Aramark (NYSE:ARMK) Downgraded to Sell at StockNews.com

Aramark (NYSE:ARMK) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

A number of other equities research analysts also recently commented on ARMK. Morgan Stanley upped their price objective on Aramark from $35.00 to $38.00 and gave the company an “equal weight” rating in a report on Monday, September 9th. UBS Group upped their price objective on Aramark from $40.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. upped their price objective on Aramark from $39.00 to $41.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Oppenheimer upped their price objective on Aramark from $36.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, June 12th. Finally, Truist Financial upped their price objective on Aramark from $37.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.00.

Aramark Trading Up 0.9 %

Shares of ARMK stock traded up $0.33 on Tuesday, reaching $37.60. 1,345,917 shares of the stock were exchanged, compared to its average volume of 2,265,413. The stock has a market cap of $9.89 billion, a PE ratio of 15.80 and a beta of 1.62. Aramark has a one year low of $24.46 and a one year high of $38.99. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.96 and a quick ratio of 0.86. The stock has a 50 day moving average price of $36.49 and a 200 day moving average price of $33.98.

Aramark (NYSE:ARMK) last released its earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. The company had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.31 billion. Aramark had a return on equity of 14.09% and a net margin of 1.93%. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.36 earnings per share. Equities research analysts forecast that Aramark will post 1.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Diversified Trust Co acquired a new position in shares of Aramark during the third quarter worth about $474,000. GAMMA Investing LLC boosted its position in shares of Aramark by 97.2% during the third quarter. GAMMA Investing LLC now owns 3,307 shares of the company’s stock worth $128,000 after buying an additional 1,630 shares during the period. Handelsbanken Fonder AB boosted its position in shares of Aramark by 19.4% during the third quarter. Handelsbanken Fonder AB now owns 58,500 shares of the company’s stock worth $2,266,000 after buying an additional 9,500 shares during the period. Souders Financial Advisors boosted its position in shares of Aramark by 2.9% during the second quarter. Souders Financial Advisors now owns 105,732 shares of the company’s stock worth $3,597,000 after buying an additional 2,949 shares during the period. Finally, Truist Financial Corp boosted its position in shares of Aramark by 20.1% during the second quarter. Truist Financial Corp now owns 8,961 shares of the company’s stock worth $305,000 after buying an additional 1,497 shares during the period.

About Aramark

Aramark provides food and facilities services to education, healthcare, business and industry, sports, leisure, and corrections clients in the United States and internationally. It operates through two segments, Food and Support Services United States, and Food and Support Services International. The company offers food-related managed services, including dining, catering, food service management, and convenience-oriented retail services; non-clinical food and food-related support services, such as patient food and nutrition, retail food, environmental services, and procurement services; and plant operations and maintenance, custodial/housekeeping, energy management, grounds keeping, and capital project management services.