Aramark (NYSE:ARMK) Hits New 12-Month High - Time to Buy?

Aramark (NYSE:ARMK - Get Free Report) reached a new 52-week high during trading on Tuesday . The stock traded as high as $42.09 and last traded at $41.99, with a volume of 59922 shares changing hands. The stock had previously closed at $41.86.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ARMK. Stifel Nicolaus boosted their target price on shares of Aramark from $43.00 to $45.00 and gave the stock a "buy" rating in a report on Tuesday, November 12th. Truist Financial upped their target price on shares of Aramark from $42.00 to $46.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. lifted their price target on Aramark from $41.00 to $45.00 and gave the stock an "overweight" rating in a report on Tuesday, November 12th. UBS Group upped their price objective on Aramark from $40.00 to $44.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. Finally, Robert W. Baird lifted their target price on Aramark from $38.00 to $44.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Aramark presently has an average rating of "Moderate Buy" and a consensus price target of $42.23.

Aramark Stock Up 0.9 %

The firm has a 50-day simple moving average of $38.46 and a two-hundred day simple moving average of $35.63. The stock has a market cap of $11.14 billion, a P/E ratio of 42.25 and a beta of 1.62. The company has a current ratio of 0.81, a quick ratio of 0.72 and a debt-to-equity ratio of 1.42.

Aramark (NYSE:ARMK - Get Free Report) last released its quarterly earnings results on Monday, November 11th. The company reported $0.54 EPS for the quarter, hitting analysts' consensus estimates of $0.54. Aramark had a net margin of 1.51% and a return on equity of 14.06%. The business had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same period last year, the firm earned $0.64 earnings per share. Aramark's revenue for the quarter was up 5.2% compared to the same quarter last year. Equities research analysts expect that Aramark will post 1.92 earnings per share for the current fiscal year.

Aramark Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Monday, December 2nd will be issued a $0.001 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.00 annualized dividend and a yield of 0.01%. Aramark's dividend payout ratio is presently 42.42%.

Institutional Investors Weigh In On Aramark

A number of large investors have recently bought and sold shares of ARMK. O Shaughnessy Asset Management LLC acquired a new position in shares of Aramark during the 1st quarter worth $249,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Aramark by 7.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 166,589 shares of the company's stock valued at $5,418,000 after purchasing an additional 11,062 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Aramark by 1.5% in the 1st quarter. Public Employees Retirement System of Ohio now owns 99,563 shares of the company's stock valued at $3,238,000 after purchasing an additional 1,487 shares in the last quarter. Bayesian Capital Management LP acquired a new stake in shares of Aramark in the 1st quarter valued at approximately $592,000. Finally, Tidal Investments LLC grew its holdings in shares of Aramark by 21.5% during the 1st quarter. Tidal Investments LLC now owns 42,585 shares of the company's stock valued at $1,385,000 after purchasing an additional 7,549 shares during 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.