Robert W. Baird Issues Positive Forecast for Aramark (NYSE:ARMK) Stock Price

Aramark (NYSE:ARMK) had its target price lifted by Robert W. Baird from $44.00 to $45.00 in a report released on Thursday,Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

Several other equities research analysts also recently weighed in on the stock. 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. Truist Financial boosted their price target on shares of Aramark from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. StockNews.com raised Aramark from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Stifel Nicolaus lifted their price target on Aramark from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, Morgan Stanley upped their price objective on Aramark from $38.00 to $40.00 and gave the company an “equal weight” rating in a report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $42.59.

Aramark Price Performance

Shares of NYSE:ARMK opened at $40.17 on Thursday. The firm’s 50 day moving average is $39.22 and its two-hundred day moving average is $36.39. The firm has a market capitalization of $10.60 billion, a P/E ratio of 40.58 and a beta of 1.63. The company has a current ratio of 0.81, a quick ratio of 0.72 and a debt-to-equity ratio of 1.42. Aramark has a 52 week low of $27.05 and a 52 week high of $42.49.

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

Aramark Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.001 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.00 annualized dividend and a dividend yield of 0.01%. Aramark’s dividend payout ratio is 42.42%.

Institutional Investors Weigh In On Aramark

Institutional investors and hedge funds have recently modified their holdings of the business. Huntington National Bank raised its holdings in Aramark by 100.3% during the third quarter. Huntington National Bank now owns 681 shares of the company’s stock valued at $26,000 after buying an additional 341 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Aramark in the third quarter worth $28,000. UMB Bank n.a. boosted its holdings in shares of Aramark by 360.1% during the 3rd quarter. UMB Bank n.a. now owns 773 shares of the company’s stock worth $30,000 after buying an additional 605 shares during the period. Friedenthal Financial acquired a new position in Aramark in the 3rd quarter valued at $52,000. Finally, CWM LLC raised its holdings in Aramark by 112.6% in the 3rd quarter. CWM LLC now owns 1,822 shares of the company’s stock worth $71,000 after acquiring an additional 965 shares during the period.

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.