Aramark (NYSE:ARMK) Price Target Raised to $46.00

Aramark (NYSE:ARMK) had its price target upped by Truist Financial from $42.00 to $46.00 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

ARMK has been the topic of several other research reports. Royal Bank of Canada upgraded shares of Aramark from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $36.00 to $42.50 in a report on Tuesday, September 17th. StockNews.com upgraded shares of Aramark from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Morgan Stanley upped their price objective on shares of Aramark from $38.00 to $40.00 and gave the stock an “equal weight” rating in a report on Tuesday. The Goldman Sachs Group increased their target price 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, Bank of America increased their target price on shares of Aramark from $36.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Aramark presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.23.

Aramark Trading Down 0.8 %

Shares of NYSE:ARMK traded down $0.31 during trading on Tuesday, reaching $38.37. The stock had a trading volume of 54,298 shares, compared to its average volume of 2,215,129. The firm’s fifty day moving average is $38.24 and its 200 day moving average is $35.17. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.86 and a current ratio of 0.81. Aramark has a 52 week low of $26.58 and a 52 week high of $42.04. The stock has a market cap of $10.11 billion, a price-to-earnings ratio of 39.08 and a beta of 1.62.

Aramark (NYSE:ARMK) last issued its earnings results on Monday, November 11th. The company reported $0.54 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.54. The business had revenue of $4.42 billion for 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%. Aramark’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 earnings per share. As a group, equities analysts forecast that Aramark will post 1.92 EPS for the current fiscal year.

Aramark Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Monday, December 2nd will be issued a $0.001 dividend. 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 (DPR) is currently 38.38%.

Institutional Trading of Aramark

A number of hedge funds have recently modified their holdings of ARMK. Massachusetts Financial Services Co. MA boosted its holdings in shares of Aramark by 70.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,329,917 shares of the company’s stock valued at $322,618,000 after buying an additional 3,430,131 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Aramark by 822.3% during the 2nd quarter. Millennium Management LLC now owns 1,677,629 shares of the company’s stock valued at $57,073,000 after buying an additional 1,495,737 shares in the last quarter. Farallon Capital Management LLC boosted its holdings in shares of Aramark by 5.5% during the 1st quarter. Farallon Capital Management LLC now owns 17,822,937 shares of the company’s stock valued at $579,602,000 after buying an additional 923,683 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Aramark by 18.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,731,963 shares of the company’s stock valued at $160,977,000 after buying an additional 720,738 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in Aramark by 5.4% in the 1st quarter. Janus Henderson Group PLC now owns 13,391,832 shares of the company’s stock worth $435,501,000 after purchasing an additional 681,735 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.