Aramark (NYSE:ARMK) Upgraded by Zacks Investment Research to Hold

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

ARMK has been the topic of several other research reports. Redburn Partners assumed coverage on Aramark in a report on Friday, September 10th. They set a “buy” rating on the stock. Barclays downgraded shares of Aramark from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $35.00 to $32.00 in a research note on Friday, September 17th. Finally, Berenberg Bank raised shares of Aramark to a “hold” rating and set a $36.00 price target on the stock in a research report on Thursday, June 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $34.13.

Aramark stock traded down $0.25 during midday trading on Tuesday, reaching $33.64. The stock had a trading volume of 57,005 shares, compared to its average volume of 1,912,907. Aramark has a 52-week low of $25.84 and a 52-week high of $43.12. The company has a fifty day moving average of $34.07 and a 200 day moving average of $36.54. The firm has a market cap of $8.59 billion, a price-to-earnings ratio of -31.15 and a beta of 1.95. The company has a quick ratio of 0.95, a current ratio of 1.12 and a debt-to-equity ratio of 2.83.

Aramark (NYSE:ARMK) last released its quarterly earnings data on Monday, August 9th. The company reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.02. The company had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $3.07 billion. Aramark had a negative net margin of 2.45% and a negative return on equity of 8.24%. Aramark’s revenue for the quarter was up 38.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.69) earnings per share. Equities research analysts predict that Aramark will post -0.32 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of ARMK. JPMorgan Chase & Co. lifted its stake in shares of Aramark by 518.8% during the second quarter. JPMorgan Chase & Co. now owns 3,323,460 shares of the company’s stock valued at $123,799,000 after buying an additional 2,786,383 shares during the period. Pendal Group Limited raised its position in shares of Aramark by 9,699.5% during the 1st quarter. Pendal Group Limited now owns 2,724,756 shares of the company’s stock valued at $102,941,000 after acquiring an additional 2,696,951 shares during the last quarter. EdgePoint Investment Group Inc. boosted its stake in shares of Aramark by 48.7% during the 1st quarter. EdgePoint Investment Group Inc. now owns 7,143,626 shares of the company’s stock worth $269,886,000 after buying an additional 2,339,964 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Aramark by 55.4% in the second quarter. Bank of New York Mellon Corp now owns 5,130,696 shares of the company’s stock valued at $191,119,000 after buying an additional 1,828,695 shares in the last quarter. Finally, MUFG Securities EMEA plc increased its stake in Aramark by 572.0% in the first quarter. MUFG Securities EMEA plc now owns 1,680,100 shares of the company’s stock valued at $63,474,000 after purchasing an additional 1,430,100 shares in the last quarter.

Aramark Company Profile

Aramark engages in the provision of food, facilities, and uniform services. It operates through the following segments: Food and Support Services United States (FSS United States); Food and Support Services International (FSS International); and Uniform. The FSS United States segment offers food, hospitality and facility services for school districts, colleges and universities, healthcare facilities, businesses, sports, entertainment and recreational venues, conference and convention centers, national and state parks, and correctional institutions.

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