Bank of America initiated coverage on shares of Aramark (NYSE:ARMK) in a research report sent to investors on Tuesday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $49.00 price objective on the stock.
Several other equities analysts have also issued reports on ARMK. ValuEngine lowered shares of Aramark from a hold rating to a sell rating in a report on Friday, August 3rd. Morgan Stanley lifted their price objective on shares of Aramark from $42.00 to $44.00 and gave the company a hold rating in a report on Wednesday, August 8th. Robert W. Baird lowered shares of Aramark from an outperform rating to a neutral rating and set a $37.00 price objective on the stock. in a report on Wednesday, August 8th. Zacks Investment Research lowered shares of Aramark from a hold rating to a sell rating in a report on Tuesday, July 24th. Finally, Credit Suisse Group began coverage on shares of Aramark in a report on Friday, August 10th. They set an outperform rating and a $52.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. Aramark currently has an average rating of Hold and an average price target of $47.44.
Shares of NYSE:ARMK opened at $34.55 on Tuesday. The company has a market cap of $8.63 billion, a PE ratio of 19.52, a P/E/G ratio of 1.18 and a beta of 0.69. Aramark has a one year low of $33.98 and a one year high of $46.09. The company has a debt-to-equity ratio of 2.74, a quick ratio of 1.03 and a current ratio of 1.36.
In other Aramark news, EVP Stephen R. Reynolds sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $41.33, for a total value of $619,950.00. Following the completion of the sale, the executive vice president now directly owns 47,058 shares in the company, valued at $1,944,907.14. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.90% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Oppenheimer Asset Management Inc. lifted its stake in shares of Aramark by 83.8% during the third quarter. Oppenheimer Asset Management Inc. now owns 110,835 shares of the company’s stock worth $4,768,000 after buying an additional 50,537 shares during the period. Waratah Capital Advisors Ltd. acquired a new stake in shares of Aramark during the third quarter worth $3,599,000. Reinhart Partners Inc. lifted its stake in shares of Aramark by 0.5% during the third quarter. Reinhart Partners Inc. now owns 497,567 shares of the company’s stock worth $21,405,000 after buying an additional 2,507 shares during the period. IFP Advisors Inc lifted its stake in shares of Aramark by 985.5% during the third quarter. IFP Advisors Inc now owns 2,399 shares of the company’s stock worth $103,000 after buying an additional 2,178 shares during the period. Finally, Three Peaks Capital Management LLC lifted its stake in shares of Aramark by 67.1% during the third quarter. Three Peaks Capital Management LLC now owns 73,327 shares of the company’s stock worth $3,155,000 after buying an additional 29,457 shares during the period. Institutional investors own 98.08% of the company’s stock.
Aramark Company Profile
Aramark provides food, facilities, and uniform services to education, healthcare, business and industry, sports, leisure, and corrections clients in North America and internationally. The company operates through three segments: Food and Support Services North America, Food and Support Services International, Uniform and Career Apparel.
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