Aramark (ARMK) Downgraded by Zacks Investment Research to “Strong Sell”
Zacks Investment Research downgraded shares of Aramark (NYSE:ARMK) from a hold rating to a strong sell rating in a research report report published on Wednesday.
According to Zacks, “ARAMARK Holdings Corporation offers food services, facilities management, uniform and career apparel to health care institutions, universities, school districts, stadiums and businesses. It operates primarily in three segments: Food and Support Services North America, Food and Support Services International and Uniform and Career Apparel segment. The company’s FSS North America and FSS International segment provides food, refreshment, specialized dietary and support services, including facility maintenance and housekeeping. Uniform segment provides rental, sale, cleaning, maintenance and delivery of personalized uniform and career apparel and other textile items. It operates primarily in North America, United Kingdom, Germany, Chile and Ireland. ARAMARK Holdings Corporation is headquartered in Philadelphia, PA. “
ARMK has been the topic of a number of other reports. BidaskClub raised shares of Aramark from a hold rating to a buy rating in a research report on Wednesday. Nomura boosted their price objective on shares of Aramark from $45.00 to $47.00 and gave the company a buy rating in a research report on Tuesday. Royal Bank Of Canada reissued a buy rating on shares of Aramark in a research report on Thursday, October 5th. Morgan Stanley boosted their price objective on shares of Aramark from $39.00 to $40.00 and gave the company an equal weight rating in a research report on Thursday, August 10th. Finally, Barclays PLC boosted their price objective on shares of Aramark from $37.00 to $39.00 and gave the company an equal weight rating in a research report on Friday, June 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $45.17.
Shares of Aramark (ARMK) traded down 0.44% on Wednesday, reaching $42.77. 757,192 shares of the company traded hands. Aramark has a one year low of $32.73 and a one year high of $42.94. The stock has a market capitalization of $10.48 billion, a P/E ratio of 30.99 and a beta of 0.47. The stock’s 50 day moving average price is $41.03 and its 200-day moving average price is $39.33.
Aramark (NYSE:ARMK) last issued its quarterly earnings data on Tuesday, August 8th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.05. The business had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.61 billion. Aramark had a net margin of 2.37% and a return on equity of 19.29%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.34 EPS. Equities analysts forecast that Aramark will post $1.96 earnings per share for the current fiscal year.
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Several hedge funds have recently made changes to their positions in the company. Lord Abbett & CO. LLC boosted its holdings in shares of Aramark by 58.8% during the 2nd quarter. Lord Abbett & CO. LLC now owns 1,804,100 shares of the company’s stock valued at $73,932,000 after buying an additional 668,047 shares in the last quarter. Toronto Dominion Bank boosted its holdings in shares of Aramark by 19.0% during the 2nd quarter. Toronto Dominion Bank now owns 3,027 shares of the company’s stock valued at $124,000 after buying an additional 483 shares in the last quarter. Advisory Services Network LLC boosted its holdings in shares of Aramark by 9.9% during the 2nd quarter. Advisory Services Network LLC now owns 7,930 shares of the company’s stock valued at $325,000 after buying an additional 713 shares in the last quarter. WINTON GROUP Ltd bought a new stake in shares of Aramark during the 2nd quarter valued at $341,000. Finally, Public Employees Retirement System of Ohio boosted its holdings in shares of Aramark by 2.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 173,441 shares of the company’s stock valued at $7,108,000 after buying an additional 3,397 shares in the last quarter. Hedge funds and other institutional investors own 94.69% of the company’s stock.
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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