Analysts Set Aramark (NYSE:ARMK) Price Target at $42.23

Aramark (NYSE:ARMK - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the eleven analysts that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $42.23.

ARMK has been the subject of several analyst reports. Robert W. Baird raised their price target on shares of Aramark from $38.00 to $44.00 and gave the company a "neutral" rating in a report on Tuesday, November 12th. Morgan Stanley upped their target price on Aramark from $38.00 to $40.00 and gave the stock an "equal weight" rating in a research note on Tuesday, November 12th. The Goldman Sachs Group raised their price target on Aramark from $38.00 to $41.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. upped their price objective on shares of Aramark from $41.00 to $45.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 12th. Finally, Truist Financial lifted their target price on shares of Aramark from $42.00 to $46.00 and gave the company a "buy" rating in a research report on Tuesday, November 12th.

Aramark Stock Performance

NYSE:ARMK traded up $0.61 on Wednesday, reaching $38.30. 510,793 shares of the company's stock were exchanged, compared to its average volume of 2,217,096. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.81 and a quick ratio of 0.72. The firm has a market cap of $10.09 billion, a price-to-earnings ratio of 38.76 and a beta of 1.62. Aramark has a 52 week low of $26.58 and a 52 week high of $42.04. The stock has a fifty day simple moving average of $38.27 and a 200-day simple moving average of $35.38.

Aramark (NYSE:ARMK - Get Free Report) last issued its earnings results on Monday, November 11th. The company reported $0.54 earnings per share 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 firm had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.46 billion. During the same quarter last year, the business earned $0.64 earnings per share. The company's quarterly revenue was up 5.2% on a year-over-year basis. As a group, sell-side analysts predict that Aramark will post 1.92 earnings per share for the current year.

Aramark Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.001 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.00 annualized dividend and a yield of 0.01%. Aramark's payout ratio is 38.38%.

Institutional Trading of Aramark

Institutional investors have recently added to or reduced their stakes in the business. Huntington National Bank boosted its stake in shares of 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 purchasing an additional 341 shares during the period. Capital Performance Advisors LLP purchased a new stake in shares of Aramark during the third quarter valued at approximately $28,000. UMB Bank n.a. boosted its stake in shares of Aramark by 360.1% during the third quarter. UMB Bank n.a. now owns 773 shares of the company's stock valued at $30,000 after purchasing an additional 605 shares during the period. Friedenthal Financial purchased a new stake in shares of Aramark during the third quarter valued at approximately $52,000. Finally, GAMMA Investing LLC boosted its stake in shares of Aramark by 319.3% during the second quarter. GAMMA Investing LLC now owns 1,677 shares of the company's stock valued at $57,000 after purchasing an additional 1,277 shares during the period.

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.