The stock of Aramark (NYSE:ARMK) hit a new 52-week high and has $50.02 target or 31.00% above today’s $38.18 share price. The 6 months bullish chart indicates low risk for the $9.38 billion company. The 1-year high was reported on Sep, 30 by Barchart.com. If the $50.02 price target is reached, the company will be worth $2.91 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 846,519 shares traded hands. Aramark (NYSE:ARMK) has risen 20.05% since February 26, 2016 and is uptrending. It has outperformed by 9.63% the S&P500.
Analysts await Aramark (NYSE:ARMK) to report earnings on November, 16. They expect $0.45 EPS, up 12.50% or $0.05 from last year’s $0.4 per share. ARMK’s profit will be $110.56 million for 21.21 P/E if the $0.45 EPS becomes a reality. After $0.30 actual EPS reported by Aramark for the previous quarter, Wall Street now forecasts 50.00% EPS growth.
Aramark (NYSE:ARMK) Ratings Coverage
Out of 9 analysts covering Aramark Holdings Corporation (NYSE:ARMK), 9 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $44 is the highest target while $36 is the lowest. The $41.25 average target is 8.04% above today’s ($38.18) stock price. Aramark Holdings Corporation has been the topic of 13 analyst reports since August 13, 2015 according to StockzIntelligence Inc. The stock of Aramark (NYSE:ARMK) earned “Overweight” rating by JP Morgan on Thursday, August 11. The company was initiated on Tuesday, March 22 by Sterne Agee CRT. As per Wednesday, August 12, the company rating was upgraded by Zacks. The rating was upgraded by Robert W. Baird to “Outperform” on Thursday, August 13. Bank of America maintained the shares of ARMK in a report on Thursday, August 11 with “Buy” rating. Credit Suisse initiated Aramark (NYSE:ARMK) rating on Friday, August 14. Credit Suisse has “Outperform” rating and $37 price target. The firm has “Buy” rating given on Thursday, August 11 by Nomura. The stock has “Top Pick” rating given by RBC Capital Markets on Thursday, August 13. The company was maintained on Thursday, August 11 by Barclays Capital. RBC Capital Markets maintained the stock with “Top Pick” rating in Thursday, August 11 report.
According to Zacks Investment Research, “ARAMARK Holdings Corporation offers food services, facilities management, uniform and career apparel to health care institutions, universities, school districts, stadiums and businesses. It operates primarily in three segments: Food and Support Services North America, Food and Support Services International and Uniform and Career Apparel segment. The company’s FSS North America and FSS International segment provides food, refreshment, specialized dietary and support services, including facility maintenance and housekeeping. Uniform segment provides rental, sale, cleaning, maintenance and delivery of personalized uniform and career apparel and other textile items. It operates primarily in North America, United Kingdom, Germany, Chile and Ireland. ARAMARK Holdings Corporation is headquartered in Philadelphia, PA.”
Insitutional Activity: The institutional sentiment increased to 1.61 in Q2 2016. Its up 0.29, from 1.32 in 2016Q1. The ratio improved, as 28 funds sold all Aramark shares owned while 73 reduced positions. 33 funds bought stakes while 130 increased positions. They now own 224.71 million shares or 1.05% less from 227.09 million shares in 2016Q1.
Schroder Investment Mgmt Gp accumulated 3.02M shares or 0.2% of the stock. Moreover, British Columbia Inv Corp has 0.05% invested in Aramark (NYSE:ARMK) for 163,260 shares. Parametric Portfolio Associates Ltd Liability Corp owns 326,069 shares or 0.02% of their US portfolio. Stoneridge Investment Prtn Limited Liability last reported 63,857 shares in the company. Glenmede Na last reported 0% of its portfolio in the stock. Fmr Ltd Liability Corporation has 19.12M shares for 0.09% of their US portfolio. Northern Corp accumulated 0.02% or 1.68M shares. Fifth Third Fincl Bank has invested 0% of its portfolio in Aramark (NYSE:ARMK). Gulf Intl Retail Bank (Uk) Ltd has 70,920 shares for 0.04% of their US portfolio. Henderson Gp Public Ltd Co accumulated 16,765 shares or 0% of the stock. Parkwood owns 14,372 shares or 0.08% of their US portfolio. California State Teachers Retirement Sys holds 0.04% of its portfolio in Aramark (NYSE:ARMK) for 520,938 shares. Hbk Investments L P accumulated 0.04% or 130,722 shares. Livforsakringsbolaget Skandia Omsesidigt holds 15,900 shares or 0.02% of its portfolio. Princeton Alpha Management L P has 18,007 shares for 0.11% of their US portfolio.
Insider Transactions: Since May 27, 2016, the stock had 0 insider buys, and 2 selling transactions for $5.21 million net activity. On Wednesday, August 17 the insider Reynolds Stephen R sold $2.10M.
More notable recent Aramark (NYSE:ARMK) news were published by: Philly.com which released: “Aramark moving Schuylkill-side as downtown office district shifts west” on September 12, 2016, also Philly.com with their article: “Aramark’s departure will deal a glancing blow to Market East” published on September 13, 2016, Bizjournals.com published: “Aramark’s Midwest HQ in Downers Grove is sold” on September 08, 2016. More interesting news about Aramark (NYSE:ARMK) were released by: Barrons.com and their article: “More Gains on the Menu at Aramark” published on September 03, 2016 as well as Seekingalpha.com‘s news article titled: “Aramark – Can Lofty Earnings Expectations Be Reached?” with publication date: September 20, 2016.
ARMK Company Profile
Aramark, formerly ARAMARK Holdings Corporation, incorporated on May 12, 2006, is a global well-known provider of food, facilities and uniform services to education, healthcare, business and industry and sports, leisure and corrections clients. The Companyâ€™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 2,000 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 divisions: 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. The Company’s business is generally focused around key client types, such as education, healthcare, business and industry, sports and leisure and corrections.
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