Aramark (NYSE:ARMK) Receives $42.23 Average Price Target from Brokerages

Shares of Aramark (NYSE:ARMK) have been given a consensus rating of “Moderate Buy” by the eleven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $42.23.

ARMK has been the subject of a number of recent analyst reports. UBS Group upped their price objective on Aramark from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Robert W. Baird raised their price objective on shares of Aramark from $38.00 to $44.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Truist Financial boosted their target price on shares of Aramark from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Stifel Nicolaus raised their price target on shares of Aramark from $43.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, The Goldman Sachs Group upped their price objective on Aramark from $38.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th.

Aramark Stock Up 1.1 %

Aramark stock opened at $40.86 on Wednesday. Aramark has a fifty-two week low of $26.58 and a fifty-two week high of $42.04. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.72 and a current ratio of 0.81. The firm’s 50-day simple moving average is $38.34 and its 200 day simple moving average is $35.44. The stock has a market cap of $10.76 billion, a PE ratio of 41.13 and a beta of 1.62.

Aramark (NYSE:ARMK) last announced its earnings results on Monday, November 11th. The company reported $0.54 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.54. The firm had revenue of $4.42 billion for the quarter, compared to the consensus estimate 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 in the previous year, the business earned $0.64 EPS. Research analysts predict that Aramark will post 1.92 EPS for the current fiscal year.

Aramark Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.001 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.00 annualized dividend and a dividend yield of 0.01%. Aramark’s dividend payout ratio is currently 42.42%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Sei Investments Co. lifted its stake in Aramark by 15.2% in the 1st quarter. Sei Investments Co. now owns 93,574 shares of the company’s stock worth $3,043,000 after purchasing an additional 12,342 shares in the last quarter. Covestor Ltd raised its position in shares of Aramark by 179.3% in the first quarter. Covestor Ltd now owns 2,888 shares of the company’s stock worth $94,000 after buying an additional 1,854 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new stake in Aramark during the first quarter valued at $249,000. CANADA LIFE ASSURANCE Co grew its position in Aramark by 3.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 205,714 shares of the company’s stock worth $6,689,000 after buying an additional 6,289 shares in the last quarter. Finally, Capital International Investors increased its stake in Aramark by 0.4% in the 1st quarter. Capital International Investors now owns 23,712,814 shares of the company’s stock worth $771,141,000 after acquiring an additional 98,506 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.