Aramark Holdings Corp. (NYSE:ARMK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
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. “
A number of other brokerages also recently issued reports on ARMK. RBC Capital Markets reissued a “top pick” rating and issued a $42.00 price target (up from $40.00) on shares of Aramark Holdings Corp. in a report on Saturday, August 13th. Macquarie assumed coverage on Aramark Holdings Corp. in a research note on Thursday, August 25th. They set an “outperform” rating and a $44.00 target price for the company. Nomura upped their target price on Aramark Holdings Corp. from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, August 11th. Bank of America Corp. upped their target price on Aramark Holdings Corp. from $38.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, August 11th. Finally, Royal Bank Of Canada upped their target price on Aramark Holdings Corp. from $40.00 to $42.00 and gave the stock a “top pick” rating in a research note on Thursday, August 11th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $41.08.
Shares of Aramark Holdings Corp. (NYSE:ARMK) opened at 37.10 on Tuesday. Aramark Holdings Corp. has a one year low of $29.18 and a one year high of $38.30. The stock has a market capitalization of $9.05 billion, a price-to-earnings ratio of 35.33 and a beta of 0.57. The firm’s 50-day moving average is $37.52 and its 200-day moving average is $35.03.
Aramark Holdings Corp. (NYSE:ARMK) last announced its quarterly earnings results on Wednesday, August 10th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.02. Aramark Holdings Corp. had a return on equity of 18.92% and a net margin of 1.81%. The company earned $3.59 billion during the quarter, compared to the consensus estimate of $3.58 billion. During the same period in the previous year, the company posted $0.29 earnings per share. Aramark Holdings Corp.’s revenue for the quarter was up 3.0% on a year-over-year basis. Equities research analysts forecast that Aramark Holdings Corp. will post $1.71 EPS for the current year.
In related news, EVP Stephen R. Reynolds sold 56,709 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $36.97, for a total transaction of $2,096,531.73. Following the completion of the sale, the executive vice president now directly owns 171,175 shares in the company, valued at $6,328,339.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.50% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Ngam Advisors L.P. bought a new stake in shares of Aramark Holdings Corp. during the first quarter valued at about $676,000. Prudential Financial Inc. bought a new stake in shares of Aramark Holdings Corp. during the first quarter valued at about $443,000. BlackRock Inc. boosted its stake in shares of Aramark Holdings Corp. by 18.8% in the first quarter. BlackRock Inc. now owns 181,091 shares of the company’s stock valued at $5,998,000 after buying an additional 28,622 shares during the last quarter. BlackRock Group LTD boosted its stake in shares of Aramark Holdings Corp. by 3.9% in the first quarter. BlackRock Group LTD now owns 1,145,014 shares of the company’s stock valued at $37,922,000 after buying an additional 42,561 shares during the last quarter. Finally, BlackRock Japan Co. Ltd boosted its stake in shares of Aramark Holdings Corp. by 3.7% in the first quarter. BlackRock Japan Co. Ltd now owns 282,907 shares of the company’s stock valued at $9,370,000 after buying an additional 10,215 shares during the last quarter. Hedge funds and other institutional investors own 94.26% of the company’s stock.
About Aramark Holdings Corp.
Aramark provides 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).