Aramark (NYSE:ARMK) Reaches New 12-Month High After Analyst Upgrade

Aramark (NYSE:ARMK) reached a new 52-week high on Monday after UBS Group raised their price target on the stock from $35.00 to $40.00. UBS Group currently has a buy rating on the stock. Aramark traded as high as $34.32 and last traded at $34.32, with a volume of 143 shares changing hands. The stock had previously closed at $33.91.

Several other research firms also recently commented on ARMK. Robert W. Baird boosted their price objective on Aramark from $35.00 to $37.00 and gave the company a “neutral” rating in a report on Wednesday, May 8th. Oppenheimer boosted their price target on shares of Aramark from $36.00 to $39.00 and gave the company an “outperform” rating in a research note on Wednesday, June 12th. Finally, Truist Financial raised their price objective on shares of Aramark from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Aramark presently has a consensus rating of “Moderate Buy” and an average target price of $34.89.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ARMK. Janney Montgomery Scott LLC purchased a new stake in Aramark during the third quarter valued at about $405,000. Envestnet Asset Management Inc. boosted its stake in Aramark by 451.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 107,062 shares of the company’s stock worth $3,715,000 after purchasing an additional 87,641 shares during the period. Invesco Ltd. increased its position in shares of Aramark by 82.6% during the third quarter. Invesco Ltd. now owns 961,603 shares of the company’s stock valued at $33,368,000 after buying an additional 434,842 shares during the period. Stifel Financial Corp lifted its holdings in shares of Aramark by 41.3% in the third quarter. Stifel Financial Corp now owns 52,384 shares of the company’s stock worth $1,818,000 after buying an additional 15,301 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Aramark by 0.5% in the third quarter. Northern Trust Corp now owns 2,146,885 shares of the company’s stock valued at $74,497,000 after acquiring an additional 10,570 shares during the period.

Aramark Trading Down 0.6 %

The firm’s 50 day moving average is $32.52 and its 200 day moving average is $30.85. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.25 and a quick ratio of 1.11. The company has a market cap of $8.91 billion, a PE ratio of 14.23, a PEG ratio of 1.36 and a beta of 1.56.

Aramark (NYSE:ARMK) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. The firm had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.25 billion. Aramark had a net margin of 3.43% and a return on equity of 13.82%. On average, equities analysts anticipate that Aramark will post 1.57 earnings per share for the current year.

Aramark Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Monday, May 13th were paid a $0.095 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $0.38 dividend on an annualized basis and a yield of 1.12%. Aramark’s dividend payout ratio is currently 15.97%.

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.