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

Aramark (NYSE:ARMK) had its target price raised by Robert W. Baird from $38.00 to $44.00 in a report issued on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other research analysts have also recently issued reports on the company. Royal Bank of Canada raised Aramark from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $36.00 to $42.50 in a research note on Tuesday, September 17th. Bank of America increased their price objective on Aramark from $36.00 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Truist Financial increased their price objective on Aramark from $37.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Deutsche Bank Aktiengesellschaft raised Aramark from a “hold” rating to a “buy” rating and increased their price objective for the stock from $36.00 to $39.00 in a research note on Wednesday, August 7th. Finally, Morgan Stanley increased their price objective on Aramark from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.23.

Aramark Trading Down 3.4 %

Shares of NYSE ARMK opened at $37.36 on Tuesday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.86 and a current ratio of 0.81. The business’s 50 day moving average price is $38.27 and its 200-day moving average price is $35.20. Aramark has a fifty-two week low of $26.58 and a fifty-two week high of $42.04. The company has a market cap of $9.84 billion, a price-to-earnings ratio of 37.74 and a beta of 1.62.

Aramark (NYSE:ARMK) last issued its quarterly earnings results on Monday, November 11th. The company reported $0.54 earnings per share for the quarter, hitting 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 the consensus estimate of $4.46 billion. During the same period in the prior year, the business posted $0.64 earnings per share. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, sell-side analysts expect that Aramark will post 1.92 earnings per share for the current year.

Aramark Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Monday, December 2nd will be given a $0.001 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.00 dividend on an annualized basis and a dividend yield of 0.01%. Aramark’s payout ratio is 38.38%.

Institutional Trading of Aramark

A number of institutional investors have recently made changes to their positions in ARMK. Massachusetts Financial Services Co. MA boosted its position in shares of Aramark by 70.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,329,917 shares of the company’s stock worth $322,618,000 after purchasing an additional 3,430,131 shares in the last quarter. Millennium Management LLC boosted its position in shares of Aramark by 822.3% in the 2nd quarter. Millennium Management LLC now owns 1,677,629 shares of the company’s stock worth $57,073,000 after purchasing an additional 1,495,737 shares in the last quarter. Farallon Capital Management LLC boosted its position in shares of Aramark by 5.5% in the 1st quarter. Farallon Capital Management LLC now owns 17,822,937 shares of the company’s stock worth $579,602,000 after purchasing an additional 923,683 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Aramark by 6.0% in the 3rd quarter. Janus Henderson Group PLC now owns 15,714,443 shares of the company’s stock worth $608,619,000 after purchasing an additional 896,288 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Aramark by 18.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,731,963 shares of the company’s stock worth $160,977,000 after purchasing an additional 720,738 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.