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

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

Zacks Investment Research upgraded shares of Aramark Holdings Corp. (NYSE:ARMK) from a sell rating to a hold rating in a research note released on Friday morning.

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 equities analysts have also recently weighed in on the stock. Macquarie initiated coverage on shares of Aramark Holdings Corp. in a research report on Thursday, August 25th. They set an outperform rating and a $44.00 price objective for the company. Barclays PLC increased 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 report on Thursday, August 11th. RBC Capital Markets reaffirmed a top pick rating and set a $42.00 price objective (up previously from $40.00) on shares of Aramark Holdings Corp. in a research report on Saturday, August 13th. Bank of America Corp. increased their price objective on shares of Aramark Holdings Corp. from $38.00 to $43.00 and gave the stock a buy rating in a research report on Thursday, August 11th. Finally, Royal Bank Of Canada increased their price objective on shares of Aramark Holdings Corp. from $40.00 to $42.00 and gave the stock a top pick rating in a research report on Thursday, August 11th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Buy and an average target price of $40.92.

Aramark Holdings Corp. (NYSE:ARMK) opened at 35.30 on Friday. The stock’s 50 day moving average price is $36.30 and its 200-day moving average price is $35.63. The firm has a market capitalization of $8.61 billion, a P/E ratio of 30.43 and a beta of 0.58. Aramark Holdings Corp. has a 12 month low of $29.18 and a 12 month high of $38.30.

Aramark Holdings Corp. (NYSE:ARMK) last posted its quarterly earnings results on Tuesday, November 15th. The company reported $0.49 earnings per share for the quarter, meeting the consensus estimate of $0.49. Aramark Holdings Corp. had a net margin of 2.00% and a return on equity of 18.96%. The business earned $3.54 billion during the quarter, compared to analysts’ expectations of $3.67 billion. During the same quarter in the prior year, the company posted $0.44 EPS. The business’s revenue for the quarter was up .0% on a year-over-year basis. Equities analysts forecast that Aramark Holdings Corp. will post $1.90 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 8th. Stockholders of record on Monday, November 28th will be issued a $0.103 dividend. 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. The ex-dividend date of this dividend is Wednesday, November 23rd. Aramark Holdings Corp.’s dividend payout ratio (DPR) is presently 35.35%.

In other news, Chairman Eric J. Foss acquired 87,566 shares of Aramark Holdings Corp. stock in a transaction dated Monday, November 21st. The shares were acquired at an average cost 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 legal filing with the SEC, which is accessible through the SEC website. Also, Director Stephen I. Sadove acquired 7,500 shares of Aramark Holdings Corp. stock in a transaction dated Thursday, November 17th. The stock was purchased at an average price of $33.53 per share, for a total transaction of $251,475.00. Following the completion of 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. 2.50% of the stock is currently owned by insiders.

Several large investors have recently made changes to their positions in ARMK. Dean Investment Associates LLC raised its stake in shares of Aramark Holdings Corp. by 0.9% in the third quarter. Dean Investment Associates LLC now owns 13,354 shares of the company’s stock worth $508,000 after buying an additional 122 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its stake 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 worth $175,000 after buying an additional 165 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Aramark Holdings Corp. by 5.4% in the second quarter. SG Americas Securities LLC now owns 7,493 shares of the company’s stock worth $250,000 after buying an additional 383 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its stake in shares of Aramark Holdings Corp. by 2.7% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 15,247 shares of the company’s stock worth $509,000 after buying an additional 408 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Aramark Holdings Corp. by 1.0% in the second quarter. PNC Financial Services Group Inc. now owns 48,960 shares of the company’s stock valued at $1,635,000 after buying an additional 472 shares in the last quarter. Institutional investors and hedge funds own 95.59% 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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