Aramark (ARMK) Shares Gap Down to $31.98

Aramark (NYSE:ARMK)’s share price gapped down prior to trading on Monday . The stock had previously closed at $32.65, but opened at $31.98. Aramark shares last traded at $31.41, with a volume of 5320134 shares traded.

Several equities analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Aramark from a “sell” rating to a “hold” rating in a research note on Friday, January 18th. Credit Suisse Group lowered their price objective on shares of Aramark from $53.00 to $44.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 6th. ValuEngine raised shares of Aramark from a “sell” rating to a “hold” rating in a research note on Wednesday, November 21st. Robert W. Baird lowered their price objective on shares of Aramark from $44.00 to $39.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 12th. Finally, Nomura reaffirmed a “buy” rating and issued a $46.00 price objective on shares of Aramark in a research note on Monday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. Aramark has an average rating of “Buy” and an average target price of $42.27.

The stock has a market capitalization of $7.88 billion, a price-to-earnings ratio of 15.78, a P/E/G ratio of 1.49 and a beta of 1.20. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.04 and a current ratio of 1.21.

Aramark (NYSE:ARMK) last released its earnings results on Tuesday, February 5th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.08. The business had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $4.19 billion. Aramark had a net margin of 3.27% and a return on equity of 17.81%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the firm posted $0.59 earnings per share. Sell-side analysts anticipate that Aramark will post 2.12 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 28th. Stockholders of record on Thursday, February 14th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Wednesday, February 13th. Aramark’s dividend payout ratio (DPR) is currently 22.11%.

In other news, Director Stephen I. Sadove bought 6,000 shares of the company’s stock in a transaction dated Thursday, December 13th. The shares were acquired at an average cost of $32.72 per share, with a total value of $196,320.00. Following the completion of the transaction, the director now directly owns 37,314 shares in the company, valued at approximately $1,220,914.08. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eric J. Foss bought 92,564 shares of the company’s stock in a transaction dated Wednesday, December 12th. The stock was purchased at an average cost of $32.46 per share, for a total transaction of $3,004,627.44. Following the completion of the transaction, the chief executive officer now owns 1,679,407 shares of the company’s stock, valued at $54,513,551.22. The disclosure for this purchase can be found here. Company insiders own 3.50% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. First Hawaiian Bank boosted its holdings in shares of Aramark by 48.3% during the fourth quarter. First Hawaiian Bank now owns 1,366 shares of the company’s stock worth $40,000 after purchasing an additional 445 shares during the period. Pearl River Capital LLC acquired a new stake in shares of Aramark during the fourth quarter worth approximately $72,000. IFP Advisors Inc boosted its holdings in shares of Aramark by 985.5% during the third quarter. IFP Advisors Inc now owns 2,399 shares of the company’s stock worth $103,000 after purchasing an additional 2,178 shares during the period. Captrust Financial Advisors boosted its holdings in shares of Aramark by 236.4% during the third quarter. Captrust Financial Advisors now owns 4,413 shares of the company’s stock worth $190,000 after purchasing an additional 3,101 shares during the period. Finally, Asset Management Group Inc. acquired a new stake in shares of Aramark during the third quarter worth approximately $201,000. Institutional investors and hedge funds own 99.97% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This article was first published by Chaffey Breeze and is owned by of Chaffey Breeze. If you are accessing this article on another domain, it was illegally stolen and reposted in violation of international copyright law. The original version of this article can be read at https://www.chaffeybreeze.com/2019/02/11/aramark-armk-shares-gap-down-to-31-98.html.

About Aramark (NYSE:ARMK)

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.

Featured Article: Why are analyst ratings important in trading stocks?

Receive News & Ratings for Aramark Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aramark and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply