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Goldman initates Aramark (ARMK) stock to a Buy

Aramark’s recently made public that its SVP and General Counsel Harrington Lauren A unloaded Company’s shares for reported $0.42 million on Mar 05 ’24. In the deal valued at $31.02 per share,13,384 shares were sold. As a result of this transaction, Harrington Lauren A now holds 95,284 shares worth roughly $3.09 million.

Then, Harrington Lauren A sold 4,274 shares, generating $116,819 in total proceeds. Upon selling the shares at $27.33, the SVP and General Counsel now owns 95,142 shares.

Before that, Bruno Marc A sold 27,884 shares. Aramark shares valued at $743,666 were divested by the COO, U.S. Food & Facilities at a price of $26.67 per share. As a result of the transaction, Bruno Marc A now holds 225,653 shares, worth roughly $7.32 million.

Goldman initiated its Aramark [ARMK] rating to a Buy in a research note published on January 17, 2024; the price target was $33. A number of analysts have revised their coverage, including Truist’s analysts, who began to cover the stock in early January with a ‘”a Buy”‘ rating. Jefferies also remained covering ARMK and has increased its forecast on October 09, 2023 with a “Buy” recommendation from previously “Hold” rating. Citigroup revised its rating on September 01, 2023. It rated ARMK as “a Buy” which previously was an “a Neutral”.

Price Performance Review of ARMK

On Monday, Aramark [NYSE:ARMK] saw its stock jump 0.28% to $32.44. Over the last five days, the stock has gained 0.59%. Aramark shares have risen nearly 15.44% since the year began. Nevertheless, the stocks have risen 30.78% over the past one year. While a 52-week high of $33.04 was reached on 03/13/24, a 52-week low of $23.95 was recorded on 01/03/24. SMA at 50 days reached $31.56, while 200 days put it at $28.69. A total of 1.57 million shares were traded, compared to the trading of 1.97 million shares in the previous session.

Levels Of Support And Resistance For ARMK Stock

The 24-hour chart illustrates a support level at 32.27, which if violated will result in even more drops to 32.10. On the upside, there is a resistance level at 32.58. A further resistance level may holdings at 32.71. The Relative Strength Index (RSI) on the 14-day chart is 58.24, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.49, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 10.56%. Stochastics %K at 85.30% indicates the stock is a selling.

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