Aramark (ARMK) was Initiated by Macquarie to “Outperform” and the brokerage firm has set the Price Target at $44. Macquarie advised their investors in a research report released on Aug 26, 2016.
Many Wall Street Analysts have commented on Aramark. Company shares were Reiterated by RBC Capital Mkts on Aug 11, 2016 to “Top Pick”, Firm has raised the Price Target to $ 42 from a previous price target of $40 .
On the company’s financial health, Aramark reported $0.34 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 10, 2016. Analyst had a consensus of $0.32. The company had revenue of $3590.00 million for the quarter, compared to analysts expectations of $3576.94 million. The company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 EPS.
Aramark opened for trading at $37.05 and hit $37.315 on the upside on Tuesday, eventually ending the session at $37.29, with a gain of 1.19% or 0.44 points. The heightened volatility saw the trading volume jump to 13,63,749 shares. Company has a market cap of $9,095 M.
In a different news, on Aug 19, 2016, Stephen R Reynolds (EVP, GC and Secretary) sold 56,709 shares at $36.97 per share price. According to the SEC, on Jun 3, 2016, Lynn Mckee (EVP, Human Resources) sold 125,000 shares at $33.26 per share price. On Aug 25, 2015, Todd M Abbrecht (director) sold 8,725,722 shares at $32.30 per share price, according to the Form-4 filing with the securities and exchange commission.
Aramark formerly ARAMARK Holdings Corporation is a global provider of food facilities and uniform services to education healthcare business and industry and sports leisure and corrections clients. The Companys core market is North America. It serves students patients employees sports fans and guests worldwide. It serves over 500 million meals annually to approximately five million students at colleges universities and K-12 schools services over 2000 healthcare facilities caters to approximately 100 million sports fans and operates in 22 countries in North America Europe Asia and South America as of September 28 2012. It operates in three reportable segments: food and Support Services North America or FSS North America Food and Support Services International or FSS International and Uniform and Career Apparel or Uniform.