Aramark (NYSE:ARMK) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Aramark (NYSE:ARMK) from a sell rating to a hold rating in a research note published on Saturday.

A number of other equities research analysts have also issued reports on the stock. Robert W. Baird upped their target price on shares of Aramark from $37.00 to $38.00 and gave the stock a neutral rating in a report on Wednesday, August 7th. Truist Financial increased their price objective on shares of Aramark from $37.00 to $42.00 and gave the company a buy rating in a report on Thursday, September 12th. Bank of America upped their price target on Aramark from $36.00 to $39.00 and gave the company a buy rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft upgraded Aramark from a hold rating to a buy rating and lifted their price objective for the stock from $36.00 to $39.00 in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. upped their target price on Aramark from $39.00 to $41.00 and gave the company an overweight rating in a report on Monday, September 9th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $37.36.

Aramark Stock Down 3.0 %

ARMK stock opened at $37.75 on Friday. The stock has a market capitalization of $9.93 billion, a P/E ratio of 15.86, a P/E/G ratio of 2.04 and a beta of 1.62. Aramark has a 52 week low of $23.95 and a 52 week high of $38.99. The firm has a 50-day simple moving average of $35.43 and a 200-day simple moving average of $33.44. The company has a quick ratio of 0.86, a current ratio of 0.96 and a debt-to-equity ratio of 1.71.

Aramark (NYSE:ARMK) last announced its earnings results on Tuesday, August 6th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. Aramark had a return on equity of 14.09% and a net margin of 1.93%. The business had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.31 billion. During the same quarter in the prior year, the firm earned $0.36 earnings per share. The business’s revenue was up 8.0% compared to the same quarter last year. Equities analysts forecast that Aramark will post 1.57 earnings per share for the current fiscal year.

Aramark Announces Dividend

The business also recently announced 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 yield of 1.01%. Aramark’s dividend payout ratio (DPR) is presently 15.97%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Souders Financial Advisors boosted its holdings in Aramark by 2.9% during the 2nd quarter. Souders Financial Advisors now owns 105,732 shares of the company’s stock valued at $3,597,000 after acquiring an additional 2,949 shares during the period. Truist Financial Corp boosted its stake in shares of Aramark by 20.1% in the second quarter. Truist Financial Corp now owns 8,961 shares of the company’s stock valued at $305,000 after purchasing an additional 1,497 shares during the period. Algert Global LLC acquired a new position in shares of Aramark in the second quarter valued at approximately $854,000. Susquehanna International Group Ltd. purchased a new stake in Aramark during the 2nd quarter worth approximately $319,000. Finally, Millennium Management LLC lifted its holdings in Aramark by 822.3% during the 2nd quarter. Millennium Management LLC now owns 1,677,629 shares of the company’s stock worth $57,073,000 after buying an additional 1,495,737 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.