Aramark (ARMK) Earns “Buy” Rating from Royal Bank of Canada
Aramark (NYSE:ARMK)‘s stock had its “buy” rating reiterated by research analysts at Royal Bank of Canada in a note issued to investors on Friday. They presently have a $51.00 price objective on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 14.53% from the company’s current price.
Several other equities analysts have also issued reports on the company. Zacks Investment Research raised Aramark from a “sell” rating to a “hold” rating in a research note on Wednesday, November 22nd. Barclays upped their price target on Aramark from $45.00 to $47.00 and gave the company an “equal weight” rating in a research note on Friday, December 22nd. Stifel Nicolaus initiated coverage on Aramark in a research note on Tuesday, December 19th. They set a “buy” rating and a $50.00 price target on the stock. Nomura cut their price target on Aramark from $47.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, November 15th. Finally, BidaskClub raised Aramark from a “hold” rating to a “buy” rating in a research note on Wednesday, October 18th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $46.43.
Shares of Aramark (ARMK) traded down $0.09 on Friday, hitting $44.53. The stock had a trading volume of 1,116,500 shares, compared to its average volume of 1,202,292. The company has a quick ratio of 0.86, a current ratio of 1.12 and a debt-to-equity ratio of 2.11. Aramark has a twelve month low of $32.87 and a twelve month high of $44.80. The firm has a market capitalization of $10,958.04, a price-to-earnings ratio of 29.89, a PEG ratio of 1.89 and a beta of 0.47.
In related news, Director Sanjeev K. Mehra bought 19,640 shares of the business’s stock in a transaction on Thursday, November 16th. The shares were purchased at an average price of $40.75 per share, with a total value of $800,330.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate 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. Alliancebernstein L.P. raised its position in shares of Aramark by 1.1% during the second quarter. Alliancebernstein L.P. now owns 163,212 shares of the company’s stock worth $6,688,000 after purchasing an additional 1,740 shares during the period. BlackRock Inc. raised its position in shares of Aramark by 1.4% during the second quarter. BlackRock Inc. now owns 12,627,800 shares of the company’s stock worth $517,486,000 after purchasing an additional 174,494 shares during the period. Profund Advisors LLC acquired a new stake in shares of Aramark during the second quarter worth about $219,000. PNC Financial Services Group Inc. raised its position in shares of Aramark by 2.6% during the second quarter. PNC Financial Services Group Inc. now owns 39,954 shares of the company’s stock worth $1,638,000 after purchasing an additional 998 shares during the period. Finally, Quantitative Investment Management LLC acquired a new stake in shares of Aramark during the second quarter worth about $1,487,000. 95.40% of the stock is currently owned by institutional investors.
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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