Zacks Investment Research upgraded shares of Aramark (NYSE:ARMK) from a sell rating to a hold rating in a research note published on Wednesday morning.
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. “
Other equities analysts have also recently issued research reports about the company. Royal Bank of Canada reiterated a buy rating and issued a $50.00 target price on shares of Aramark in a report on Wednesday, February 7th. TheStreet cut Aramark from a b rating to a c+ rating in a report on Tuesday, May 8th. Morgan Stanley lifted their target price on Aramark from $41.00 to $42.00 and gave the stock an equal weight rating in a report on Wednesday, January 31st. Finally, Credit Suisse Group restated an outperform rating and set a $50.00 price objective on shares of Aramark in a report on Wednesday, January 24th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of Buy and an average price target of $47.33.
NYSE:ARMK opened at $38.14 on Wednesday. The company has a debt-to-equity ratio of 2.77, a quick ratio of 0.98 and a current ratio of 1.30. Aramark has a 1 year low of $37.91 and a 1 year high of $38.29. The company has a market capitalization of $9.39 billion, a price-to-earnings ratio of 20.85, a PEG ratio of 1.58 and a beta of 0.65.
Aramark (NYSE:ARMK) last released its quarterly earnings data on Tuesday, May 8th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.02. The business had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.91 billion. Aramark had a return on equity of 17.96% and a net margin of 3.29%. The company’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 EPS. equities analysts expect that Aramark will post 2.01 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 31st. Investors of record on Thursday, May 17th will be issued a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date is Wednesday, May 16th. Aramark’s payout ratio is currently 23.73%.
Several hedge funds have recently modified their holdings of ARMK. USS Investment Management Ltd bought a new position in shares of Aramark in the 4th quarter worth $6,876,000. State of Alaska Department of Revenue increased its position in Aramark by 93.3% during the 4th quarter. State of Alaska Department of Revenue now owns 35,971 shares of the company’s stock valued at $1,535,000 after buying an additional 17,360 shares in the last quarter. First Manhattan Co. increased its position in Aramark by 7.4% during the 4th quarter. First Manhattan Co. now owns 5,187,057 shares of the company’s stock valued at $221,694,000 after buying an additional 355,984 shares in the last quarter. Mountain Pacific Investment Advisers Inc. ID increased its position in Aramark by 1.7% during the 4th quarter. Mountain Pacific Investment Advisers Inc. ID now owns 475,272 shares of the company’s stock valued at $20,313,000 after buying an additional 7,907 shares in the last quarter. Finally, First Quadrant L P CA acquired a new position in Aramark during the 4th quarter valued at about $5,899,000. Institutional investors and hedge funds own 93.35% of the company’s stock.
Aramark provides food, facilities, and uniform services to education, healthcare, business and industry, sports, leisure, and corrections clients in North America and internationally. The company operates through three segments: Food and Support Services North America, Food and Support Services International, Uniform and Career Apparel.
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