Aramark (NYSE:ARMK – Get Free Report) was upgraded by analysts at Citigroup from a “neutral” rating to a “buy” rating in a report released on Friday, Briefing.com reports. The firm presently has a $47.00 price target on the stock, up from their previous price target of $45.00. Citigroup’s price objective suggests a potential upside of 26.41% from the stock’s current price.
Several other research firms have also weighed in on ARMK. TheStreet upgraded shares of Aramark from a “c+” rating to a “b-” rating in a report on Friday, July 21st. StockNews.com assumed coverage on Aramark in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Sanford C. Bernstein raised Aramark from a “market perform” rating to an “outperform” rating and set a $49.00 price target on the stock in a research report on Monday, July 17th. Morgan Stanley increased their price objective on shares of Aramark from $41.00 to $44.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 9th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Aramark from $42.00 to $47.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $43.36.
View Our Latest Stock Report on ARMK
Aramark Price Performance
ARMK stock opened at $37.18 on Friday. The company has a market cap of $9.71 billion, a PE ratio of 17.96, a price-to-earnings-growth ratio of 0.70 and a beta of 1.62. The company has a current ratio of 1.30, a quick ratio of 1.09 and a debt-to-equity ratio of 2.12. The stock has a 50-day moving average price of $40.16 and a two-hundred day moving average price of $38.05. Aramark has a 12-month low of $30.72 and a 12-month high of $45.72.
Aramark (NYSE:ARMK – Get Free Report) last issued its earnings results on Tuesday, August 8th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. Aramark had a return on equity of 12.59% and a net margin of 2.97%. The business had revenue of $4.75 billion during the quarter, compared to analysts’ expectations of $4.59 billion. During the same quarter in the previous year, the business earned $0.25 EPS. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. As a group, research analysts predict that Aramark will post 1.7 EPS for the current year.
Institutional Trading of Aramark
Several institutional investors have recently added to or reduced their stakes in ARMK. Whittier Trust Co. grew its position in shares of Aramark by 59.0% during the first quarter. Whittier Trust Co. now owns 835 shares of the company’s stock worth $30,000 after acquiring an additional 310 shares during the last quarter. Covestor Ltd increased its stake in Aramark by 126.6% during the 2nd quarter. Covestor Ltd now owns 689 shares of the company’s stock valued at $30,000 after buying an additional 385 shares during the period. Fifth Third Bancorp increased its stake in shares of Aramark by 57.6% during the second quarter. Fifth Third Bancorp now owns 780 shares of the company’s stock valued at $34,000 after acquiring an additional 285 shares during the period. US Bancorp DE raised its holdings in Aramark by 21.5% during the first quarter. US Bancorp DE now owns 1,628 shares of the company’s stock worth $58,000 after purchasing an additional 288 shares in the last quarter. Finally, V Square Quantitative Management LLC bought a new position in Aramark during the 2nd quarter valued at $61,000.
About Aramark
Aramark provides food, facilities, and uniform services to education, healthcare, business and industry, sports, leisure, and corrections clients in the United States and internationally. It operates through three segments: Food and Support Services United States, Food and Support Services International, and Uniform and Career Apparel.
Further Reading
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