Aramark (NYSE:ARMK) Receives $35.82 Average Target Price from Analysts

Shares of Aramark (NYSE:ARMK) have received a consensus recommendation of “Moderate Buy” from the thirteen analysts that are covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $35.82.

Several analysts have issued reports on ARMK shares. UBS Group increased their price objective on shares of Aramark from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, June 21st. Bank of America raised their price target on Aramark from $36.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Oppenheimer raised their price target on Aramark from $36.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, June 12th. Robert W. Baird lifted their target price on Aramark from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft raised Aramark from a “hold” rating to a “buy” rating and lifted their price target for the stock from $36.00 to $39.00 in a research note on Wednesday, August 7th.

Aramark Stock Down 1.9 %

ARMK opened at $36.67 on Friday. The firm has a 50 day moving average price of $34.40 and a 200 day moving average price of $32.92. The company has a market cap of $9.64 billion, a PE ratio of 15.41, a price-to-earnings-growth ratio of 1.96 and a beta of 1.62. Aramark has a 1 year low of $23.95 and a 1 year high of $37.63. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.86 and a current ratio of 0.96.

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

Aramark Dividend Announcement

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 was Monday, August 19th. This represents a $0.38 annualized dividend and a yield of 1.04%. Aramark’s dividend payout ratio (DPR) is currently 15.97%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Souders Financial Advisors raised its stake in shares of Aramark by 2.9% in the second quarter. Souders Financial Advisors now owns 105,732 shares of the company’s stock valued at $3,597,000 after purchasing an additional 2,949 shares in the last quarter. Truist Financial Corp raised its stake in Aramark by 20.1% during the second quarter. Truist Financial Corp now owns 8,961 shares of the company’s stock worth $305,000 after acquiring an additional 1,497 shares in the last quarter. Algert Global LLC bought a new stake in shares of Aramark during the second quarter worth $854,000. Susquehanna International Group Ltd. bought a new stake in shares of Aramark during the second quarter worth $319,000. Finally, Millennium Management LLC grew its holdings in shares of Aramark by 822.3% during the second quarter. Millennium Management LLC now owns 1,677,629 shares of the company’s stock worth $57,073,000 after purchasing an additional 1,495,737 shares during the last quarter.

About Aramark

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.