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

Aramark (NYSE:ARMK) had its price objective upped by equities researchers at Morgan Stanley from $40.00 to $43.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 7.05% from the company’s current price.

A number of other brokerages have also commented on ARMK. Royal Bank of Canada raised Aramark from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $36.00 to $42.50 in a research report on Tuesday, September 17th. Stifel Nicolaus boosted their price objective on Aramark from $43.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Robert W. Baird increased their target price on Aramark from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday. Truist Financial lifted their price target on shares of Aramark from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Aramark from $41.00 to $45.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.59.

Aramark Stock Performance

Shares of Aramark stock opened at $40.17 on Thursday. The business has a 50-day moving average price of $39.22 and a two-hundred day moving average price of $36.36. Aramark has a 1-year low of $27.05 and a 1-year high of $42.49. The company has a current ratio of 0.81, a quick ratio of 0.72 and a debt-to-equity ratio of 1.42. The company has a market cap of $10.60 billion, a P/E ratio of 40.58 and a beta of 1.63.

Aramark (NYSE:ARMK) last announced its quarterly earnings data on Monday, November 11th. The company reported $0.54 EPS for the quarter, hitting the consensus estimate of $0.54. Aramark had a net margin of 1.51% and a return on equity of 14.06%. The company had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same quarter last year, the firm posted $0.64 EPS. The company’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, analysts anticipate that Aramark will post 1.92 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ARMK. Janus Henderson Group PLC raised its stake in shares of Aramark by 6.0% during the 3rd quarter. Janus Henderson Group PLC now owns 15,714,443 shares of the company’s stock worth $608,619,000 after purchasing an additional 896,288 shares during the period. Massachusetts Financial Services Co. MA raised its position in Aramark by 70.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 8,329,917 shares of the company’s stock worth $322,618,000 after acquiring an additional 3,430,131 shares during the period. Franklin Resources Inc. raised its position in Aramark by 7.2% in the third quarter. Franklin Resources Inc. now owns 6,570,938 shares of the company’s stock worth $254,427,000 after acquiring an additional 441,711 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Aramark by 18.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,731,963 shares of the company’s stock worth $160,977,000 after purchasing an additional 720,738 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Aramark by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,363,113 shares of the company’s stock worth $169,028,000 after purchasing an additional 45,384 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.