Aramark (NYSE:ARMK) PT Raised to $37.00 at Truist Financial

Aramark (NYSE:ARMKGet Free Report) had its price objective upped by investment analysts at Truist Financial from $35.00 to $37.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target points to a potential upside of 18.10% from the company’s current price.

A number of other equities research analysts have also weighed in on ARMK. Royal Bank of Canada reiterated a “sector perform” rating and set a $33.00 target price on shares of Aramark in a research note on Wednesday, February 7th. Morgan Stanley upped their price objective on Aramark from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. The Goldman Sachs Group started coverage on Aramark in a research note on Wednesday, January 17th. They issued a “buy” rating and a $33.00 price objective for the company. Finally, StockNews.com began coverage on Aramark in a research note on Thursday, December 7th. They issued a “hold” rating for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $33.46.

Check Out Our Latest Stock Report on ARMK

Aramark Price Performance

Shares of NYSE ARMK opened at $31.33 on Wednesday. Aramark has a twelve month low of $23.94 and a twelve month high of $33.04. The firm has a market cap of $8.22 billion, a P/E ratio of 13.11, a PEG ratio of 1.27 and a beta of 1.47. The company has a 50 day moving average of $30.26 and a 200 day moving average of $29.59. The company has a quick ratio of 1.12, a current ratio of 1.27 and a debt-to-equity ratio of 2.08.

Aramark (NYSE:ARMKGet Free Report) last announced its earnings results on Tuesday, February 6th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.05. The business had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.29 billion. Aramark had a net margin of 3.37% and a return on equity of 13.45%. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.41 EPS. As a group, research analysts expect that Aramark will post 1.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Aramark

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Aramark by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 25,584,242 shares of the company’s stock worth $718,917,000 after purchasing an additional 139,693 shares during the last quarter. BlackRock Inc. grew its holdings in Aramark by 102.9% in the first 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 during the last quarter. Capital International Investors grew its holdings in Aramark by 0.4% in the fourth quarter. Capital International Investors now owns 23,614,308 shares of the company’s stock worth $663,545,000 after purchasing an additional 91,866 shares during the last quarter. Morgan Stanley lifted its stake in shares of Aramark by 1,042.8% during the fourth quarter. Morgan Stanley now owns 12,850,218 shares of the company’s stock worth $531,228,000 after buying an additional 11,725,727 shares during the period. Finally, State Street Corp lifted its stake in shares of Aramark by 63.3% during the first quarter. State Street Corp now owns 7,929,211 shares of the company’s stock worth $283,866,000 after buying an additional 3,074,389 shares during the period.

About Aramark

(Get Free Report)

Aramark provides food and facilities services to education, healthcare, business and industry, sports, leisure, and corrections clients in the United States and internationally. It operates through two segments, Food and Support Services United States, and Food and Support Services International. The company offers food-related managed services, including dining, catering, food service management, and convenience-oriented retail services; non-clinical food and food-related support services, such as patient food and nutrition, retail food, environmental services, and procurement services; and plant operations and maintenance, custodial/housekeeping, energy management, grounds keeping, and capital project management services.

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Analyst Recommendations for Aramark (NYSE:ARMK)

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