Today, Aramark Holdings Corp. (ARMK) Upgrade by The Zacks Investment Research to Hold

Today, Aramark Holdings Corp. (ARMK) Upgrade by The Zacks Investment Research to Hold
Aramark Holdings Corp. (NYSE:ARMK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday.

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 a number of other reports. Bank of America Corp. raised their target price on shares of Aramark Holdings Corp. from $38.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, August 11th. RBC Capital Markets restated a “top pick” rating and set a $42.00 target price (up from $40.00) on shares of Aramark Holdings Corp. in a report on Saturday, August 13th. Morgan Stanley set a $41.00 price objective on shares of Aramark Holdings Corp. and gave the stock a “hold” rating in a research note on Thursday, August 11th. Barclays PLC raised their price objective on shares of Aramark Holdings Corp. from $37.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, August 11th. Finally, Nomura raised their price objective on shares of Aramark Holdings Corp. from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, August 11th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $40.92.

Aramark Holdings Corp. (NYSE:ARMK) traded up 0.40% during mid-day trading on Friday, hitting $35.30. The stock had a trading volume of 620,888 shares. Aramark Holdings Corp. has a one year low of $29.18 and a one year high of $38.30. The stock has a market cap of $8.61 billion, a PE ratio of 30.43 and a beta of 0.58. The firm’s 50-day moving average is $36.35 and its 200 day moving average is $35.62.

Aramark Holdings Corp. (NYSE:ARMK) last issued its earnings results on Tuesday, November 15th. The company reported $0.49 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.49. The firm earned $3.54 billion during the quarter, compared to analysts’ expectations of $3.67 billion. Aramark Holdings Corp. had a net margin of 2.00% and a return on equity of 19.25%. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period last year, the firm posted $0.44 earnings per share. Equities research analysts expect that Aramark Holdings Corp. will post $1.90 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 8th. Shareholders of record on Monday, November 28th will be paid a dividend of $0.103 per share. The ex-dividend date is Wednesday, November 23rd. This represents a $0.41 dividend on an annualized basis and a dividend yield of 1.17%. This is a positive change from Aramark Holdings Corp.’s previous quarterly dividend of $0.10. Aramark Holdings Corp.’s dividend payout ratio (DPR) is 32.76%.

In other Aramark Holdings Corp. news, Chairman Eric J. Foss purchased 87,566 shares of the business’s stock in a transaction dated Monday, November 21st. The shares were acquired at an average price of $34.50 per share, for a total transaction of $3,021,027.00. Following the acquisition, the chairman now owns 1,514,253 shares of the company’s stock, valued at $52,241,728.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen I. Sadove purchased 7,500 shares of the business’s stock in a transaction dated Thursday, November 17th. The shares were acquired at an average price of $33.53 per share, for a total transaction of $251,475.00. Following the acquisition, the director now directly owns 22,489 shares in the company, valued at approximately $754,056.17. The disclosure for this purchase can be found here. Company insiders own 2.50% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new position in Aramark Holdings Corp. during the second quarter worth $107,000. Fuller & Thaler Asset Management Inc. increased its position in shares of Aramark Holdings Corp. by 61.1% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 2,900 shares of the company’s stock valued at $110,000 after buying an additional 1,100 shares during the period. MU Investments Co. Ltd. purchased a new position in shares of Aramark Holdings Corp. during the second quarter valued at approximately $148,000. Mn Services Vermogensbeheer B.V. increased its position in shares of Aramark Holdings Corp. by 2.9% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 5,806 shares of the company’s stock valued at $175,000 after buying an additional 165 shares during the period. Finally, Daiwa Securities Group Inc. increased its position in shares of Aramark Holdings Corp. by 11.5% in the second quarter. Daiwa Securities Group Inc. now owns 5,350 shares of the company’s stock valued at $179,000 after buying an additional 550 shares during the period. Institutional investors and hedge funds own 97.51% 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).

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