Oppenheimer Begins Coverage on Aramark (NYSE:ARMK)

Investment analysts at Oppenheimer assumed coverage on shares of Aramark (NYSE:ARMK) in a research report issued on Thursday, The Fly reports. The brokerage set an “outperform” rating and a $50.00 price target on the stock. Oppenheimer’s target price suggests a potential upside of 25.13% from the company’s current price.

Several other research firms have also issued reports on ARMK. TheStreet upgraded Aramark from a “c+” rating to a “b-” rating in a research note on Friday, July 5th. Zacks Investment Research upgraded Aramark from a “sell” rating to a “hold” rating in a research note on Tuesday, July 16th. Morgan Stanley set a $34.00 target price on Aramark and gave the company a “hold” rating in a research note on Wednesday, May 8th. ValuEngine upgraded Aramark from a “sell” rating to a “hold” rating in a research note on Thursday, May 30th. Finally, Nomura upgraded Aramark from a “neutral” rating to a “buy” rating and lifted their target price for the company from $28.00 to $50.00 in a research note on Monday. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $43.23.

Shares of Aramark stock traded up $0.29 during trading on Thursday, hitting $39.96. 2,250,301 shares of the stock traded hands, compared to its average volume of 3,416,584. The firm has a market cap of $9.92 billion, a P/E ratio of 20.08, a price-to-earnings-growth ratio of 2.30 and a beta of 0.91. The company has a current ratio of 1.22, a quick ratio of 1.04 and a debt-to-equity ratio of 2.19. Aramark has a 52-week low of $25.49 and a 52-week high of $43.70. The stock’s fifty day simple moving average is $36.77 and its 200 day simple moving average is $33.14.



Aramark (NYSE:ARMK) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.39 by $0.08. The firm had revenue of $4.01 billion for the quarter, compared to analyst estimates of $3.99 billion. Aramark had a return on equity of 17.39% and a net margin of 3.33%. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.48 earnings per share. As a group, equities analysts expect that Aramark will post 2.03 EPS for the current year.

In other news, insider Keith Bethel sold 7,500 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $37.40, for a total transaction of $280,500.00. Following the sale, the insider now owns 43,692 shares in the company, valued at $1,634,080.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.30% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the company. Cullen Frost Bankers Inc. acquired a new stake in shares of Aramark during the second quarter worth about $32,000. Squar Milner Financial Services LLC lifted its holdings in shares of Aramark by 8.4% during the second quarter. Squar Milner Financial Services LLC now owns 3,712 shares of the company’s stock worth $134,000 after purchasing an additional 288 shares during the period. Machina Capital S.A.S. lifted its holdings in shares of Aramark by 18.3% during the second quarter. Machina Capital S.A.S. now owns 5,456 shares of the company’s stock worth $197,000 after purchasing an additional 844 shares during the period. Wetherby Asset Management Inc. acquired a new stake in shares of Aramark during the second quarter worth about $206,000. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Aramark during the second quarter worth about $223,000. Institutional investors and hedge funds own 93.82% of the company’s stock.

Aramark Company Profile

Aramark provides food, facilities management, and uniform services to education, healthcare, business and industry, sports, leisure, and corrections clients in North America and internationally. It operates in three segments: Food and Support Services United States, Food and Support Services International, and Uniform and Career Apparel.

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Analyst Recommendations for Aramark (NYSE:ARMK)

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