BidaskClub cut shares of Aramark (NYSE:ARMK) from a sell rating to a strong sell rating in a research note published on Saturday morning.
A number of other equities research analysts also recently weighed in on the stock. Deutsche Bank AG boosted 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. 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. Zacks Investment Research downgraded shares of Aramark from a buy rating to a hold rating in a research report on Tuesday, July 11th. 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, Nomura reaffirmed a buy rating and set a $45.00 price objective (up previously from $43.00) on shares of Aramark in a research report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $43.00.
Aramark (ARMK) opened at 39.22 on Friday. The stock has a market cap of $9.61 billion, a price-to-earnings ratio of 28.42 and a beta of 0.48. Aramark has a one year low of $32.73 and a one year high of $41.72. The firm’s 50 day moving average price is $40.20 and its 200 day moving average price is $37.77.
Aramark (NYSE:ARMK) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. Aramark had a net margin of 2.37% and a return on equity of 19.29%. 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 EPS. The company’s revenue for the quarter was up .2% compared to the same quarter last year. Equities analysts forecast that Aramark will post $1.96 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Wednesday, August 16th will be paid a dividend of $0.103 per share. This represents a $0.41 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Monday, August 14th. Aramark’s payout ratio is 29.93%.
In other Aramark news, SVP Brian P. Pressler sold 10,629 shares of the business’s stock in a transaction dated 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 directly owns 14,285 shares of the company’s stock, valued at approximately $582,828. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Stephen R. Reynolds sold 30,000 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $40.41, for a total transaction of $1,212,300.00. Following the transaction, the executive vice president now directly owns 62,460 shares of the company’s stock, valued at $2,524,008.60. The disclosure for this sale can be found here. Insiders have sold a total of 143,629 shares of company stock valued at $5,618,413 over the last three months. 2.90% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Atria Investments LLC raised its stake 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 in the last quarter. State of Alaska Department of Revenue raised its stake in shares of Aramark by 6.4% in the second quarter. State of Alaska Department of Revenue now owns 17,231 shares of the company’s stock worth $706,000 after buying an additional 1,032 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Aramark by 17.9% in the fourth quarter. UBS Asset Management Americas Inc. now owns 569,559 shares of the company’s stock worth $20,344,000 after buying an additional 86,342 shares in the last quarter. Neuberger Berman Group LLC raised its stake in shares of Aramark by 9.7% in the first quarter. Neuberger Berman Group LLC now owns 522,500 shares of the company’s stock worth $19,265,000 after buying an additional 46,302 shares in the last quarter. Finally, Simplex Trading LLC bought a new stake in shares of Aramark during the second quarter worth $127,000. 95.72% of the stock is owned by hedge funds and other institutional investors.
About Aramark
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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