Aramark (ARMK) Stock Rating Upgraded by Zacks Investment Research

Aramark (NYSE:ARMK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

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. “

ARMK has been the subject of several other reports. Morgan Stanley upped their price objective on shares of Aramark from $41.00 to $42.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 31st. Credit Suisse Group restated an “outperform” rating and issued a $50.00 price objective on shares of Aramark in a report on Wednesday, January 24th. Royal Bank of Canada restated a “buy” rating and issued a $51.00 price objective on shares of Aramark in a report on Friday, January 19th. Finally, TheStreet lowered shares of Aramark from a “b” rating to a “c+” rating in a report on Tuesday, May 8th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $47.33.

Shares of ARMK opened at $38.20 on Wednesday. The firm has a market cap of $9.39 billion, a price-to-earnings ratio of 21.58, a PEG ratio of 1.58 and a beta of 0.65. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.30 and a quick ratio of 0.98. Aramark has a twelve month low of $37.91 and a twelve month high of $38.29.

Aramark (NYSE:ARMK) last announced its quarterly earnings results on Tuesday, May 8th. The company reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.02. The business had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $3.91 billion. Aramark had a net margin of 3.29% and a return on equity of 17.96%. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.45 EPS. equities research analysts forecast that Aramark will post 2.01 EPS for the current fiscal year.

Several institutional investors have recently modified their holdings of ARMK. USS Investment Management Ltd bought a new position in shares of Aramark in the 4th quarter worth about $6,876,000. State of Alaska Department of Revenue increased its stake in shares of Aramark by 93.3% in the 4th quarter. State of Alaska Department of Revenue now owns 35,971 shares of the company’s stock worth $1,535,000 after acquiring an additional 17,360 shares in the last quarter. First Manhattan Co. increased its stake in shares of Aramark by 7.4% in the 4th quarter. First Manhattan Co. now owns 5,187,057 shares of the company’s stock worth $221,694,000 after acquiring an additional 355,984 shares in the last quarter. Mountain Pacific Investment Advisers Inc. ID increased its stake in shares of Aramark by 1.7% in the 4th quarter. Mountain Pacific Investment Advisers Inc. ID now owns 475,272 shares of the company’s stock worth $20,313,000 after acquiring an additional 7,907 shares in the last quarter. Finally, First Quadrant L P CA bought a new position in shares of Aramark in the 4th quarter worth about $5,899,000. Institutional investors own 93.35% of the company’s stock.

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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