Aramark (NYSE:ARMK) Price Target Raised to $46.00

Aramark (NYSE:ARMK) had its price objective increased by analysts at Truist Financial from $42.00 to $46.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price target would indicate a potential upside of 20.83% from the company’s current price.

A number of other equities research analysts have also issued reports on the company. Deutsche Bank Aktiengesellschaft raised Aramark from a “hold” rating to a “buy” rating and increased their price target for the company from $36.00 to $39.00 in a research report on Wednesday, August 7th. Bank of America boosted their price target on shares of Aramark from $36.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Royal Bank of Canada upgraded shares of Aramark from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $36.00 to $42.50 in a report on Tuesday, September 17th. UBS Group boosted their target price on shares of Aramark from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, Robert W. Baird lifted their price target on Aramark from $38.00 to $44.00 and gave the stock a “neutral” rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $41.95.

Aramark Stock Down 1.6 %

Shares of ARMK traded down $0.61 during mid-day trading on Tuesday, hitting $38.07. 633,451 shares of the company’s stock were exchanged, compared to its average volume of 2,213,254. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.86 and a current ratio of 0.96. The company has a market cap of $10.03 billion, a price-to-earnings ratio of 38.40 and a beta of 1.62. The stock’s 50-day moving average is $38.15 and its 200-day moving average is $35.10. Aramark has a fifty-two week low of $25.92 and a fifty-two week high of $42.04.

Aramark (NYSE:ARMK) last posted its quarterly earnings results on Monday, November 11th. The company reported $0.54 EPS for the quarter, hitting the consensus estimate of $0.54. The business had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.46 billion. Aramark had a net margin of 1.93% and a return on equity of 14.09%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.64 earnings per share. On average, sell-side analysts anticipate that Aramark will post 1.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Aramark

Several hedge funds have recently made changes to their positions in the business. Capital International Investors lifted its position in Aramark by 0.4% during the 1st quarter. Capital International Investors now owns 23,712,814 shares of the company’s stock worth $771,141,000 after acquiring an additional 98,506 shares during the period. Farallon Capital Management LLC increased its stake in Aramark by 5.5% in the 1st quarter. Farallon Capital Management LLC now owns 17,822,937 shares of the company’s stock valued at $579,602,000 after buying an additional 923,683 shares during the period. Janus Henderson Group PLC raised its position in Aramark by 5.4% during the 1st quarter. Janus Henderson Group PLC now owns 13,391,832 shares of the company’s stock worth $435,501,000 after buying an additional 681,735 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Aramark by 70.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,329,917 shares of the company’s stock worth $322,618,000 after acquiring an additional 3,430,131 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Aramark by 18.0% in the second quarter. Dimensional Fund Advisors LP now owns 4,731,963 shares of the company’s stock valued at $160,977,000 after acquiring an additional 720,738 shares in the last quarter.

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.