Zacks Investment Research Upgrades Aramark (NYSE:ARMK) to Hold

Aramark (NYSE:ARMK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Monday, Zacks.com reports.

According to Zacks, “ARAMARK Holdings Corporation offers food services, facilities management, uniform and career apparel to health care institutions, universities, school districts, stadiums and businesses. It operates primarily in three segments: Food and Support Services North America, Food and Support Services International and Uniform and Career Apparel segment. The company’s FSS North America and FSS International segment provides food, refreshment, specialized dietary and support services, including facility maintenance and housekeeping. Uniform segment provides rental, sale, cleaning, maintenance and delivery of personalized uniform and career apparel and other textile items. It operates primarily in North America, United Kingdom, Germany, Chile and Ireland. ARAMARK Holdings Corporation is headquartered in Philadelphia, PA. “

Several other equities research analysts have also recently issued reports on ARMK. ValuEngine raised shares of Aramark from a “sell” rating to a “hold” rating in a research report on Friday, May 1st. TheStreet lowered shares of Aramark from a “b-” rating to a “c+” rating in a report on Monday, March 9th. Barclays restated a “hold” rating and set a $20.00 price objective on shares of Aramark in a report on Thursday, March 19th. Robert W. Baird reduced their target price on Aramark from $25.00 to $24.00 and set a “neutral” rating on the stock in a report on Wednesday, May 6th. Finally, Oppenheimer reissued a “buy” rating and set a $30.00 price target on shares of Aramark in a research report on Wednesday, April 22nd. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Aramark has an average rating of “Hold” and an average price target of $36.23.

Shares of NYSE ARMK opened at $22.41 on Monday. Aramark has a 12-month low of $9.65 and a 12-month high of $47.22. The company has a market capitalization of $5.52 billion, a PE ratio of 50.93, a price-to-earnings-growth ratio of 8.29 and a beta of 1.65. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.59 and a quick ratio of 1.42. The firm’s 50-day moving average is $25.39 and its two-hundred day moving average is $32.09.

Aramark (NYSE:ARMK) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. Aramark had a net margin of 0.70% and a return on equity of 15.52%. The business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.73 billion. During the same quarter in the previous year, the business posted $0.45 earnings per share. The company’s revenue was down 6.7% on a year-over-year basis. On average, analysts forecast that Aramark will post 0.47 EPS for the current fiscal year.

In related news, insider Keith Bethel sold 5,000 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $28.02, for a total transaction of $140,100.00. Following the completion of the sale, the insider now directly owns 50,837 shares of the company’s stock, valued at approximately $1,424,452.74. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Thomas Gerard Ondrof purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were purchased at an average cost of $24.99 per share, for a total transaction of $249,900.00. Following the purchase, the chief financial officer now directly owns 27,709 shares in the company, valued at $692,447.91. The disclosure for this purchase can be found here. Insiders own 10.30% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. US Bancorp DE boosted its stake in shares of Aramark by 28.0% during the 1st quarter. US Bancorp DE now owns 2,539 shares of the company’s stock valued at $51,000 after buying an additional 555 shares during the last quarter. Fort L.P. boosted its stake in Aramark by 25.8% during the 1st quarter. Fort L.P. now owns 2,749 shares of the company’s stock valued at $55,000 after acquiring an additional 564 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in Aramark by 44.9% during the 4th quarter. Quadrant Capital Group LLC now owns 4,084 shares of the company’s stock worth $176,000 after acquiring an additional 1,265 shares in the last quarter. Column Capital Advisors LLC increased its position in shares of Aramark by 20.7% in the 1st quarter. Column Capital Advisors LLC now owns 5,220 shares of the company’s stock worth $104,000 after purchasing an additional 895 shares during the last quarter. Finally, Advisor Group Holdings Inc. acquired a new stake in shares of Aramark in the 1st quarter valued at about $111,000. 98.41% of the stock is currently owned by institutional investors and hedge funds.

About Aramark

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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