Brokerages Set Aramark (NYSE:ARMK) Target Price at $37.36

Aramark (NYSE:ARMK) has received an average rating of “Moderate Buy” from the thirteen ratings firms that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $37.69.

ARMK has been the topic of a number of recent research reports. Robert W. Baird upped their target price on Aramark from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. upped their price target on Aramark from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Royal Bank of Canada raised Aramark from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $36.00 to $42.50 in a report on Tuesday, September 17th. Truist Financial upped their price target on Aramark from $37.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Finally, StockNews.com raised Aramark from a “sell” rating to a “hold” rating in a report on Saturday, September 21st.

Aramark Stock Down 1.4 %

Aramark stock opened at $37.29 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 business’s 50-day simple moving average is $36.42 and its two-hundred day simple moving average is $33.93. The company has a market cap of $9.81 billion, a PE ratio of 15.67 and a beta of 1.62. Aramark has a fifty-two week low of $24.46 and a fifty-two week high of $38.99.

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

Aramark Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 19th were issued a $0.095 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.38 annualized dividend and a dividend yield of 1.02%. Aramark’s dividend payout ratio is presently 15.97%.

Institutional Investors Weigh In On Aramark

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Diversified Trust Co acquired a new stake in shares of Aramark in the third quarter valued at approximately $474,000. GAMMA Investing LLC increased its holdings in shares of Aramark by 97.2% in the third quarter. GAMMA Investing LLC now owns 3,307 shares of the company’s stock valued at $128,000 after purchasing an additional 1,630 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in shares of Aramark by 19.4% in the third quarter. Handelsbanken Fonder AB now owns 58,500 shares of the company’s stock valued at $2,266,000 after purchasing an additional 9,500 shares during the last quarter. Souders Financial Advisors grew its position in Aramark by 2.9% in the second quarter. Souders Financial Advisors now owns 105,732 shares of the company’s stock worth $3,597,000 after acquiring an additional 2,949 shares during the period. Finally, Truist Financial Corp grew its position in Aramark by 20.1% in the second quarter. Truist Financial Corp now owns 8,961 shares of the company’s stock worth $305,000 after acquiring an additional 1,497 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.