Aramark (NYSE:ARMK) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Aramark (NYSE:ARMK) had its target price hoisted by Morgan Stanley from $38.00 to $40.00 in a research note released on Tuesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

ARMK has been the topic of a number of other reports. UBS Group raised their price objective on Aramark from $40.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Royal Bank of Canada raised Aramark from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $36.00 to $42.50 in a report on Tuesday, September 17th. StockNews.com raised Aramark from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Robert W. Baird raised their price objective on Aramark from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, Truist Financial lifted their price target on Aramark from $37.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $42.23.

Aramark Stock Performance

NYSE:ARMK opened at $37.36 on Tuesday. The business’s 50-day moving average price is $38.27 and its two-hundred day moving average price is $35.20. Aramark has a twelve month low of $26.58 and a twelve month high of $42.04. The stock has a market cap of $9.84 billion, a P/E ratio of 37.74 and a beta of 1.62. The company has a quick ratio of 0.86, a current ratio of 0.81 and a debt-to-equity ratio of 1.42.

Aramark (NYSE:ARMK) last released its quarterly earnings results on Monday, November 11th. The company reported $0.54 earnings per share for the quarter, meeting the consensus estimate of $0.54. The firm had revenue of $4.42 billion for the quarter, compared to analysts’ expectations of $4.46 billion. Aramark had a return on equity of 14.06% and a net margin of 1.51%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.64 EPS. As a group, equities analysts predict that Aramark will post 1.92 EPS for the current fiscal year.

Aramark Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Monday, December 2nd will be given a $0.001 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.00 dividend on an annualized basis and a dividend yield of 0.01%. Aramark’s dividend payout ratio is currently 38.38%.

Institutional Investors Weigh In On Aramark

Large investors have recently made changes to their positions in the business. Blue Trust Inc. grew its position in shares of Aramark by 173.9% in the 3rd quarter. Blue Trust Inc. now owns 5,697 shares of the company’s stock worth $221,000 after buying an additional 3,617 shares during the last quarter. Leeward Investments LLC MA bought a new stake in shares of Aramark in the 2nd quarter worth approximately $9,263,000. Public Employees Retirement Association of Colorado grew its position in shares of Aramark by 19.1% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 810,174 shares of the company’s stock worth $26,347,000 after buying an additional 129,939 shares during the last quarter. Asset Management One Co. Ltd. grew its position in shares of Aramark by 63.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 140,432 shares of the company’s stock worth $5,439,000 after buying an additional 54,580 shares during the last quarter. Finally, Comerica Bank grew its position in shares of Aramark by 14.9% in the 1st quarter. Comerica Bank now owns 126,658 shares of the company’s stock worth $4,119,000 after buying an additional 16,423 shares during the last quarter.

About Aramark

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.