Todays Report: The Aramark Holdings Corp. (ARMK) Upgraded to Buy at Zacks Investment Research

The Aramark Holdings Corp. (ARMK) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Aramark Holdings Corp. (NYSE:ARMK) from a hold rating to a buy rating in a research report released on Tuesday morning. The brokerage currently has $43.00 price objective on the stock.

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. Royal Bank Of Canada increased their price target on shares of Aramark Holdings Corp. from $40.00 to $42.00 and gave the company a top pick rating in a report on Thursday, August 11th. JPMorgan Chase & Co. increased their price target on shares of Aramark Holdings Corp. from $37.00 to $44.00 and gave the company an overweight rating in a report on Thursday, August 11th. Macquarie started coverage on shares of Aramark Holdings Corp. in a report on Thursday, August 25th. They issued an outperform rating and a $44.00 price target for the company. Nomura increased their price target on shares of Aramark Holdings Corp. from $40.00 to $42.00 and gave the company a buy rating in a report on Thursday, August 11th. Finally, Barclays PLC increased their price target on shares of Aramark Holdings Corp. from $37.00 to $40.00 and gave the company an overweight rating in a report on Thursday, August 11th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $41.08.

Shares of Aramark Holdings Corp. (NYSE:ARMK) traded down 0.4524% during midday trading on Tuesday, hitting $37.3901. 314,731 shares of the company were exchanged. The stock has a market cap of $9.12 billion, a PE ratio of 35.6096 and a beta of 0.57. Aramark Holdings Corp. has a one year low of $29.18 and a one year high of $38.30. The stock’s 50-day moving average is $37.57 and its 200-day moving average is $34.88.

Aramark Holdings Corp. (NYSE:ARMK) last posted its quarterly earnings data on Wednesday, August 10th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.02. The business earned $3.59 billion during the quarter, compared to the consensus estimate of $3.58 billion. Aramark Holdings Corp. had a net margin of 1.81% and a return on equity of 18.92%. Aramark Holdings Corp.’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.29 EPS. Equities research analysts anticipate that Aramark Holdings Corp. will post $1.71 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Tuesday, August 16th were given a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend was Friday, August 12th. Aramark Holdings Corp.’s dividend payout ratio (DPR) is currently 35.85%.

In other Aramark Holdings Corp. news, EVP Stephen R. Reynolds sold 56,709 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $36.97, for a total value of $2,096,531.73. Following the completion of the sale, the executive vice president now owns 171,175 shares in the company, valued at approximately $6,328,339.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.50% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. OLD Mutual Customised Solutions Proprietary Ltd. bought a new stake in Aramark Holdings Corp. during the second quarter valued at $107,000. MU Investments Co. Ltd. bought a new stake in Aramark Holdings Corp. during the second quarter valued at $148,000. Mn Services Vermogensbeheer B.V. boosted its stake in 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 last quarter. Daiwa Securities Group Inc. boosted its stake in 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 last quarter. Finally, Strs Ohio boosted its stake in Aramark Holdings Corp. by 26.5% in the second quarter. Strs Ohio now owns 5,459 shares of the company’s stock valued at $182,000 after buying an additional 1,142 shares during the last quarter. Hedge funds and other institutional investors own 94.26% of the company’s stock.

Aramark Holdings Corp. Company Profile

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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