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

Shares of Aramark (NYSE:ARMK - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $41.80 and last traded at $41.80, with a volume of 17859 shares trading hands. The stock had previously closed at $39.11.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Morgan Stanley upped their price target on Aramark from $35.00 to $38.00 and gave the stock an "equal weight" rating in a report on Monday, September 9th. Bank of America lifted their price objective on shares of Aramark from $36.00 to $39.00 and gave the stock a "buy" rating in a research report on Wednesday, August 7th. Royal Bank of Canada raised shares of Aramark from a "sector perform" rating to an "outperform" rating and increased their target price for the company from $36.00 to $42.50 in a research report on Tuesday, September 17th. StockNews.com raised shares of Aramark from a "sell" rating to a "hold" rating in a report on Tuesday, October 29th. Finally, Truist Financial increased their price objective on Aramark from $37.00 to $42.00 and gave the company a "buy" rating in a report on Thursday, September 12th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $40.35.

Aramark Trading Down 1.1 %

The stock's 50 day moving average is $38.11 and its 200-day moving average is $35.06. The company has a market cap of $10.19 billion, a P/E ratio of 29.53 and a beta of 1.62. The company has a current ratio of 0.96, a quick ratio of 0.86 and a debt-to-equity ratio of 1.71.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Huntington National Bank raised its holdings in Aramark by 100.3% during 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 during the period. Capital Performance Advisors LLP bought a new stake in Aramark during the 3rd quarter valued at approximately $28,000. UMB Bank n.a. lifted its holdings in Aramark by 360.1% in the 3rd quarter. UMB Bank n.a. now owns 773 shares of the company's stock worth $30,000 after purchasing an additional 605 shares in the last quarter. Twin Tree Management LP boosted its stake in 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 purchasing an additional 345 shares during the period. Finally, Friedenthal Financial purchased a new stake in Aramark during the 3rd quarter valued at approximately $52,000.

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.