Aramark ARMK was a big mover last session, as the company saw its shares rise nearly 7% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $29.53 to $32.74 in the past one-month time frame.
The move came after news that investment firm, Mantle Ridge LP, may be exploring bid to acquire the company.
The company has seen two negative estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few weeks, suggesting there may be trouble down the road. So, make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
Aramark currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.
Aramark price | Aramark Quote
Investors interested in the Food - Miscellaneous industry may consider Flowers Foods, Inc. FLO, which has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Is ARMK going up? Or down? Predict to see what others think: Up or Down
The Could Be the Fastest Way to Grow Wealth in 2019
Research indicates one sector is poised to deliver a crop of the best-performing stocks you'll find anywhere in the market. Breaking news in this space frequently creates quick double- and triple-digit profit opportunities.
These companies are changing the world – and owning their stocks could transform your portfolio in 2019 and beyond. Recent trades from this sector have generated +98%, +119% and +164% gains in as little as 1 month.
Click here to see these breakthrough stocks now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Flowers Foods, Inc. (FLO) : Free Stock Analysis Report
Aramark (ARMK) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research