Aramark (NYSE:ARMK) Rating Lowered to Hold at StockNews.com

Aramark (NYSE:ARMK) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

A number of other analysts have also issued reports on ARMK. Morgan Stanley lifted their price target on shares of Aramark from $40.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Royal Bank of Canada raised shares of Aramark from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $36.00 to $42.50 in a research report on Tuesday, September 17th. The Goldman Sachs Group upped their target price on shares of Aramark from $38.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price target on Aramark from $41.00 to $45.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Finally, Truist Financial upped their price objective on Aramark from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Aramark presently has an average rating of “Moderate Buy” and a consensus price target of $42.59.

Aramark Stock Performance

Shares of ARMK stock opened at $36.83 on Tuesday. The company’s fifty day moving average price is $38.91 and its two-hundred day moving average price is $36.96. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.81 and a quick ratio of 0.72. The firm has a market capitalization of $9.76 billion, a P/E ratio of 37.20 and a beta of 1.64. Aramark has a 12 month low of $28.30 and a 12 month high of $42.49.

Aramark (NYSE:ARMK) last released its quarterly earnings results on Monday, November 11th. The company reported $0.54 EPS for the quarter, hitting the consensus estimate of $0.54. Aramark had a return on equity of 14.06% and a net margin of 1.51%. The business had revenue of $4.42 billion for the quarter, compared to analysts’ expectations of $4.46 billion. During the same quarter in the previous year, the firm posted $0.64 earnings per share. The company’s revenue was up 5.2% compared to the same quarter last year. On average, research analysts anticipate that Aramark will post 1.92 earnings per share for the current fiscal year.

Institutional Trading of Aramark

Several institutional investors have recently modified their holdings of ARMK. Y Intercept Hong Kong Ltd bought a new stake in Aramark in the third quarter worth about $716,000. Franklin Resources Inc. grew its stake in shares of Aramark by 7.2% in the 3rd quarter. Franklin Resources Inc. now owns 6,570,938 shares of the company’s stock worth $254,427,000 after purchasing an additional 441,711 shares during the last quarter. Geode Capital Management LLC lifted its stake in Aramark by 1.1% during the third quarter. Geode Capital Management LLC now owns 4,363,113 shares of the company’s stock valued at $169,028,000 after purchasing an additional 45,384 shares during the last quarter. Blue Trust Inc. boosted its holdings in Aramark by 173.9% during the third quarter. Blue Trust Inc. now owns 5,697 shares of the company’s stock worth $221,000 after buying an additional 3,617 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Aramark by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,732,661 shares of the company’s stock worth $67,106,000 after buying an additional 14,839 shares during the last quarter.

About Aramark

Aramark provides food and facilities services to education, healthcare, business and industry, sports, leisure, and corrections clients in the United States and internationally. It operates through two segments, Food and Support Services United States, and Food and Support Services International. The company offers food-related managed services, including dining, catering, food service management, and convenience-oriented retail services; non-clinical food and food-related support services, such as patient food and nutrition, retail food, environmental services, and procurement services; and plant operations and maintenance, custodial/housekeeping, energy management, grounds keeping, and capital project management services.