Royal Bank of Canada Reiterates “Outperform” Rating for Aramark (NYSE:ARMK)

Aramark (NYSE:ARMK)‘s stock had its “outperform” rating reiterated by investment analysts at Royal Bank of Canada in a research report issued on Thursday,Benzinga reports. They presently have a $47.00 price objective on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 23.47% from the stock’s current price.

A number of other research firms also recently commented on ARMK. Truist Financial increased their price objective on shares of Aramark from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Morgan Stanley increased their price target on shares of Aramark from $40.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Robert W. Baird boosted their price objective on Aramark from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Stifel Nicolaus increased their target price on Aramark from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, StockNews.com downgraded Aramark from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Aramark currently has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Aramark Stock Up 0.5 %

NYSE:ARMK traded up $0.20 on Thursday, reaching $38.07. The stock had a trading volume of 423,017 shares, compared to its average volume of 1,936,875. Aramark has a 12-month low of $28.51 and a 12-month high of $42.49. The stock has a market cap of $10.08 billion, a P/E ratio of 38.45 and a beta of 1.64. The company has a current ratio of 0.81, a quick ratio of 0.72 and a debt-to-equity ratio of 1.42. The company has a 50-day moving average of $38.67 and a 200 day moving average of $37.70.

Aramark (NYSE:ARMK) last issued its quarterly earnings data 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. Aramark had a return on equity of 14.06% and a net margin of 1.51%. The firm had revenue of $4.55 billion during the quarter, compared to analyst estimates of $4.61 billion. During the same quarter last year, the firm earned $0.41 EPS. Aramark’s quarterly revenue was up 3.3% on a year-over-year basis. On average, research analysts predict that Aramark will post 1.93 earnings per share for the current year.

Institutional Trading of Aramark

Several large investors have recently added to or reduced their stakes in the business. CIBC Asset Management Inc lifted its holdings in Aramark by 3.6% in the 3rd quarter. CIBC Asset Management Inc now owns 7,621 shares of the company’s stock valued at $295,000 after acquiring an additional 265 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Aramark by 0.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 53,654 shares of the company’s stock valued at $2,002,000 after buying an additional 276 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Aramark by 45.7% in the fourth quarter. Jones Financial Companies Lllp now owns 988 shares of the company’s stock worth $37,000 after acquiring an additional 310 shares in the last quarter. Huntington National Bank raised its stake in Aramark by 100.3% during the 3rd quarter. Huntington National Bank now owns 681 shares of the company’s stock valued at $26,000 after purchasing an additional 341 shares during the period. Finally, Cadent Capital Advisors LLC boosted its position in shares of Aramark by 4.7% in the third quarter. Cadent Capital Advisors LLC now owns 7,711 shares of the company’s stock worth $299,000 after buying an additional 349 shares during the period.

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.