Aramark (NYSE:ARMK) Shares Gap Up to $20.55

Aramark (NYSE:ARMK) shares gapped up prior to trading on Wednesday . The stock had previously closed at $19.88, but opened at $20.55. Aramark shares last traded at $23.31, with a volume of 5,164,210 shares changing hands.

Several analysts have commented on the company. Zacks Investment Research lowered Aramark from a “buy” rating to a “hold” rating in a report on Tuesday, March 24th. Berenberg Bank lowered Aramark from a “buy” rating to a “hold” rating and raised their price objective for the company from $37.00 to $43.00 in a report on Friday, January 17th. Oppenheimer dropped their price objective on Aramark from $50.00 to $30.00 and set an “outperform” rating on the stock in a report on Monday. TheStreet lowered Aramark from a “b-” rating to a “c+” rating in a report on Monday, March 9th. Finally, Citigroup raised Aramark from a “sell” rating to a “buy” rating and dropped their price objective for the company from $39.00 to $30.00 in a report on Monday, March 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. Aramark presently has a consensus rating of “Hold” and an average price target of $38.82.

The stock has a 50 day simple moving average of $27.77 and a two-hundred day simple moving average of $39.70. The company has a market cap of $5.47 billion, a price-to-earnings ratio of 17.14, a price-to-earnings-growth ratio of 1.24 and a beta of 1.48. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.23 and a quick ratio of 1.06.

Aramark (NYSE:ARMK) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.07. The company had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.30 billion. Aramark had a return on equity of 16.88% and a net margin of 2.12%. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 earnings per share. As a group, research analysts forecast that Aramark will post 1.74 EPS for the current year.

In other Aramark news, Director Greg Creed bought 3,000 shares of Aramark stock in a transaction on Monday, March 2nd. The shares were bought at an average price of $34.30 per share, for a total transaction of $102,900.00. Following the completion of the transaction, the director now directly owns 3,488 shares of the company’s stock, valued at $119,638.40. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ridge Lp Mantle sold 20,517,966 shares of Aramark stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $26.01, for a total value of $533,672,295.66. The disclosure for this sale can be found here. Insiders have acquired 71,400 shares of company stock worth $1,722,168 in the last three months. 10.30% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of ARMK. Norges Bank purchased a new stake in Aramark in the fourth quarter valued at $109,160,000. Capital International Investors raised its holdings in shares of Aramark by 43.3% in the 4th quarter. Capital International Investors now owns 4,300,000 shares of the company’s stock valued at $186,620,000 after buying an additional 1,300,000 shares during the period. AQR Capital Management LLC raised its holdings in shares of Aramark by 235.1% in the 4th quarter. AQR Capital Management LLC now owns 1,408,192 shares of the company’s stock valued at $61,116,000 after buying an additional 988,012 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of Aramark in the 4th quarter valued at $32,604,000. Finally, D1 Capital Partners L.P. raised its holdings in shares of Aramark by 19.6% in the 4th quarter. D1 Capital Partners L.P. now owns 3,600,000 shares of the company’s stock valued at $156,240,000 after buying an additional 590,335 shares during the period. Institutional investors own 97.93% of the company’s stock.

Aramark Company Profile (NYSE:ARMK)

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.

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