Aramark (NYSE:ARMK) Receives $42.59 Average Price Target from Analysts

Aramark (NYSE:ARMK) has earned a consensus rating of “Moderate Buy” from the eleven brokerages that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $42.59.

ARMK has been the topic of several analyst reports. Stifel Nicolaus raised their price objective on Aramark from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Truist Financial lifted their price target on Aramark from $42.00 to $46.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. StockNews.com upgraded shares of Aramark from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Robert W. Baird boosted their target price on shares of Aramark from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Finally, The Goldman Sachs Group upped their price objective on Aramark from $38.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th.

Aramark Stock Down 2.2 %

ARMK stock opened at $38.78 on Friday. Aramark has a 12 month low of $27.05 and a 12 month high of $42.49. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.81 and a quick ratio of 0.72. The company has a market cap of $10.24 billion, a price-to-earnings ratio of 39.47 and a beta of 1.63. The company has a fifty day moving average price of $39.27 and a 200 day moving average price of $36.48.

Aramark (NYSE:ARMK) last released its earnings results on Monday, November 11th. The company reported $0.54 EPS for the quarter, hitting the consensus estimate of $0.54. Aramark had a net margin of 1.51% and a return on equity of 14.06%. 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 business earned $0.64 EPS. The business’s revenue was up 5.2% on a year-over-year basis. Sell-side analysts expect that Aramark will post 1.92 earnings per share for the current year.

Aramark Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.001 per share. The ex-dividend date was 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%.

Hedge Funds Weigh In On Aramark

Institutional investors have recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd bought a new stake in shares of Aramark in the third quarter valued at about $716,000. Franklin Resources Inc. grew its position in shares of Aramark by 7.2% during the 3rd quarter. Franklin Resources Inc. now owns 6,570,938 shares of the company’s stock worth $254,427,000 after purchasing an additional 441,711 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Aramark by 1.1% in the third quarter. Geode Capital Management LLC now owns 4,363,113 shares of the company’s stock valued at $169,028,000 after buying an additional 45,384 shares in the last quarter. Blue Trust Inc. grew its position in Aramark by 173.9% during the third quarter. Blue Trust Inc. now owns 5,697 shares of the company’s stock worth $221,000 after buying an additional 3,617 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Aramark by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,732,661 shares of the company’s stock worth $67,106,000 after acquiring an additional 14,839 shares during the period.

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.