Aramark (NYSE:ARMK) Sets New 12-Month High at $34.25

Aramark (NYSE:ARMK)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $34.25 and last traded at $33.90, with a volume of 72562 shares traded. The stock had previously closed at $34.02.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ARMK. UBS Group lifted their price target on shares of Aramark from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Robert W. Baird upped their price target on Aramark from $35.00 to $37.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 8th. Oppenheimer boosted their price objective on Aramark from $36.00 to $39.00 and gave the company an “outperform” rating in a research note on Wednesday, June 12th. Finally, Truist Financial raised their price objective on Aramark from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Aramark has an average rating of “Moderate Buy” and a consensus price target of $34.89.

Aramark Price Performance

The stock has a 50 day moving average of $32.66 and a 200-day moving average of $30.99. The stock has a market capitalization of $8.84 billion, a P/E ratio of 14.29, a price-to-earnings-growth ratio of 1.36 and a beta of 1.59. The company has a current ratio of 1.25, a quick ratio of 1.11 and a debt-to-equity ratio of 2.03.

Aramark (NYSE:ARMK) last issued its earnings results on Tuesday, May 7th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. The firm had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.25 billion. Aramark had a net margin of 3.43% and a return on equity of 13.82%. On average, equities research analysts anticipate that Aramark will post 1.57 earnings per share for the current fiscal year.

Aramark Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Monday, May 13th were issued a dividend of $0.095 per share. The ex-dividend date was Friday, May 10th. This represents a $0.38 annualized dividend and a yield of 1.13%. Aramark’s payout ratio is currently 15.97%.

Institutional Trading of Aramark

A number of hedge funds have recently added to or reduced their stakes in ARMK. Rise Advisors LLC purchased a new position in shares of Aramark in the 1st quarter valued at $25,000. Benjamin F. Edwards & Company Inc. bought a new stake in Aramark during the fourth quarter valued at about $28,000. Scarborough Advisors LLC purchased a new position in Aramark in the fourth quarter valued at about $34,000. Twin Tree Management LP raised its holdings in Aramark by 32.0% in the first quarter. Twin Tree Management LP now owns 1,424 shares of the company’s stock worth $46,000 after purchasing an additional 345 shares in the last quarter. Finally, Solstein Capital LLC bought a new stake in shares of Aramark in the 4th quarter valued at about $47,000.

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.