Aramark (ARMK) is Reiterated by RBC Capital Mkts to Top Pick, Raises Price Target to $ 42

Aramark (ARMK) was Reiterated by RBC Capital Mkts to “Top Pick” according to the research note released today. The brokerage firm has raised the Price Target to $ 42 from a previous price target of $40 . RBC Capital Mkts advised their investors in a research report released on Aug 11, 2016.

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 $35.72 and hit $35.89 on the upside on Monday, eventually ending the session at $35.76, with a gain of 0.08% or 0.03 points. The heightened volatility saw the trading volume jump to 15,35,132 shares. Company has a market cap of $8,683 M.

In a different news, on Jun 3, 2016, Lynn Mckee (EVP, Human Resources) sold 125,000 shares at $33.26 per share price. According to the SEC, on Jun 1, 2016, Stephen R Reynolds (EVP, GC and Secretary) sold 93,750 shares at $33.17 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 Company’s 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.


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