Analysts Set Aramark (NYSE:ARMK) Target Price at $37.33
Aramark (NYSE:ARMK) has been assigned an average rating of “Buy” from the six brokerages that are covering the firm, Market Beat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $37.33.
In other Aramark news, EVP Lynn Mckee sold 75,000 shares of the company’s stock in a transaction dated Friday, December 18th. The shares were sold at an average price of $32.36, for a total value of $2,427,000.00. Following the completion of the sale, the executive vice president now directly owns 355,199 shares of the company’s stock, valued at approximately $11,494,239.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
A number of hedge funds have recently bought and sold shares of the stock. Beacon Capital Management purchased a new stake in Aramark during the fourth quarter worth approximately $0. Fourth Swedish National Pension Fund raised its stake in Aramark by 0.3% in the fourth quarter. Fourth Swedish National Pension Fund now owns 63,433 shares of the company’s stock worth $2,046,000 after buying an additional 210 shares in the last quarter. KBC Group raised its stake in Aramark by 48.0% in the third quarter. KBC Group now owns 8,638 shares of the company’s stock worth $256,000 after buying an additional 2,802 shares in the last quarter. BB&T Securities raised its stake in Aramark by 75.8% in the fourth quarter. BB&T Securities now owns 13,777 shares of the company’s stock worth $444,000 after buying an additional 5,942 shares in the last quarter. Finally, DNB Asset Management purchased a new stake in Aramark during the fourth quarter worth approximately $474,075.
Several equities analysts have recently commented on the stock. TheStreet upgraded shares of Aramark from a “hold” rating to a “buy” rating in a research report on Friday, December 11th. Credit Suisse increased their target price on shares of Aramark from $37.00 to $38.00 and gave the company an “outperform” rating in a research report on Wednesday, December 2nd. RBC Capital increased their target price on shares of Aramark from $36.00 to $37.00 and gave the company a “top pick” rating in a research report on Friday, November 6th. Finally, Zacks Investment Research lowered shares of Aramark from a “hold” rating to a “sell” rating in a research report on Tuesday, January 19th.
Shares of Aramark (NYSE:ARMK) opened at 31.80 on Tuesday. Aramark has a one year low of $28.09 and a one year high of $35.06. The stock has a market capitalization of $7.65 billion and a P/E ratio of 33.12. The stock’s 50 day moving average is $32.05 and its 200-day moving average is $31.67.
Aramark (NYSE:ARMK) last released its quarterly earnings results on Wednesday, November 18th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.39 by $0.05. The firm had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.58 billion. During the same quarter in the prior year, the company posted $0.39 EPS. The firm’s revenue was down 10.2% on a year-over-year basis. On average, equities research analysts expect that Aramark will post $1.68 EPS for the current year.
Aramark, formerly ARAMARK Holdings Corporation, is a global provider of food, facilities and uniform services to education, healthcare, business and industry and sports, leisure and corrections clients. The Company’s core market is North America. It serves students, patients, employees, sports fans and guests worldwide. It serves over 500 million meals annually to approximately five million students at colleges, universities, and K-12 schools, services over 2,000 healthcare facilities, caters to approximately 100 million sports fans, and operates in 22 countries in North America, Europe, Asia and South America, as of September 28, 2012. It operates in three reportable segments: food and Support Services North America, or FSS North America, Food and Support Services International, or FSS International, and Uniform and Career Apparel, or Uniform.
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