Aramark (NYSE:ARMK) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Aramark (NYSE:ARMK) had its price objective raised by Morgan Stanley from $40.00 to $43.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other equities research analysts also recently weighed in on the company. StockNews.com upgraded Aramark from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. 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 report on Tuesday, November 12th. Robert W. Baird raised their price target on shares of Aramark from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday. The Goldman Sachs Group upped their price objective on shares of Aramark from $38.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, UBS Group increased 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. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Aramark has a consensus rating of “Moderate Buy” and a consensus target price of $42.59.

Aramark Stock Down 0.6 %

Aramark stock opened at $40.17 on Thursday. The firm has a 50 day moving average price of $39.22 and a two-hundred day moving average price of $36.39. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.72 and a current ratio of 0.81. Aramark has a 52-week low of $27.05 and a 52-week high of $42.49. The firm has a market cap of $10.60 billion, a price-to-earnings ratio of 40.58 and a beta of 1.63.

Aramark (NYSE:ARMK) last released its earnings results on Monday, November 11th. The company reported $0.54 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.54. Aramark had a net margin of 1.51% and a return on equity of 14.06%. The business had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same quarter in the previous year, the business earned $0.64 earnings per share. Aramark’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities analysts predict that Aramark will post 1.92 EPS for the current year.

Aramark Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Monday, December 2nd were paid a $0.001 dividend. This represents a $0.00 annualized dividend and a dividend yield of 0.01%. The ex-dividend date was Monday, December 2nd. Aramark’s dividend payout ratio (DPR) is presently 42.42%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ARMK. Janus Henderson Group PLC boosted its holdings in Aramark by 6.0% during the third 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 during the last quarter. Massachusetts Financial Services Co. MA boosted its stake 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 buying an additional 3,430,131 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Aramark by 7.2% in the third quarter. Franklin Resources Inc. now owns 6,570,938 shares of the company’s stock valued at $254,427,000 after acquiring an additional 441,711 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Aramark by 18.0% during the second quarter. Dimensional Fund Advisors LP now owns 4,731,963 shares of the company’s stock valued at $160,977,000 after acquiring an additional 720,738 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Aramark by 1.1% during the third quarter. Geode Capital Management LLC now owns 4,363,113 shares of the company’s stock worth $169,028,000 after acquiring an additional 45,384 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.