ratio of 1.87 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 has a 52-week low of $32.87 and a 52-week high of $44.28.
Aramark (NYSE:ARMK) last released its earnings results on Tuesday, November 14th. The company reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.02. The firm had revenue of $3.65 billion for the quarter, compared to analysts’ expectations of $3.70 billion. Aramark had a net margin of 2.56% and a return on equity of 19.29%. Aramark’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the company earned $0.49 EPS. equities research analysts anticipate that Aramark will post 1.96 earnings per share for the current year.
In other news, Director Sanjeev K. Mehra bought 19,640 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was bought at an average cost 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 available through the SEC website. Company insiders own 2.90% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Aramark by 2.6% during the second quarter. Vanguard Group Inc. now owns 19,876,655 shares of the company’s stock worth $814,546,000 after purchasing an additional 507,262 shares during the period. FMR LLC boosted its holdings in shares of Aramark by 3.3% during the second quarter. FMR LLC now owns 13,215,194 shares of the company’s stock worth $541,558,000 after purchasing an additional 421,291 shares during the period. BlackRock Inc. boosted its holdings in shares of Aramark by 1.4% during the second quarter. BlackRock Inc. now owns 12,627,800 shares of the company’s stock worth $517,486,000 after purchasing an additional 174,494 shares during the period. Atlanta Capital Management Co. L L C boosted its holdings in shares of Aramark by 0.5% during the third quarter. Atlanta Capital Management Co. L L C now owns 9,981,130 shares of the company’s stock worth $405,334,000 after purchasing an additional 49,737 shares during the period. Finally, State Street Corp boosted its holdings in shares of Aramark by 5.3% during the second quarter. State Street Corp now owns 4,684,792 shares of the company’s stock worth $191,980,000 after purchasing an additional 237,320 shares during the period. Institutional investors own 95.25% of the company’s stock.
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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).
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