Aramark’s (ARMK) Outperform Rating Reaffirmed at Royal Bank of Canada

Aramark (NYSE:ARMK)‘s stock had its “outperform” rating restated by equities researchers at Royal Bank of Canada in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $47.00 target price on the stock. Royal Bank of Canada’s price objective points to a potential upside of 23.47% from the company’s current price.

Other research analysts have also issued reports about the company. The Goldman Sachs Group upped their price target on Aramark from $38.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Stifel Nicolaus raised their price target on shares of Aramark from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. StockNews.com lowered shares of Aramark from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Robert W. Baird lifted their target price on shares of Aramark from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Finally, Truist Financial upped their price target on shares of Aramark from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Three 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Aramark Price Performance

Shares of NYSE:ARMK opened at $38.07 on Thursday. 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 company has a market capitalization of $10.08 billion, a PE ratio of 38.45 and a beta of 1.64. The stock has a fifty day moving average of $38.61 and a 200-day moving average of $37.70. Aramark has a one year low of $28.51 and a one year high of $42.49.

Aramark (NYSE:ARMK) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. The business had revenue of $4.55 billion during the quarter, compared to analyst estimates of $4.61 billion. Aramark had a return on equity of 14.06% and a net margin of 1.51%. Aramark’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the company posted $0.41 EPS. As a group, equities analysts anticipate that Aramark will post 1.93 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Huntington National Bank lifted its position in Aramark by 100.3% during the 3rd quarter. Huntington National Bank now owns 681 shares of the company’s stock worth $26,000 after acquiring an additional 341 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in Aramark during the 3rd quarter valued at approximately $28,000. UMB Bank n.a. grew its holdings in Aramark by 360.1% in the 3rd quarter. UMB Bank n.a. now owns 773 shares of the company’s stock valued at $30,000 after buying an additional 605 shares during the last quarter. Jones Financial Companies Lllp increased its position in Aramark by 45.7% in the 4th quarter. Jones Financial Companies Lllp now owns 988 shares of the company’s stock worth $37,000 after buying an additional 310 shares during the period. Finally, Friedenthal Financial bought a new stake in shares of Aramark in the third quarter valued at approximately $52,000.

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.