StockNews.com Upgrades Aramark (NYSE:ARMK) to Hold

by · The Markets Daily

Aramark (NYSE:ARMK – Get Free Report) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Saturday.

A number of other brokerages have also recently commented on ARMK. Bank of America upped their price target on shares of Aramark from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. increased their target price on Aramark from $39.00 to $41.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Morgan Stanley boosted their price objective on Aramark from $35.00 to $38.00 and gave the company an “equal weight” rating in a research note on Monday, September 9th. Robert W. Baird raised their target price on Aramark from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Finally, Truist Financial increased their price target on shares of Aramark from $37.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.36.

Get Our Latest Research Report on Aramark

Aramark Trading Down 3.0 %

Shares of ARMK stock opened at $37.75 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.96 and a debt-to-equity ratio of 1.71. The firm has a market cap of $9.93 billion, a P/E ratio of 15.86, a PEG ratio of 2.04 and a beta of 1.62. The company has a 50 day moving average of $35.43 and a 200-day moving average of $33.46. Aramark has a 12-month low of $23.95 and a 12-month high of $38.99.

Aramark (NYSE:ARMK – Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. Aramark had a return on equity of 14.09% and a net margin of 1.93%. The firm had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.31 billion. During the same quarter in the prior year, the firm earned $0.36 EPS. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. Sell-side analysts anticipate that Aramark will post 1.57 earnings per share for the current year.

Institutional Trading of Aramark

A number of hedge funds have recently bought and sold shares of ARMK. Artisan Partners Limited Partnership boosted its position in Aramark by 9.3% during the fourth quarter. Artisan Partners Limited Partnership now owns 391,727 shares of the company’s stock valued at $11,008,000 after buying an additional 33,206 shares during the period. Bank of Nova Scotia grew its position in Aramark by 84.7% during the 4th quarter. Bank of Nova Scotia now owns 1,192,142 shares of the company’s stock worth $33,498,000 after acquiring an additional 546,796 shares during the last quarter. SG Americas Securities LLC increased its stake in Aramark by 131.8% in the 1st quarter. SG Americas Securities LLC now owns 97,167 shares of the company’s stock worth $3,160,000 after purchasing an additional 55,249 shares during the period. Public Sector Pension Investment Board bought a new stake in Aramark in the fourth quarter valued at approximately $75,477,000. Finally, Vanguard Group Inc. boosted its stake in shares of Aramark by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 25,584,242 shares of the company’s stock valued at $718,917,000 after purchasing an additional 139,693 shares during the period.

About Aramark

(Get Free Report)

Aramark provides food and facilities services to education, healthcare, business and industry, sports, leisure, and corrections clients in the United States and internationally. It operates through two segments, Food and Support Services United States, and Food and Support Services International. The company offers food-related managed services, including dining, catering, food service management, and convenience-oriented retail services; non-clinical food and food-related support services, such as patient food and nutrition, retail food, environmental services, and procurement services; and plant operations and maintenance, custodial/housekeeping, energy management, grounds keeping, and capital project management services.

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