Aramark (ARMK) PT Lowered to $48.00

Aramark (NYSE:ARMK) had its price target cut by investment analysts at JPMorgan Chase & Co. from $53.00 to $48.00 in a research note issued on Wednesday. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s price objective would indicate a potential upside of 29.91% from the company’s previous close.

A number of other brokerages have also recently weighed in on ARMK. Morgan Stanley reissued a “hold” rating and issued a $45.00 price target (up from $44.00) on shares of Aramark in a research report on Thursday, September 13th. Bank of America started coverage on shares of Aramark in a research report on Tuesday, October 23rd. They issued a “buy” rating and a $49.00 price target for the company. Sanford C. Bernstein started coverage on shares of Aramark in a research report on Monday, September 17th. They issued an “outperform” rating and a $52.00 price target for the company. Nomura boosted their price target on shares of Aramark from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, September 7th. Finally, Zacks Investment Research raised shares of Aramark from a “sell” rating to a “hold” rating in a research report on Wednesday, August 22nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company’s stock. Aramark has an average rating of “Buy” and a consensus price target of $47.90.

Shares of ARMK stock traded up $0.21 on Wednesday, reaching $36.95. 61,143 shares of the stock were exchanged, compared to its average volume of 3,060,370. The company has a current ratio of 1.36, a quick ratio of 1.03 and a debt-to-equity ratio of 2.74. The company has a market cap of $8.74 billion, a P/E ratio of 18.53, a PEG ratio of 1.19 and a beta of 0.88. Aramark has a twelve month low of $33.98 and a twelve month high of $46.09.

Aramark (NYSE:ARMK) last issued its earnings results on Tuesday, November 13th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.03. The firm had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.96 billion. Aramark had a net margin of 3.60% and a return on equity of 18.15%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.54 earnings per share. On average, equities analysts forecast that Aramark will post 2.37 EPS for the current year.

In other news, EVP Stephen R. Reynolds sold 15,000 shares of the company’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $41.33, for a total value of $619,950.00. Following the completion of the sale, the executive vice president now directly owns 47,058 shares of the company’s stock, valued at $1,944,907.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.90% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in ARMK. IFP Advisors Inc raised its holdings in shares of Aramark by 985.5% in the third quarter. IFP Advisors Inc now owns 2,399 shares of the company’s stock valued at $103,000 after buying an additional 2,178 shares during the last quarter. Squar Milner Financial Services LLC purchased a new stake in shares of Aramark in the second quarter valued at about $105,000. FNY Investment Advisers LLC purchased a new stake in shares of Aramark in the second quarter valued at about $148,000. Point72 Hong Kong Ltd purchased a new stake in shares of Aramark in the second quarter valued at about $161,000. Finally, Captrust Financial Advisors raised its holdings in shares of Aramark by 236.4% in the third quarter. Captrust Financial Advisors now owns 4,413 shares of the company’s stock valued at $190,000 after buying an additional 3,101 shares during the last quarter. 97.58% of the stock is owned by institutional investors and hedge funds.

Aramark Company Profile

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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Analyst Recommendations for Aramark (NYSE:ARMK)

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