Aramark (NYSE:ARMK) Raised to “Buy” at Nomura
Nomura upgraded shares of Aramark (NYSE:ARMK) from a neutral rating to a buy rating in a research report report published on Monday, BenzingaRatingsTable reports. The brokerage currently has $50.00 price objective on the stock, up from their previous price objective of $28.00.
Other analysts have also issued research reports about the stock. Stifel Nicolaus raised shares of Aramark from a hold rating to a buy rating and upped their target price for the stock from $36.00 to $49.00 in a report on Monday. TheStreet raised shares of Aramark from a c+ rating to a b- rating in a report on Friday, July 5th. Morgan Stanley set a $34.00 target price on shares of Aramark and gave the stock a hold rating in a report on Wednesday, May 8th. ValuEngine raised shares of Aramark from a sell rating to a hold rating in a report on Thursday, May 30th. Finally, Robert W. Baird lowered shares of Aramark from an outperform rating to a neutral rating and upped their target price for the stock from $38.00 to $40.00 in a report on Wednesday, August 7th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $42.67.
Aramark stock opened at $39.67 on Monday. The firm’s 50 day simple moving average is $36.70 and its 200 day simple moving average is $33.11. The company has a current ratio of 1.22, a quick ratio of 1.04 and a debt-to-equity ratio of 2.19. The firm has a market capitalization of $9.16 billion, a PE ratio of 19.93, a price-to-earnings-growth ratio of 2.12 and a beta of 0.91. Aramark has a 1-year low of $25.49 and a 1-year high of $43.70.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Wednesday, August 14th. Aramark’s payout ratio is 22.11%.
In other news, insider Keith Bethel sold 7,500 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $37.40, for a total value of $280,500.00. Following the transaction, the insider now owns 43,692 shares of the company’s stock, valued at approximately $1,634,080.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.50% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the company. Putnam FL Investment Management Co. boosted its stake in shares of Aramark by 1.4% in the 2nd quarter. Putnam FL Investment Management Co. now owns 20,830 shares of the company’s stock valued at $751,000 after purchasing an additional 282 shares in the last quarter. Squar Milner Financial Services LLC boosted its position in Aramark by 8.4% during the 2nd quarter. Squar Milner Financial Services LLC now owns 3,712 shares of the company’s stock valued at $134,000 after buying an additional 288 shares during the period. CIBC Asset Management Inc boosted its position in Aramark by 3.0% during the 1st quarter. CIBC Asset Management Inc now owns 12,169 shares of the company’s stock valued at $360,000 after buying an additional 349 shares during the period. Spears Abacus Advisors LLC boosted its position in Aramark by 2.2% during the 2nd quarter. Spears Abacus Advisors LLC now owns 28,460 shares of the company’s stock valued at $1,026,000 after buying an additional 600 shares during the period. Finally, Sage Rhino Capital LLC boosted its position in Aramark by 4.1% during the 2nd quarter. Sage Rhino Capital LLC now owns 15,649 shares of the company’s stock valued at $564,000 after buying an additional 612 shares during the period. 93.82% of the stock is owned by institutional investors.
Aramark Company Profile
Aramark provides food, facilities management, and uniform services to education, healthcare, business and industry, sports, leisure, and corrections clients in North America and internationally. It operates in three segments: Food and Support Services United States, Food and Support Services International, and Uniform and Career Apparel.
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