Aramark (NYSE:ARMK) PT Raised to $40.00 at Morgan Stanley
Aramark (NYSE:ARMK) had its price target increased by research analysts at Morgan Stanley from $39.00 to $40.00 in a research report issued on Thursday. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 1.65% from the company’s current price.
A number of other equities research analysts also recently commented on ARMK. Zacks Investment Research upgraded shares of Aramark from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research report on Tuesday, April 25th. Deutsche Bank AG raised their price objective on shares of Aramark from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, May 10th. BidaskClub upgraded shares of Aramark from a “hold” rating to a “buy” rating in a research report on Friday, June 16th. Barclays PLC raised 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. Finally, Nomura raised their price objective on shares of Aramark from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $43.10.
Shares of Aramark (ARMK) traded down 1.77% during trading on Thursday, hitting $39.35. The company had a trading volume of 1,343,905 shares. The firm has a market capitalization of $9.61 billion, a P/E ratio of 28.51 and a beta of 0.48. Aramark has a 52-week low of $32.73 and a 52-week high of $41.72. The stock’s 50-day moving average is $40.43 and its 200 day moving average is $37.57.
Aramark (NYSE:ARMK) last announced its earnings results on Tuesday, August 8th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.05. Aramark had a net margin of 2.37% and a return on equity of 19.53%. The business 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 earned $0.34 earnings per share. The business’s quarterly revenue was up .2% compared to the same quarter last year. Equities research analysts predict that Aramark will post $1.97 earnings per share for the current fiscal year.
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In other Aramark news, VP James J. Tarangelo sold 3,000 shares of Aramark stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $37.15, for a total value of $111,450.00. Following the transaction, the vice president now owns 2,871 shares in the company, valued at approximately $106,657.65. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Brian P. Pressler sold 10,629 shares of Aramark stock in a transaction on Friday, June 16th. The shares were sold at an average price of $40.80, for a total transaction of $433,663.20. Following the completion of the transaction, the senior vice president now owns 14,285 shares in the company, valued at approximately $582,828. The disclosure for this sale can be found here. Insiders sold a total of 143,629 shares of company stock valued at $5,618,413 over the last ninety days. 2.90% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the stock. US Bancorp DE raised its position in shares of Aramark by 0.6% in the first quarter. US Bancorp DE now owns 6,417 shares of the company’s stock worth $237,000 after buying an additional 41 shares during the period. CAPROCK Group Inc. raised its position in shares of Aramark by 0.8% in the second quarter. CAPROCK Group Inc. now owns 5,528 shares of the company’s stock worth $227,000 after buying an additional 43 shares during the period. Arizona State Retirement System raised its position in shares of Aramark by 0.3% in the first quarter. Arizona State Retirement System now owns 38,500 shares of the company’s stock worth $1,419,000 after buying an additional 100 shares during the period. Pacer Advisors Inc. raised its position in shares of Aramark by 3.3% in the first quarter. Pacer Advisors Inc. now owns 4,497 shares of the company’s stock worth $166,000 after buying an additional 143 shares during the period. Finally, Atria Investments LLC raised its position in shares of Aramark by 0.8% in the second quarter. Atria Investments LLC now owns 25,185 shares of the company’s stock worth $1,032,000 after buying an additional 209 shares during the period. Institutional investors own 95.94% of the company’s stock.
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).
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