Aramark (ARMK - Free Report) 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.
Investors interested in the Food - Miscellaneous industry may consider Flowers Foods, Inc. (FLO - Free Report) , which has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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