StockNews.com Upgrades Aramark (NYSE:ARMK) to “Buy”

Aramark (NYSE:ARMK) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Monday.

ARMK has been the topic of a number of other reports. Royal Bank of Canada upgraded Aramark from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $36.00 to $42.50 in a report on Tuesday, September 17th. Truist Financial boosted their price objective on Aramark from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. The Goldman Sachs Group raised their target price on shares of Aramark from $38.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price target on shares of Aramark from $41.00 to $45.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. Finally, Stifel Nicolaus raised their price objective on shares of Aramark from $43.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.59.

Aramark Price Performance

NYSE ARMK traded down $0.18 on Monday, reaching $37.25. The company’s stock had a trading volume of 1,241,852 shares, compared to its average volume of 2,190,828. Aramark has a twelve month low of $27.47 and a twelve month high of $42.49. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.72 and a current ratio of 0.81. The firm’s 50 day moving average is $39.06 and its two-hundred day moving average is $36.82. The stock has a market cap of $9.87 billion, a PE ratio of 37.63 and a beta of 1.63.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC increased its stake in shares of Aramark by 6.0% during 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 during the last quarter. Massachusetts Financial Services Co. MA increased its position in Aramark by 70.0% during the third 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. raised its holdings in Aramark by 7.2% during the third quarter. Franklin Resources Inc. now owns 6,570,938 shares of the company’s stock valued at $254,427,000 after buying an additional 441,711 shares in the last quarter. Dimensional Fund Advisors LP lifted its position 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 buying an additional 720,738 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Aramark by 1.1% during the 3rd 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 in 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.