Aramark (NYSE:ARMK) Given Average Rating of “Moderate Buy” by Analysts

by · The Cerbat Gem

Aramark (NYSE:ARMK – Get Free Report) has received a consensus rating of “Moderate Buy” from the eleven brokerages that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $42.59.

A number of analysts have recently commented on the stock. The Goldman Sachs Group lifted their price target on shares of Aramark from $38.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Truist Financial upped their price objective on Aramark from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. UBS Group raised their target price on Aramark from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Morgan Stanley upped their price target on shares of Aramark from $40.00 to $43.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Aramark from $41.00 to $45.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th.

View Our Latest Report on Aramark

Aramark Price Performance

Shares of ARMK opened at $37.62 on Friday. The company has a market capitalization of $9.96 billion, a P/E ratio of 38.00 and a beta of 1.63. Aramark has a twelve month low of $27.47 and a twelve month high of $42.49. The company has a quick ratio of 0.72, a current ratio of 0.81 and a debt-to-equity ratio of 1.42. The firm has a 50 day moving average of $39.27 and a 200 day moving average of $36.61.

Aramark (NYSE:ARMK – Get Free Report) last announced its quarterly earnings results on Monday, November 11th. The company reported $0.54 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.54. Aramark had a return on equity of 14.06% and a net margin of 1.51%. The firm had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.46 billion. During the same period in the prior year, the company posted $0.64 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, equities research analysts anticipate that Aramark will post 1.92 earnings per share for the current fiscal year.

Aramark Cuts Dividend

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

Institutional Trading of Aramark

Institutional investors and hedge funds have recently modified their holdings of the company. Franklin Resources Inc. raised its holdings in Aramark by 7.2% during the third quarter. Franklin Resources Inc. now owns 6,570,938 shares of the company’s stock valued at $254,427,000 after acquiring an additional 441,711 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Aramark during the 3rd quarter valued at approximately $761,000. Sanctuary Advisors LLC bought a new stake in shares of Aramark during the third quarter valued at approximately $309,000. Geode Capital Management LLC lifted its holdings in shares of Aramark by 1.1% in the third quarter. Geode Capital Management LLC now owns 4,363,113 shares of the company’s stock worth $169,028,000 after buying an additional 45,384 shares in the last quarter. Finally, M&T Bank Corp boosted its position in shares of Aramark by 5.5% during the third quarter. M&T Bank Corp now owns 16,206 shares of the company’s stock worth $628,000 after acquiring an additional 838 shares during the last quarter.

About Aramark

(Get Free Report

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.

Featured Stories