Aramark (ARMK) – Research Analysts’ Weekly Ratings Updates

A number of firms have modified their ratings and price targets on shares of Aramark (NYSE: ARMK) recently:

• 9/13/2024 – Aramark was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 9/12/2024 – Aramark had its price target raised by analysts at Truist Financial Co. from $37.00 to $42.00. They now have a “buy” rating on the stock.
• 9/9/2024 – Aramark had its price target raised by analysts at JPMorgan Chase & Co. from $39.00 to $41.00. They now have an “overweight” rating on the stock.
• 9/9/2024 – Aramark had its price target raised by analysts at Morgan Stanley from $35.00 to $38.00. They now have an “equal weight” rating on the stock.
• 8/7/2024 – Aramark had its price target raised by analysts at Royal Bank of Canada from $33.00 to $36.00. They now have a “sector perform” rating on the stock.
• 8/7/2024 – Aramark had its price target raised by analysts at JPMorgan Chase & Co. from $35.00 to $39.00. They now have an “overweight” rating on the stock.
• 8/7/2024 – Aramark had its price target raised by analysts at Robert W. Baird from $37.00 to $38.00. They now have a “neutral” rating on the stock.
• 8/7/2024 – Aramark was downgraded by analysts at Truist Financial Co. from a “strong-buy” rating to a “hold” rating.
• 8/7/2024 – Aramark had its price target raised by analysts at Bank of America Co. from $36.00 to $39.00. They now have a “buy” rating on the stock.
• 8/7/2024 – Aramark was upgraded by analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating. They now have a $39.00 price target on the stock, up previously from $36.00.

Aramark Trading Up 0.3 %

Aramark stock opened at $38.21 on Monday. The company’s fifty day simple moving average is $34.89 and its 200-day simple moving average is $33.19. The company has a quick ratio of 0.86, a current ratio of 0.96 and a debt-to-equity ratio of 1.71. Aramark has a 12 month low of $23.95 and a 12 month high of $38.54. The stock has a market cap of $10.07 billion, a P/E ratio of 16.05, a P/E/G ratio of 2.04 and a beta of 1.62.

Aramark (NYSE:ARMK) last posted its earnings results on Tuesday, August 6th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.30 by $0.01. The firm had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.31 billion. Aramark had a net margin of 1.93% and a return on equity of 14.09%. The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.36 earnings per share. As a group, sell-side analysts forecast that Aramark will post 1.57 EPS for the current fiscal year.

Aramark Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were given a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend was Monday, August 19th. Aramark’s payout ratio is 15.97%.

Hedge Funds Weigh In On Aramark

Several hedge funds have recently bought and sold shares of ARMK. Artisan Partners Limited Partnership lifted its stake in shares of Aramark by 9.3% in the fourth quarter. Artisan Partners Limited Partnership now owns 391,727 shares of the company’s stock valued at $11,008,000 after buying an additional 33,206 shares during the period. Bank of Nova Scotia raised its position in Aramark by 84.7% in the fourth quarter. Bank of Nova Scotia now owns 1,192,142 shares of the company’s stock worth $33,498,000 after purchasing an additional 546,796 shares in the last quarter. SG Americas Securities LLC raised its position in Aramark by 131.8% in the first quarter. SG Americas Securities LLC now owns 97,167 shares of the company’s stock worth $3,160,000 after purchasing an additional 55,249 shares in the last quarter. Public Sector Pension Investment Board acquired a new position in Aramark in the fourth quarter worth about $75,477,000. Finally, Vanguard Group Inc. raised its position 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 in the last quarter.

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.