Aramark (NYSE:ARMK) PT Lowered to $26.00

Aramark (NYSE:ARMK) had its target price cut by equities researchers at Morgan Stanley from $27.00 to $26.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target would indicate a potential downside of 6.00% from the company’s previous close.

A number of other research analysts also recently issued reports on ARMK. JPMorgan Chase & Co. cut their target price on shares of Aramark from $47.00 to $35.00 and set an “overweight” rating on the stock in a research report on Monday, October 16th. UBS Group cut their target price on shares of Aramark from $43.00 to $29.00 and set a “buy” rating on the stock in a research report on Thursday, October 5th. Jefferies Financial Group upgraded shares of Aramark from a “hold” rating to a “buy” rating and cut their target price for the company from $44.00 to $29.00 in a research report on Monday, October 9th. Barclays upped their target price on shares of Aramark from $36.00 to $38.00 and gave the company an “underweight” rating in a research report on Thursday, August 10th. Finally, Sanford C. Bernstein cut their target price on shares of Aramark from $47.00 to $33.00 in a research report on Thursday, October 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Aramark has an average rating of “Moderate Buy” and a consensus price target of $34.50.

Aramark Stock Up 2.3 %

Shares of NYSE:ARMK opened at $27.66 on Wednesday. Aramark has a 12 month low of $23.55 and a 12 month high of $33.01. The company’s 50-day moving average price is $29.86 and its two-hundred day moving average price is $36.07. The company has a quick ratio of 1.09, a current ratio of 1.30 and a debt-to-equity ratio of 2.12. The firm has a market cap of $7.22 billion, a P/E ratio of 13.36, a P/E/G ratio of 0.75 and a beta of 1.59.

Aramark (NYSE:ARMK) last issued its quarterly earnings data on Tuesday, November 14th. The company reported $0.64 EPS for the quarter, hitting analysts’ consensus estimates of $0.64. Aramark had a net margin of 2.97% and a return on equity of 12.59%. The firm had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.79 billion. During the same quarter in the prior year, the firm earned $0.48 EPS. The company’s revenue was up 11.7% on a year-over-year basis. As a group, research analysts forecast that Aramark will post 1.7 EPS for the current fiscal year.

Institutional Trading of Aramark

Hedge funds have recently bought and sold shares of the stock. Covestor Ltd raised its holdings in Aramark by 126.6% during the 2nd quarter. Covestor Ltd now owns 689 shares of the company’s stock worth $30,000 after buying an additional 385 shares during the period. Fifth Third Bancorp raised its holdings in Aramark by 57.6% during the 2nd quarter. Fifth Third Bancorp now owns 780 shares of the company’s stock worth $34,000 after buying an additional 285 shares during the period. S.A. Mason LLC bought a new position in shares of Aramark during the 3rd quarter worth approximately $38,000. EverSource Wealth Advisors LLC grew its stake in shares of Aramark by 2,269.4% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,161 shares of the company’s stock worth $40,000 after acquiring an additional 1,112 shares in the last quarter. Finally, CWM LLC grew its stake in shares of Aramark by 67.0% during the 3rd quarter. CWM LLC now owns 1,196 shares of the company’s stock worth $42,000 after acquiring an additional 480 shares in the last quarter.

About Aramark

Aramark provides food, facilities, and uniform services to education, healthcare, business and industry, sports, leisure, and corrections clients in the United States and internationally. It operates through three segments: Food and Support Services United States, Food and Support Services International, and Uniform and Career Apparel.