Aramark (NYSE:ARMK) Sees Large Drop in Short Interest
Aramark (NYSE:ARMK – Get Free Report) was the target of a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 11,030,000 shares, a decrease of 11.4% from the October 31st total of 12,450,000 shares. Based on an average daily trading volume, of 3,540,000 shares, the short-interest ratio is presently 3.1 days.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on the stock. Barclays upped their price objective on shares of Aramark from $36.00 to $38.00 and gave the stock an “underweight” rating in a report on Thursday, August 10th. JPMorgan Chase & Co. decreased their price objective on shares of Aramark from $47.00 to $35.00 and set an “overweight” rating for the company in a report on Monday, October 16th. Royal Bank of Canada cut their target price on shares of Aramark from $48.00 to $43.00 and set a “sector perform” rating for the company in a research note on Monday, September 25th. Oppenheimer cut their target price on shares of Aramark from $50.00 to $28.00 and set an “outperform” rating for the company in a research note on Thursday, October 5th. Finally, Morgan Stanley cut their target price on shares of Aramark from $27.00 to $26.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.50.
Check Out Our Latest Stock Analysis on ARMK
Aramark Price Performance
Shares of ARMK stock traded down $0.11 during mid-day trading on Monday, reaching $28.19. The company’s stock had a trading volume of 3,343,858 shares, compared to its average volume of 4,594,401. Aramark has a 1-year low of $23.55 and a 1-year high of $33.01. The company has a market cap of $7.37 billion, a P/E ratio of 11.01, a PEG ratio of 0.83 and a beta of 1.54. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.92 and a current ratio of 1.04. The firm’s 50-day moving average is $27.73 and its two-hundred day moving average is $35.40.
Aramark (NYSE:ARMK – Get Free Report) last announced its quarterly earnings data on Tuesday, November 14th. The company reported $0.64 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.64. Aramark had a net margin of 3.58% and a return on equity of 13.13%. The company had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.79 billion. During the same quarter in the prior year, the company posted $0.48 EPS. The business’s revenue was up 11.7% on a year-over-year basis. On average, research analysts predict that Aramark will post 1.5 earnings per share for the current year.
Aramark Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Tuesday, November 28th will be given a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Monday, November 27th. Aramark’s dividend payout ratio (DPR) is currently 14.84%.
Institutional Investors Weigh In On Aramark
A number of hedge funds have recently made changes to their positions in ARMK. BlackRock Inc. increased its position in shares of Aramark by 102.9% during the 1st quarter. BlackRock Inc. now owns 24,774,397 shares of the company’s stock worth $886,923,000 after purchasing an additional 12,562,434 shares in the last quarter. Morgan Stanley grew its holdings in Aramark by 1,042.8% during the 4th quarter. Morgan Stanley now owns 12,850,218 shares of the company’s stock worth $531,228,000 after acquiring an additional 11,725,727 shares during the last quarter. State Street Corp grew its holdings in Aramark by 63.3% during the 1st quarter. State Street Corp now owns 7,929,211 shares of the company’s stock worth $283,866,000 after acquiring an additional 3,074,389 shares during the last quarter. Norges Bank bought a new stake in Aramark during the 4th quarter worth about $95,987,000. Finally, Mizuho Markets Americas LLC bought a new stake in Aramark during the 1st quarter worth about $78,760,000.
Aramark Company Profile (Get Free Report)
Aramark provides food, facilities, and uniform services to education, healthcare, business and industry, sports, leisure, and corrections clients in the United States and internationally. It operates through three segments: Food and Support Services United States, Food and Support Services International, and Uniform and Career Apparel.
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Original: MarketBeat News Feed: Aramark (NYSE:ARMK) Sees Large Drop in Short Interest