Aramark (ARMK) Raised to “Hold” at ValuEngine
Aramark (NYSE:ARMK) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
Several other research firms have also commented on ARMK. Sanford C. Bernstein began coverage on Aramark in a research report on Monday, September 17th. They set an “outperform” rating and a $52.00 price target on the stock. Morgan Stanley reaffirmed a “hold” rating and set a $45.00 price target (up previously from $44.00) on shares of Aramark in a research report on Thursday, September 13th. Zacks Investment Research raised Aramark from a “sell” rating to a “hold” rating in a research report on Wednesday, August 22nd. Robert W. Baird lowered Aramark from an “outperform” rating to a “neutral” rating and set a $37.00 target price on the stock. in a report on Wednesday, August 8th. Finally, Nomura boosted their target price on Aramark from $48.00 to $50.00 and gave the company a “buy” rating in a report on Friday, September 7th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Aramark currently has a consensus rating of “Buy” and an average target price of $47.30.
ARMK traded up $0.98 during trading on Wednesday, hitting $36.92. 2,520,889 shares of the stock were exchanged, compared to its average volume of 1,749,973. The firm has a market cap of $8.83 billion, a price-to-earnings ratio of 18.55, a price-to-earnings-growth ratio of 1.23 and a beta of 0.88. Aramark has a 1-year low of $33.98 and a 1-year high of $46.09. The company has a quick ratio of 1.03, a current ratio of 1.36 and a debt-to-equity ratio of 2.74.
In other news, EVP Stephen R. Reynolds sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $41.33, for a total value of $619,950.00. Following the transaction, the executive vice president now owns 47,058 shares of the company’s stock, valued at $1,944,907.14. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 3.30% of the company’s stock.
Several large investors have recently added to or reduced their stakes in ARMK. Morgan Stanley boosted its position in Aramark by 74.4% during the third quarter. Morgan Stanley now owns 848,166 shares of the company’s stock worth $36,488,000 after purchasing an additional 361,697 shares in the last quarter. Legal & General Group Plc boosted its position in Aramark by 2.1% during the third quarter. Legal & General Group Plc now owns 1,140,938 shares of the company’s stock worth $49,084,000 after purchasing an additional 23,514 shares in the last quarter. Captrust Financial Advisors boosted its position in Aramark by 236.4% during the third quarter. Captrust Financial Advisors now owns 4,413 shares of the company’s stock worth $190,000 after purchasing an additional 3,101 shares in the last quarter. Man Group plc boosted its position in Aramark by 175.7% during the third quarter. Man Group plc now owns 102,149 shares of the company’s stock worth $4,394,000 after purchasing an additional 65,100 shares in the last quarter. Finally, Veritable L.P. purchased a new stake in Aramark during the third quarter worth $294,000.
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.
See Also: Depreciation
To view ValuEngine’s full report, visit ValuEngine’s official website.
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