Aramark (NYSE:ARMK) was the target of a significant decline in short interest in the month of June. As of June 30th, there was short interest totalling 11,011,000 shares, a decline of 10.3% from the May 30th total of 12,271,800 shares. Based on an average daily volume of 3,400,000 shares, the short-interest ratio is currently 3.2 days. Currently, 4.5% of the shares of the company are short sold.
A number of equities analysts have recently commented on the company. ValuEngine lowered Willdan Group from a “buy” rating to a “hold” rating in a research note on Thursday, May 30th. Morgan Stanley reiterated an “overweight” rating and issued a GBX 2,280 ($29.79) price objective on shares of Anglo American in a research note on Wednesday, May 8th. TheStreet lowered Primeenergy Resources from a “b-” rating to a “c” rating in a research note on Friday, July 5th. Zacks Investment Research upgraded GCP Applied Technologies from a “sell” rating to a “hold” rating in a research note on Friday, May 31st. Finally, Nomura reiterated a “neutral” rating and issued a $28.00 price objective (down from $46.00) on shares of Aramark in a research note on Monday, March 18th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $40.25.
Institutional investors and hedge funds have recently modified their holdings of the stock. CIBC Asset Management Inc grew its stake in shares of Aramark by 3.0% in the 1st quarter. CIBC Asset Management Inc now owns 12,169 shares of the company’s stock valued at $360,000 after purchasing an additional 349 shares during the period. Nordea Investment Management AB grew its stake in shares of Aramark by 6.0% in the 4th quarter. Nordea Investment Management AB now owns 11,865 shares of the company’s stock valued at $344,000 after purchasing an additional 673 shares during the period. First Hawaiian Bank grew its stake in shares of Aramark by 61.1% in the 1st quarter. First Hawaiian Bank now owns 2,201 shares of the company’s stock valued at $65,000 after purchasing an additional 835 shares during the period. Janney Capital Management LLC grew its stake in shares of Aramark by 10.3% in the 1st quarter. Janney Capital Management LLC now owns 8,998 shares of the company’s stock valued at $266,000 after purchasing an additional 837 shares during the period. Finally, Dean Investment Associates LLC grew its stake in shares of Aramark by 4.2% in the 1st quarter. Dean Investment Associates LLC now owns 26,455 shares of the company’s stock valued at $782,000 after purchasing an additional 1,059 shares during the period. Hedge funds and other institutional investors own 97.27% of the company’s stock.
Shares of ARMK opened at $36.45 on Friday. Aramark has a 12-month low of $25.49 and a 12-month high of $43.70. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 2.21. The company has a market capitalization of $8.98 billion, a price-to-earnings ratio of 17.27, a price-to-earnings-growth ratio of 1.97 and a beta of 0.89. The firm’s 50-day moving average price is $34.83.
Aramark (NYSE:ARMK) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.02. Aramark had a return on equity of 17.31% and a net margin of 3.27%. The firm had revenue of $4 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same period in the previous year, the company posted $0.48 earnings per share. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, equities research analysts expect that Aramark will post 2.03 earnings per share for the current fiscal year.
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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