Aramark (ARMK) Price Target Raised to $47.00
Aramark (NYSE:ARMK) had its target price hoisted by research analysts at Royal Bank Of Canada from $44.00 to $47.00 in a research report issued on Tuesday. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price would suggest a potential upside of 10.51% from the stock’s current price.
A number of other analysts also recently weighed in on ARMK. Barclays PLC upped their price target on shares of Aramark from $37.00 to $39.00 and gave the stock an “equal weight” rating in a report on Friday, June 23rd. BidaskClub upgraded shares of Aramark from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 28th. Zacks Investment Research cut shares of Aramark from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Nomura reiterated a “buy” rating and set a $45.00 price objective (up from $43.00) on shares of Aramark in a research report on Wednesday, August 9th. Finally, Morgan Stanley upped their price objective on shares of Aramark from $39.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 10th. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $43.83.
Shares of Aramark (ARMK) opened at 42.53 on Tuesday. The firm has a market cap of $10.42 billion, a price-to-earnings ratio of 30.82 and a beta of 0.47. Aramark has a 12-month low of $32.73 and a 12-month high of $43.81. The stock’s 50 day moving average is $40.83 and its 200 day moving average is $39.22.
Aramark (NYSE:ARMK) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.05. Aramark had a net margin of 2.37% and a return on equity of 19.29%. The company had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter in the prior year, the firm posted $0.34 EPS. The firm’s quarterly revenue was up .2% on a year-over-year basis. Equities analysts expect that Aramark will post $1.96 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Lord Abbett & CO. LLC increased its position in Aramark by 58.8% in the 2nd quarter. Lord Abbett & CO. LLC now owns 1,804,100 shares of the company’s stock valued at $73,932,000 after acquiring an additional 668,047 shares during the period. Toronto Dominion Bank increased its position in Aramark by 19.0% in the 2nd quarter. Toronto Dominion Bank now owns 3,027 shares of the company’s stock valued at $124,000 after acquiring an additional 483 shares during the period. Advisory Services Network LLC increased its position in Aramark by 9.9% in the 2nd quarter. Advisory Services Network LLC now owns 7,930 shares of the company’s stock valued at $325,000 after acquiring an additional 713 shares during the period. WINTON GROUP Ltd acquired a new position in Aramark in the 2nd quarter valued at approximately $341,000. Finally, Public Employees Retirement System of Ohio increased its position in Aramark by 2.0% in 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 acquiring an additional 3,397 shares during the period. 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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