Aramark (NYSE:ARMK) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Aramark (NYSE:ARMK) has been given an average recommendation of “Moderate Buy” by the thirteen ratings firms that are currently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $35.82.

A number of analysts have issued reports on the company. Robert W. Baird raised their target price on Aramark from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft upgraded shares of Aramark from a “hold” rating to a “buy” rating and raised their price objective for the stock from $36.00 to $39.00 in a research report on Wednesday, August 7th. Royal Bank of Canada boosted their target price on shares of Aramark from $33.00 to $36.00 and gave the company a “sector perform” rating in a report on Wednesday, August 7th. Oppenheimer increased their price target on Aramark from $36.00 to $39.00 and gave the stock an “outperform” rating in a report on Wednesday, June 12th. Finally, Truist Financial lowered shares of Aramark from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th.

Aramark Stock Performance

NYSE:ARMK opened at $37.38 on Friday. Aramark has a twelve month low of $23.95 and a twelve month high of $37.47. The company has a market cap of $9.83 billion, a P/E ratio of 15.71, a P/E/G ratio of 1.96 and a beta of 1.59. The company has a current ratio of 0.96, a quick ratio of 0.86 and a debt-to-equity ratio of 1.71. The company’s 50-day moving average price is $34.28 and its 200-day moving average price is $32.84.

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

Aramark Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th were paid a $0.095 dividend. This represents a $0.38 annualized dividend and a dividend yield of 1.02%. The ex-dividend date was Monday, August 19th. Aramark’s payout ratio is 15.97%.

Hedge Funds Weigh In On Aramark

Several institutional investors have recently modified their holdings of the business. Rise Advisors LLC acquired a new stake in Aramark in the first quarter valued at approximately $25,000. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Aramark during the 4th quarter worth $28,000. Scarborough Advisors LLC acquired a new position in shares of Aramark during the fourth quarter worth $34,000. Twin Tree Management LP increased its holdings in Aramark by 32.0% in the first quarter. Twin Tree Management LP now owns 1,424 shares of the company’s stock valued at $46,000 after buying an additional 345 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in Aramark by 319.3% in the second quarter. GAMMA Investing LLC now owns 1,677 shares of the company’s stock valued at $57,000 after buying an additional 1,277 shares in 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.