Truist Financial Increases Aramark (NYSE:ARMK) Price Target to $42.00

Aramark (NYSE:ARMK) had its target price hoisted by analysts at Truist Financial from $37.00 to $42.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price objective suggests a potential upside of 9.92% from the company’s previous close.

ARMK has been the subject of several other research reports. UBS Group upped their price target on shares of Aramark from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. Bank of America upped their price target on shares of Aramark from $36.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft raised shares of Aramark from a “hold” rating to a “buy” rating and upped their price target for the stock from $36.00 to $39.00 in a research report on Wednesday, August 7th. JPMorgan Chase & Co. upped their price target on shares of Aramark from $39.00 to $41.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Finally, Oppenheimer upped their price target on shares of Aramark from $36.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Aramark has an average rating of “Moderate Buy” and an average target price of $36.89.

Aramark Price Performance

Shares of ARMK stock opened at $38.21 on Thursday. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.96 and a quick ratio of 0.86. The company has a market capitalization 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. The company’s 50-day simple moving average is $34.89 and its two-hundred day simple moving average is $33.15. Aramark has a one year low of $23.95 and a one year high of $38.54.

Aramark (NYSE:ARMK) last issued its earnings results on Tuesday, August 6th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. The business 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 company’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 EPS. As a group, equities analysts anticipate that Aramark will post 1.57 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Souders Financial Advisors increased its stake in Aramark by 2.9% during the 2nd quarter. Souders Financial Advisors now owns 105,732 shares of the company’s stock valued at $3,597,000 after purchasing an additional 2,949 shares in the last quarter. Truist Financial Corp increased its stake in shares of Aramark by 20.1% in the second quarter. Truist Financial Corp now owns 8,961 shares of the company’s stock worth $305,000 after acquiring an additional 1,497 shares during the period. Algert Global LLC acquired a new stake in shares of Aramark in the second quarter worth $854,000. Susquehanna International Group Ltd. acquired a new stake in shares of Aramark in the second quarter worth $319,000. Finally, Millennium Management LLC increased its stake in shares of Aramark by 822.3% in the second quarter. Millennium Management LLC now owns 1,677,629 shares of the company’s stock worth $57,073,000 after acquiring an additional 1,495,737 shares during the period.

Aramark Company Profile

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.