Aramark (NYSE:ARMK) Downgraded to Sell at StockNews.com

StockNews.com cut shares of Aramark (NYSE:ARMK) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning.

A number of other analysts have also issued reports on ARMK. Robert W. Baird boosted their price target on Aramark from $37.00 to $38.00 and gave the company a neutral rating in a report on Wednesday, August 7th. Truist Financial upped their target price on Aramark from $37.00 to $42.00 and gave the stock a buy rating in a report on Thursday, September 12th. Bank of America upped their target price on Aramark from $36.00 to $39.00 and gave the stock a buy rating in a report on Wednesday, August 7th. Royal Bank of Canada upgraded Aramark from a sector perform rating to an outperform rating and upped their target price for the stock from $36.00 to $42.50 in a report on Tuesday, September 17th. Finally, Morgan Stanley upped their target price on Aramark from $35.00 to $38.00 and gave the stock an equal weight rating in a report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $38.00.

Aramark Stock Up 0.9 %

Shares of NYSE ARMK opened at $37.60 on Tuesday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.86 and a current ratio of 0.96. The firm has a market capitalization of $9.89 billion, a price-to-earnings ratio of 15.80 and a beta of 1.62. The stock has a 50 day moving average price of $36.49 and a 200 day moving average price of $33.98. Aramark has a 52-week low of $24.46 and a 52-week high of $38.99.

Aramark (NYSE:ARMK) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. The firm had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.31 billion. Aramark had a return on equity of 14.09% and a net margin of 1.93%. Aramark’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.36 earnings per share. Sell-side analysts expect that Aramark will post 1.56 earnings per share for the current year.

Aramark Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 19th were given a $0.095 dividend. This represents a $0.38 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend was Monday, August 19th. Aramark’s payout ratio is 15.97%.

Hedge Funds Weigh In On Aramark

Hedge funds have recently made changes to their positions in the company. Rise Advisors LLC acquired a new position in shares of Aramark in the 1st quarter valued at $25,000. Scarborough Advisors LLC acquired a new position in shares of Aramark in the 4th quarter valued at about $34,000. Twin Tree Management LP boosted its stake in shares of Aramark by 32.0% in the first quarter. Twin Tree Management LP now owns 1,424 shares of the company’s stock worth $46,000 after buying an additional 345 shares during the last quarter. GAMMA Investing LLC grew its holdings in Aramark by 319.3% during the second quarter. GAMMA Investing LLC now owns 1,677 shares of the company’s stock worth $57,000 after acquiring an additional 1,277 shares during the period. Finally, Versant Capital Management Inc raised its position in Aramark by 44,750.0% during the second quarter. Versant Capital Management Inc now owns 1,794 shares of the company’s stock valued at $61,000 after acquiring an additional 1,790 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.