Aramark (NYSE:ARMK) Coverage Initiated by Analysts at Oppenheimer

Oppenheimer began coverage on shares of Aramark (NYSE:ARMK) in a research note released on Thursday, The Fly reports. The firm issued an outperform rating and a $50.00 target price on the stock.

A number of other equities analysts have also recently weighed in on the company. Zacks Investment Research upgraded Aramark from a sell rating to a hold rating in a report on Tuesday, July 16th. TheStreet upgraded Aramark from a c+ rating to a b- rating in a report on Friday, July 5th. Robert W. Baird upped their price target on Aramark from $40.00 to $44.00 and gave the stock a neutral rating in a report on Monday. Nomura upgraded Aramark from a neutral rating to a buy rating and upped their price target for the stock from $28.00 to $50.00 in a report on Monday. Finally, ValuEngine upgraded Aramark from a sell rating to a hold rating in a report on Thursday, May 30th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $43.23.

NYSE ARMK traded up $0.21 on Thursday, reaching $40.17. The company had a trading volume of 20,027 shares, compared to its average volume of 5,071,087. The firm has a market capitalization of $9.72 billion, a PE ratio of 20.23, a P/E/G ratio of 2.25 and a beta of 0.91. Aramark has a 1 year low of $25.49 and a 1 year high of $43.70. The firm has a 50-day moving average of $36.77 and a 200-day moving average of $33.14. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.22 and a quick ratio of 1.04.

Aramark (NYSE:ARMK) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.08. The firm had revenue of $4.01 billion during the quarter, compared to analysts’ expectations of $3.99 billion. Aramark had a return on equity of 17.39% and a net margin of 3.33%. Aramark’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.48 EPS. As a group, sell-side analysts expect that Aramark will post 2.03 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Wednesday, August 14th. Aramark’s dividend payout ratio (DPR) is currently 22.11%.

In other news, insider Keith Bethel sold 7,500 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $37.40, for a total transaction of $280,500.00. Following the completion of the transaction, the insider now directly owns 43,692 shares in the company, valued at approximately $1,634,080.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 3.30% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Thompson Siegel & Walmsley LLC raised its position in shares of Aramark by 9,798.2% during the 1st quarter. Thompson Siegel & Walmsley LLC now owns 3,533,675 shares of the company’s stock valued at $104,421,000 after acquiring an additional 3,497,975 shares in the last quarter. BlackRock Inc. raised its position in shares of Aramark by 14.3% during the 1st quarter. BlackRock Inc. now owns 16,018,108 shares of the company’s stock valued at $473,333,000 after acquiring an additional 2,006,743 shares in the last quarter. Sarasin & Partners LLP raised its position in shares of Aramark by 84.1% during the 2nd quarter. Sarasin & Partners LLP now owns 3,937,962 shares of the company’s stock valued at $142,003,000 after acquiring an additional 1,798,783 shares in the last quarter. Suvretta Capital Management LLC acquired a new stake in shares of Aramark during the 2nd quarter valued at approximately $64,668,000. Finally, Nuveen Asset Management LLC acquired a new stake in shares of Aramark during the 2nd quarter valued at approximately $54,938,000. Institutional investors own 93.82% of the company’s stock.

Aramark Company Profile

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.

Further Reading: Retained Earnings

The Fly

Analyst Recommendations for Aramark (NYSE:ARMK)

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.