Aramark (NYSE:ARMK) Price Target Raised to $45.00

Aramark (NYSE:ARMK) had its price target upped by Stifel Nicolaus from $43.00 to $45.00 in a report issued on Tuesday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Other equities analysts also recently issued research reports about the company. Royal Bank of Canada raised Aramark from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $36.00 to $42.50 in a research report on Tuesday, September 17th. Bank of America lifted their target price on Aramark from $36.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. UBS Group boosted their target price on Aramark from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group boosted their target price on Aramark from $38.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Truist Financial upped their price target on Aramark from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Aramark currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.23.

Aramark Stock Down 0.8 %

ARMK traded down $0.31 during mid-day trading on Tuesday, reaching $38.37. 54,298 shares of the stock were exchanged, compared to its average volume of 2,215,129. The company has a 50 day moving average price of $38.24 and a two-hundred day moving average price of $35.17. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.86 and a current ratio of 0.81. The stock has a market capitalization of $10.11 billion, a PE ratio of 39.08 and a beta of 1.62. Aramark has a 1 year low of $26.58 and a 1 year high of $42.04.

Aramark (NYSE:ARMK) last released its quarterly earnings data on Monday, November 11th. The company reported $0.54 earnings per share 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 during the quarter, compared to analyst estimates of $4.46 billion. During the same quarter in the prior year, the firm posted $0.64 earnings per share. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, research analysts anticipate that Aramark will post 1.92 EPS for the current year.

Aramark Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Monday, December 2nd will be paid a $0.001 dividend. This represents a $0.00 annualized dividend and a dividend yield of 0.01%. The ex-dividend date of this dividend is Monday, December 2nd. Aramark’s dividend payout ratio (DPR) is presently 38.38%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Huntington National Bank raised its holdings in shares of Aramark by 100.3% in the third quarter. Huntington National Bank now owns 681 shares of the company’s stock valued at $26,000 after acquiring an additional 341 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Aramark during the 3rd quarter worth approximately $28,000. UMB Bank n.a. raised its stake in shares of Aramark by 360.1% during the 3rd quarter. UMB Bank n.a. now owns 773 shares of the company’s stock worth $30,000 after buying an additional 605 shares during the period. Friedenthal Financial acquired a new position in Aramark in the 3rd quarter valued at $52,000. Finally, Twin Tree Management LP increased its stake in shares of Aramark by 32.0% in the 1st quarter. Twin Tree Management LP now owns 1,424 shares of the company’s stock worth $46,000 after acquiring an additional 345 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.