Robert W. Baird Issues Positive Forecast for Aramark (NYSE:ARMK) Stock Price

Aramark (NYSE:ARMK - Free Report) had its price objective increased by Robert W. Baird from $44.00 to $45.00 in a research note published on Thursday,Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

Other research analysts also recently issued reports about the company. JPMorgan Chase & Co. raised their price objective on Aramark from $41.00 to $45.00 and gave the stock an "overweight" rating in a report on Tuesday, November 12th. Truist Financial raised their price target on Aramark from $42.00 to $46.00 and gave the company a "buy" rating in a research note on Tuesday, November 12th. Stifel Nicolaus upped their price objective on shares of Aramark from $43.00 to $45.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th. Royal Bank of Canada upgraded shares of Aramark from a "sector perform" rating to an "outperform" rating and increased their target price for the stock from $36.00 to $42.50 in a report on Tuesday, September 17th. Finally, The Goldman Sachs Group boosted their price target on shares of Aramark from $38.00 to $41.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $42.59.

Aramark Trading Down 0.9 %

ARMK traded down $0.36 during trading hours on Thursday, reaching $40.40. 1,535,871 shares of the company's stock traded hands, compared to its average volume of 2,215,802. The firm has a 50-day moving average price of $39.13 and a 200 day moving average price of $36.27. The firm has a market capitalization of $10.66 billion, a PE ratio of 40.97 and a beta of 1.63. The company has a quick ratio of 0.72, a current ratio of 0.81 and a debt-to-equity ratio of 1.42. Aramark has a 52-week low of $26.58 and a 52-week high of $42.49.

Aramark (NYSE:ARMK - Get Free Report) last released its quarterly earnings data on Monday, November 11th. The company reported $0.54 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.54. The company had revenue of $4.42 billion during the quarter, compared to analysts' expectations of $4.46 billion. Aramark had a net margin of 1.51% and a return on equity of 14.06%. The firm's quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.64 EPS. As a group, sell-side analysts predict that Aramark will post 1.92 EPS for the current fiscal 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 given a $0.001 dividend. The ex-dividend date of this dividend is 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 42.42%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA grew its stake in Aramark by 70.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,329,917 shares of the company's stock valued at $322,618,000 after purchasing an additional 3,430,131 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Aramark by 822.3% during the second quarter. Millennium Management LLC now owns 1,677,629 shares of the company's stock worth $57,073,000 after purchasing an additional 1,495,737 shares during the period. Janus Henderson Group PLC boosted its position in Aramark by 6.0% in the third quarter. Janus Henderson Group PLC now owns 15,714,443 shares of the company's stock valued at $608,619,000 after buying an additional 896,288 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Aramark by 18.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,731,963 shares of the company's stock worth $160,977,000 after buying an additional 720,738 shares during the period. Finally, Point72 Europe London LLP purchased a new position in Aramark during the 3rd quarter worth approximately $18,105,000.

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.