Aramark (ARMK) Given Buy Rating at Royal Bank of Canada

Aramark (NYSE:ARMK)‘s stock had its “buy” rating reissued by investment analysts at Royal Bank of Canada in a research note issued to investors on Friday. They currently have a $51.00 price target on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 12.38% from the stock’s current price.

A number of other research analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of Aramark from a “sell” rating to a “hold” rating in a research report on Wednesday, November 22nd. Barclays upped their target price on shares of Aramark from $45.00 to $47.00 and gave the company an “equal weight” rating in a research report on Friday, December 22nd. Stifel Nicolaus started coverage on shares of Aramark in a research report on Tuesday, December 19th. They set a “buy” rating and a $50.00 target price on the stock. Nomura cut their target price on shares of Aramark from $47.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, November 15th. Finally, BidaskClub upgraded shares of Aramark from a “hold” rating to a “buy” rating in a research report on Wednesday, October 18th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Aramark presently has an average rating of “Buy” and a consensus price target of $46.43.

Shares of Aramark (ARMK) opened at $45.38 on Friday. Aramark has a fifty-two week low of $32.87 and a fifty-two week high of $45.45. 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 company has a market cap of $11,120.00, a PE ratio of 30.66, a price-to-earnings-growth ratio of 1.89 and a beta of 0.47.

Aramark (NYSE:ARMK) last issued its quarterly earnings data on Tuesday, November 14th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. Aramark had a net margin of 2.56% and a return on equity of 19.29%. The firm had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same quarter in the prior year, the firm earned $0.49 EPS. The company’s revenue was up 3.1% on a year-over-year basis. equities analysts forecast that Aramark will post 1.96 earnings per share for the current year.

In other Aramark news, Director Sanjeev K. Mehra bought 19,640 shares of the business’s stock in a transaction on Thursday, November 16th. The shares were bought at an average cost of $40.75 per share, for a total transaction of $800,330.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.90% of the company’s stock.

Several large investors have recently made changes to their positions in ARMK. Alliancebernstein L.P. raised its position in shares of Aramark by 1.1% in the 2nd quarter. Alliancebernstein L.P. now owns 163,212 shares of the company’s stock valued at $6,688,000 after acquiring an additional 1,740 shares during the period. BlackRock Inc. raised its position in shares of Aramark by 1.4% in the 2nd quarter. BlackRock Inc. now owns 12,627,800 shares of the company’s stock valued at $517,486,000 after acquiring an additional 174,494 shares during the period. Profund Advisors LLC acquired a new stake in shares of Aramark in the 2nd quarter valued at approximately $219,000. PNC Financial Services Group Inc. raised its position in shares of Aramark by 2.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 39,954 shares of the company’s stock valued at $1,638,000 after acquiring an additional 998 shares during the period. Finally, Quantitative Investment Management LLC acquired a new stake in shares of Aramark in the 2nd quarter valued at approximately $1,487,000. Institutional investors and hedge funds own 95.40% of the company’s stock.

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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).

Analyst Recommendations for Aramark (NYSE:ARMK)

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