Aramark (NYSE:ARMK) Rating Lowered to Sell at BidaskClub
BidaskClub downgraded shares of Aramark (NYSE:ARMK) from a hold rating to a sell rating in a report issued on Friday.
Other analysts have also recently issued research reports about the company. Zacks Investment Research raised Aramark from a hold rating to a buy rating and set a $42.00 target price for the company in a research report on Friday, May 12th. Deutsche Bank AG raised their target price on Aramark from $42.00 to $48.00 and gave the stock a buy rating in a research report on Wednesday, May 10th. Finally, Barclays PLC raised their target price on Aramark from $37.00 to $39.00 and gave the stock an equal weight rating in a research report on Friday, June 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $42.90.
Shares of Aramark (NYSE ARMK) opened at 39.86 on Friday. The firm’s 50-day moving average price is $40.52 and its 200 day moving average price is $37.29. Aramark has a 52 week low of $32.73 and a 52 week high of $41.72. The firm has a market capitalization of $9.73 billion, a price-to-earnings ratio of 30.61 and a beta of 0.49.
Aramark (NYSE:ARMK) last issued its earnings results on Tuesday, May 9th. The company reported $0.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.08. The business had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.63 billion. Aramark had a return on equity of 19.13% and a net margin of 2.23%. Aramark’s revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.39 earnings per share. On average, analysts anticipate that Aramark will post $1.96 EPS for the current year.
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In related news, EVP Lynn Mckee sold 100,000 shares of Aramark stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $38.61, for a total transaction of $3,861,000.00. Following the completion of the sale, the executive vice president now owns 304,736 shares of the company’s stock, valued at $11,765,856.96. The transaction was disclosed in a legal filing with the SEC, which is available 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 value of $433,663.20. Following the sale, the senior vice president now directly owns 14,285 shares of the company’s stock, valued at approximately $582,828. The disclosure for this sale can be found here. In the last three months, insiders have sold 143,629 shares of company stock valued at $5,618,413. Insiders own 2.90% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in ARMK. BlackRock Inc. boosted its stake in Aramark by 4,277.8% in the first quarter. BlackRock Inc. now owns 12,453,306 shares of the company’s stock worth $459,151,000 after buying an additional 12,168,838 shares during the last quarter. Vanguard Group Inc. boosted its stake in Aramark by 3.8% in the first quarter. Vanguard Group Inc. now owns 19,369,393 shares of the company’s stock worth $714,150,000 after buying an additional 714,510 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Aramark during the first quarter worth about $23,154,000. Rothschild Asset Management Inc. boosted its stake in Aramark by 4,199.6% in the second quarter. Rothschild Asset Management Inc. now owns 614,670 shares of the company’s stock worth $25,189,000 after buying an additional 600,374 shares during the last quarter. Finally, Systematic Financial Management LP purchased a new stake in Aramark during the first quarter worth about $21,744,000. 95.58% of the stock is owned by hedge funds and other institutional investors.
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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