Barclays PLC downgraded shares of Aramark (NYSE:ARMK) from an overweight rating to an equal weight rating in a report published on Tuesday. The firm currently has $37.00 price target on the stock, down from their previous price target of $38.00.
Several other analysts also recently commented on the company. Zacks Investment Research downgraded Aramark from a hold rating to a sell rating in a research note on Friday, November 18th. RBC Capital Markets reaffirmed a buy rating and set a $41.00 price objective (down previously from $42.00) on shares of Aramark in a research note on Wednesday, November 16th. Finally, Royal Bank Of Canada dropped their price objective on Aramark from $42.00 to $41.00 and set a top pick rating on the stock in a research note on Wednesday, November 16th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $40.67.
Aramark (NYSE:ARMK) traded down 0.26% during mid-day trading on Tuesday, hitting $33.93. The stock had a trading volume of 4,029,817 shares. Aramark has a 52 week low of $29.18 and a 52 week high of $38.30. The company has a market capitalization of $8.30 billion, a P/E ratio of 29.25 and a beta of 0.50. The stock’s 50-day moving average is $35.58 and its 200 day moving average is $36.21.
Aramark (NYSE:ARMK) last posted its quarterly earnings results on Tuesday, November 15th. The company reported $0.49 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.49. The company had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $3.67 billion. Aramark had a return on equity of 18.96% and a net margin of 2.00%. The firm’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.44 EPS. Equities analysts forecast that Aramark will post $1.90 earnings per share for the current fiscal year.
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In other Aramark news, Chairman Eric J. Foss purchased 87,566 shares of the company’s stock in a transaction dated Monday, November 21st. The stock was bought at an average cost of $34.50 per share, for a total transaction of $3,021,027.00. Following the completion of the transaction, the chairman now owns 1,514,253 shares in the company, valued at $52,241,728.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen I. Sadove purchased 7,500 shares of the company’s stock in a transaction dated Thursday, November 17th. The stock was acquired at an average price of $33.53 per share, with a total value of $251,475.00. Following the completion of the transaction, the director now owns 22,489 shares of the company’s stock, valued at approximately $754,056.17. The disclosure for this purchase can be found here. Insiders own 2.90% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Mondrian Investment Partners LTD acquired a new stake in Aramark during the second quarter worth $27,005,000. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Aramark by 2.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 615,768 shares of the company’s stock valued at $20,579,000 after buying an additional 14,708 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its position in shares of Aramark by 2.7% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 15,247 shares of the company’s stock valued at $509,000 after buying an additional 408 shares in the last quarter. Gargoyle Investment Advisor L.L.C. increased its position in shares of Aramark by 11.1% in the second quarter. Gargoyle Investment Advisor L.L.C. now owns 77,800 shares of the company’s stock valued at $2,600,000 after buying an additional 7,800 shares in the last quarter. Finally, Comgest Global Investors S.A.S. increased its position in shares of Aramark by 63.0% in the second quarter. Comgest Global Investors S.A.S. now owns 88,000 shares of the company’s stock valued at $2,941,000 after buying an additional 34,000 shares in the last quarter. Institutional investors own 94.25% of the company’s stock.
Aramark provides 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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