Aramark (NYSE:ARMK) Price Target Raised to $45.00

Aramark (NYSE:ARMK) had its price objective increased by Robert W. Baird from $44.00 to $45.00 in a research report sent to investors on Thursday morning,Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

Other analysts have also issued research reports about the stock. UBS Group lifted their price objective on shares of Aramark from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. StockNews.com raised shares of Aramark from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Morgan Stanley boosted 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, November 12th. Truist Financial raised their target price on Aramark from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, Royal Bank of Canada upgraded Aramark from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $36.00 to $42.50 in a research note on Tuesday, September 17th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.59.

Aramark Stock Down 0.6 %

Shares of NYSE ARMK opened at $40.17 on Thursday. The stock has a fifty day moving average price of $39.22 and a 200 day moving average price of $36.39. The company has a current ratio of 0.81, a quick ratio of 0.72 and a debt-to-equity ratio of 1.42. Aramark has a 12-month low of $27.05 and a 12-month high of $42.49. The company has a market cap of $10.60 billion, a P/E ratio of 40.58 and a beta of 1.63.

Aramark (NYSE:ARMK) last issued its earnings results on Monday, November 11th. The company reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. The company had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.46 billion. Aramark had a return on equity of 14.06% and a net margin of 1.51%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 earnings per share. Research analysts anticipate that Aramark will post 1.92 EPS for the current fiscal year.

Aramark Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Monday, December 2nd were issued a $0.001 dividend. This represents a $0.00 annualized dividend and a yield of 0.01%. The ex-dividend date was Monday, December 2nd. Aramark’s dividend payout ratio is currently 42.42%.

Institutional Investors Weigh In On Aramark

Several institutional investors and hedge funds have recently made changes to their positions in the company. CIBC Asset Management Inc grew its position in shares of Aramark by 3.6% during the 3rd quarter. CIBC Asset Management Inc now owns 7,621 shares of the company’s stock valued at $295,000 after buying an additional 265 shares during the last quarter. Bradley Foster & Sargent Inc. CT boosted its stake in Aramark by 0.4% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 69,987 shares of the company’s stock valued at $2,381,000 after acquiring an additional 310 shares during the period. Huntington National Bank grew its holdings in shares of Aramark by 100.3% during the third quarter. Huntington National Bank now owns 681 shares of the company’s stock valued at $26,000 after purchasing an additional 341 shares during the last quarter. Cadent Capital Advisors LLC raised its position in shares of Aramark by 4.7% during the 3rd quarter. Cadent Capital Advisors LLC now owns 7,711 shares of the company’s stock worth $299,000 after purchasing an additional 349 shares during the period. Finally, HighTower Advisors LLC raised its position in shares of Aramark by 2.5% during the 3rd quarter. HighTower Advisors LLC now owns 16,504 shares of the company’s stock worth $643,000 after purchasing an additional 395 shares during the period.

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.