Analysts Set Aramark (NYSE:ARMK) Price Target at $42.23

Shares of Aramark (NYSE:ARMK) have been given a consensus recommendation of “Moderate Buy” by the eleven research firms that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $42.23.

A number of brokerages have recently issued reports on ARMK. Robert W. Baird upped their target price on shares of Aramark from $38.00 to $44.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Royal Bank of Canada upgraded shares of Aramark from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $36.00 to $42.50 in a research note on Tuesday, September 17th. Stifel Nicolaus upped their price target on shares of Aramark from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. UBS Group raised their price objective on shares of Aramark from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, Truist Financial increased their target price on Aramark from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th.

Aramark Stock Up 1.1 %

ARMK stock opened at $40.86 on Wednesday. The business has a 50-day moving average of $38.39 and a 200-day moving average of $35.53. Aramark has a fifty-two week low of $26.58 and a fifty-two week high of $42.04. The stock has a market capitalization of $10.78 billion, a P/E ratio of 41.27 and a beta of 1.62. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.81 and a quick ratio of 0.72.

Aramark (NYSE:ARMK) last announced its quarterly earnings data on Monday, November 11th. The company reported $0.54 earnings per share for the quarter, meeting the consensus estimate of $0.54. Aramark had a return on equity of 14.06% and a net margin of 1.51%. The company had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.46 billion. During the same quarter last year, the company earned $0.64 EPS. Aramark’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Aramark will post 1.92 earnings per share for the current fiscal year.

Aramark Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Monday, December 2nd will be given a dividend of $0.001 per share. This represents a $0.00 annualized dividend and a yield of 0.01%. The ex-dividend date of this dividend is Monday, December 2nd. Aramark’s dividend payout ratio is currently 38.38%.

Institutional Trading of Aramark

Institutional investors have recently added to or reduced their stakes in the stock. Capital International Investors grew its stake in Aramark by 0.4% during the first quarter. Capital International Investors now owns 23,712,814 shares of the company’s stock worth $771,141,000 after purchasing an additional 98,506 shares during the period. Farallon Capital Management LLC lifted its position in Aramark by 5.5% in the 1st quarter. Farallon Capital Management LLC now owns 17,822,937 shares of the company’s stock valued at $579,602,000 after acquiring an additional 923,683 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Aramark by 6.0% during the 3rd quarter. Janus Henderson Group PLC now owns 15,714,443 shares of the company’s stock valued at $608,619,000 after purchasing an additional 896,288 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Aramark by 70.0% during 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. Finally, Dimensional Fund Advisors LP raised its stake in shares of Aramark by 18.0% in the second 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 during the last quarter.

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.