JPMorgan Chase & Co. Trims Aramark (ARMK) Target Price to $48.00

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Aramark (NYSE:ARMK) had its price target reduced by stock analysts at JPMorgan Chase & Co. from $53.00 to $48.00 in a report issued on Wednesday. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s price target points to a potential upside of 33.22% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. Robert W. Baird raised shares of Aramark from a “neutral” rating to an “outperform” rating and set a $44.00 price objective for the company in a research note on Wednesday. ValuEngine raised shares of Aramark from a “sell” rating to a “hold” rating in a research note on Friday, July 20th. Morgan Stanley reissued a “hold” rating and issued a $45.00 price objective (up previously from $44.00) on shares of Aramark in a research note on Thursday, September 13th. Zacks Investment Research raised shares of Aramark from a “sell” rating to a “hold” rating in a research note on Wednesday, August 22nd. Finally, Barclays reduced their price objective on shares of Aramark from $47.00 to $42.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 24th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company’s stock. Aramark presently has a consensus rating of “Buy” and a consensus target price of $48.20.

Shares of Aramark stock traded up $0.59 on Wednesday, hitting $36.03. 37,878 shares of the company traded hands, compared to its average volume of 2,645,968. The company has a debt-to-equity ratio of 2.74, a quick ratio of 1.03 and a current ratio of 1.36. Aramark has a 52 week low of $33.98 and a 52 week high of $46.09. The company has a market capitalization of $8.53 billion, a PE ratio of 20.36, a P/E/G ratio of 1.16 and a beta of 0.88.

Aramark (NYSE:ARMK) last posted its quarterly earnings results on Tuesday, November 13th. The company reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.03. The firm had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.96 billion. Aramark had a net margin of 3.26% and a return on equity of 17.37%. The company’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.54 earnings per share. On average, analysts forecast that Aramark will post 1.99 earnings per share for the current year.

In other Aramark news, EVP Stephen R. Reynolds sold 15,000 shares of Aramark stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $41.33, for a total value of $619,950.00. Following the transaction, the executive vice president now directly owns 47,058 shares of the company’s stock, valued at $1,944,907.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.30% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. IFP Advisors Inc grew its holdings in Aramark by 985.5% in 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 last quarter. Squar Milner Financial Services LLC purchased a new stake in shares of Aramark during the second quarter valued at $105,000. FNY Investment Advisers LLC purchased a new stake in shares of Aramark during the second quarter valued at $148,000. Point72 Hong Kong Ltd purchased a new stake in shares of Aramark during the second quarter valued at $161,000. Finally, Fuller & Thaler Asset Management Inc. grew its holdings in shares of Aramark by 49.0% during the second quarter. Fuller & Thaler Asset Management Inc. now owns 5,140 shares of the company’s stock valued at $191,000 after buying an additional 1,690 shares during the last quarter. 97.58% of the stock is currently owned by institutional investors and hedge funds.

About Aramark

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

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