Morgan Stanley Increases Aramark (ARMK) Price Target to $40.00

Aramark (NYSE:ARMK) had its target price increased by investment analysts at Morgan Stanley from $39.00 to $40.00 in a research note issued to investors on Thursday. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price target suggests a potential upside of 1.65% from the stock’s current price.

Several other equities research analysts have also issued reports on the stock. BidaskClub upgraded shares of Aramark from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 28th. Barclays PLC lifted their price target on shares of Aramark from $37.00 to $39.00 and gave the company an “equal weight” rating in a research note on Friday, June 23rd. Nomura reiterated a “buy” rating and issued a $45.00 price target (up from $43.00) on shares of Aramark in a research note on Wednesday. Zacks Investment Research lowered shares of Aramark from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Finally, Deutsche Bank AG lifted their price target on shares of Aramark from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, May 10th. One analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Aramark has a consensus rating of “Buy” and a consensus price target of $43.00.

Shares of Aramark (NYSE:ARMK) opened at 39.35 on Thursday. The company has a 50-day moving average of $40.33 and a 200-day moving average of $37.63. The company has a market capitalization of $9.64 billion, a PE ratio of 28.51 and a beta of 0.48. Aramark has a one year low of $32.73 and a one year high of $41.72.

Aramark (NYSE:ARMK) last issued its quarterly earnings data on Tuesday, August 8th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. Aramark had a net margin of 2.37% and a return on equity of 19.29%. The business had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.61 billion. During the same period last year, the business posted $0.34 earnings per share. The firm’s quarterly revenue was up .2% on a year-over-year basis. On average, analysts anticipate that Aramark will post $1.96 earnings per share for the current year.

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In other news, VP James J. Tarangelo sold 3,000 shares of the business’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $37.15, for a total transaction of $111,450.00. Following the transaction, the vice president now directly owns 2,871 shares in the company, valued at approximately $106,657.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Brian P. Pressler sold 10,629 shares of the business’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $40.80, for a total transaction of $433,663.20. Following the transaction, the senior vice president now owns 14,285 shares in the company, valued at $582,828. The disclosure for this sale can be found here. Insiders sold a total of 143,629 shares of company stock worth $5,618,413 over the last quarter. Company insiders own 2.90% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARMK. Israel Discount Bank of New York purchased a new position in Aramark during the first quarter valued at $103,000. FNY Managed Accounts LLC purchased a new position in Aramark during the first quarter valued at $110,000. Simplex Trading LLC purchased a new position in Aramark during the second quarter valued at $127,000. Acrospire Investment Management LLC raised its position in Aramark by 98.5% in the second quarter. Acrospire Investment Management LLC now owns 3,628 shares of the company’s stock valued at $149,000 after buying an additional 1,800 shares in the last quarter. Finally, Pacer Advisors Inc. raised its position in Aramark by 3.3% in the first quarter. Pacer Advisors Inc. now owns 4,497 shares of the company’s stock valued at $166,000 after buying an additional 143 shares in the last quarter. Institutional investors own 95.94% of the company’s stock.

Aramark Company Profile

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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