Aramark (NYSE:ARMK) PT Raised to $42.00

Aramark (NYSE:ARMK) had its price objective hoisted by Truist Financial from $37.00 to $42.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts have also commented on ARMK. Oppenheimer boosted their price objective on Aramark from $36.00 to $39.00 and gave the stock an outperform rating in a report on Wednesday, June 12th. Deutsche Bank Aktiengesellschaft raised shares of Aramark from a hold rating to a buy rating and lifted their price objective for the stock from $36.00 to $39.00 in a report on Wednesday, August 7th. JPMorgan Chase & Co. increased their target price on Aramark from $39.00 to $41.00 and gave the company an overweight rating in a research note on Monday, September 9th. Royal Bank of Canada upped their price objective on Aramark from $33.00 to $36.00 and gave the stock a sector perform rating in a report on Wednesday, August 7th. Finally, Morgan Stanley boosted their target price on Aramark from $35.00 to $38.00 and gave the stock an equal weight rating in a research report on Monday, September 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $36.89.

Aramark Price Performance

ARMK stock opened at $38.21 on Thursday. The firm has a 50 day moving average of $34.89 and a 200-day moving average of $33.19. The firm has a market capitalization of $10.07 billion, a P/E ratio of 16.05, a price-to-earnings-growth ratio of 2.04 and a beta of 1.62. Aramark has a 12 month low of $23.95 and a 12 month high of $38.54. The company has a current ratio of 0.96, a quick ratio of 0.86 and a debt-to-equity ratio of 1.71.

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

Aramark Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th were given a $0.095 dividend. The ex-dividend date was Monday, August 19th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 0.99%. Aramark’s dividend payout ratio is currently 15.97%.

Institutional Trading of Aramark

Institutional investors and hedge funds have recently bought and sold shares of the stock. Souders Financial Advisors lifted its position in Aramark by 2.9% during the 2nd quarter. Souders Financial Advisors now owns 105,732 shares of the company’s stock valued at $3,597,000 after acquiring an additional 2,949 shares during the period. Truist Financial Corp lifted its holdings in shares of Aramark by 20.1% during the second quarter. Truist Financial Corp now owns 8,961 shares of the company’s stock valued at $305,000 after purchasing an additional 1,497 shares during the last quarter. Algert Global LLC bought a new stake in shares of Aramark in the 2nd quarter worth approximately $854,000. Susquehanna International Group Ltd. purchased a new stake in shares of Aramark in the 2nd quarter worth approximately $319,000. Finally, Millennium Management LLC increased its position in Aramark by 822.3% during the 2nd quarter. Millennium Management LLC now owns 1,677,629 shares of the company’s stock valued at $57,073,000 after buying an additional 1,495,737 shares in 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.