Aramark (NYSE:ARMK) Receives $42.59 Average Price Target from Analysts

Shares of Aramark (NYSE:ARMK) have been assigned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $42.59.

ARMK has been the topic of several recent research reports. StockNews.com lowered shares of Aramark from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. The Goldman Sachs Group increased their price target on Aramark from $38.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Truist Financial boosted their price objective on 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 company an “overweight” rating in a research report on Tuesday, November 12th. Finally, Robert W. Baird upped their price objective on Aramark from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th.

Institutional Investors Weigh In On Aramark

Institutional investors have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its position in shares of Aramark by 70.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 8,329,917 shares of the company’s stock valued at $322,618,000 after acquiring an additional 3,430,131 shares in the last quarter. Millennium Management LLC boosted its stake in Aramark by 822.3% during the 2nd 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 last quarter. Janus Henderson Group PLC grew its holdings in shares of Aramark by 6.0% during the third quarter. Janus Henderson Group PLC now owns 15,714,443 shares of the company’s stock worth $608,619,000 after buying an additional 896,288 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Aramark by 18.0% in the second 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 in the last quarter. Finally, Point72 Europe London LLP acquired a new position in Aramark during the third quarter worth about $18,105,000.

Aramark Stock Performance

Shares of ARMK stock opened at $37.77 on Thursday. The business has a fifty day moving average of $38.82 and a 200 day moving average of $37.05. Aramark has a 1 year low of $28.30 and a 1 year high of $42.49. 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 capitalization of $10.00 billion, a price-to-earnings ratio of 38.15 and a beta of 1.64.

Aramark (NYSE:ARMK) last announced its quarterly earnings data on Monday, November 11th. The company reported $0.54 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.54. Aramark had a return on equity of 14.06% and a net margin of 1.51%. The firm had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.46 billion. During the same period last year, the business posted $0.64 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, research analysts expect that Aramark will post 1.92 earnings per share for the current year.

Aramark Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Monday, December 2nd were given a dividend of $0.001 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.00 annualized dividend and a dividend yield of 0.01%. Aramark’s dividend payout ratio (DPR) is presently 42.42%.

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.