An issue of Aramark (NYSE:ARMK) bonds rose 1.9% as a percentage of their face value during trading on Thursday. The debt issue has a 5% coupon and will mature on February 1, 2028. The debt is now trading at $102.38. Price changes in a company’s bonds in credit markets often anticipate parallel changes in its share price.
A number of research analysts have recently issued reports on ARMK shares. BidaskClub upgraded Aramark from a “hold” rating to a “buy” rating in a research report on Wednesday, October 18th. Nomura increased their price objective on Aramark from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Tuesday, October 17th. Royal Bank of Canada reissued a “buy” rating on shares of Aramark in a research note on Thursday, October 5th. Stifel Nicolaus initiated coverage on Aramark in a research note on Tuesday, December 19th. They issued a “buy” rating and a $50.00 price objective for the company. Finally, Barclays increased their price objective on Aramark from $45.00 to $47.00 and gave the company an “equal weight” rating in a research note on Saturday, December 30th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Aramark presently has an average rating of “Buy” and an average target price of $45.86.
Aramark (NYSE:ARMK) traded up $0.04 during midday trading on Friday, reaching $44.07. The company had a trading volume of 1,331,114 shares, compared to its average volume of 1,014,513. Aramark has a 1 year low of $32.87 and a 1 year high of $44.28. The company has a current ratio of 1.12, a quick ratio of 0.86 and a debt-to-equity ratio of 2.11. The firm has a market cap of $10,813.15, a P/E ratio of 29.58, a P/E/G ratio of 1.87 and a beta of 0.47.
Aramark (NYSE:ARMK) last posted its quarterly earnings data on Tuesday, November 14th. The company reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.02. Aramark had a return on equity of 19.29% and a net margin of 2.56%. The firm had revenue of $3.65 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same period in the prior year, the company earned $0.49 EPS. The firm’s revenue was up 3.1% compared to the same quarter last year. research analysts predict that Aramark will post 1.96 EPS for the current fiscal year.
In other news, Director Sanjeev K. Mehra acquired 19,640 shares of Aramark stock in a transaction that occurred on Thursday, November 16th. The stock was purchased at an average cost of $40.75 per share, with a total value of $800,330.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.90% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of ARMK. Vanguard Group Inc. increased its position in shares of Aramark by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 19,876,655 shares of the company’s stock worth $814,546,000 after purchasing an additional 507,262 shares during the last quarter. FMR LLC increased its position in shares of Aramark by 3.3% during the 2nd quarter. FMR LLC now owns 13,215,194 shares of the company’s stock worth $541,558,000 after purchasing an additional 421,291 shares during the last quarter. BlackRock Inc. increased its position in shares of Aramark by 1.4% during the 2nd quarter. BlackRock Inc. now owns 12,627,800 shares of the company’s stock worth $517,486,000 after purchasing an additional 174,494 shares during the last quarter. Atlanta Capital Management Co. L L C increased its position in shares of Aramark by 0.5% during the 3rd quarter. Atlanta Capital Management Co. L L C now owns 9,981,130 shares of the company’s stock worth $405,334,000 after purchasing an additional 49,737 shares during the last quarter. Finally, State Street Corp increased its position in shares of Aramark by 5.3% during the 2nd quarter. State Street Corp now owns 4,684,792 shares of the company’s stock worth $191,980,000 after purchasing an additional 237,320 shares during the last quarter. 95.25% of the stock is owned by institutional investors and hedge funds.
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Aramark is a global provider of 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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