Aramark (NYSE:ARMK) Price Target Raised to $44.00 at UBS Group

Aramark (NYSE:ARMK) had its price target increased by UBS Group from $40.00 to $44.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a buy rating on the stock.

ARMK has been the subject of several other research reports. Robert W. Baird boosted their price objective on shares of Aramark from $37.00 to $38.00 and gave the company a neutral rating in a research note on Wednesday, August 7th. Morgan Stanley upped their price target on shares of 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 Aramark from $36.00 to $39.00 and gave the company a buy rating in a research note on Wednesday, August 7th. Oppenheimer upped their target price on Aramark from $36.00 to $39.00 and gave the stock an outperform rating in a research note on Wednesday, June 12th. Finally, Truist Financial lifted their price target on Aramark from $37.00 to $42.00 and gave the company a buy rating in a research report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $38.95.

Aramark Trading Up 1.6 %

Shares of ARMK stock opened at $38.11 on Tuesday. The stock has a market capitalization of $10.04 billion, a price-to-earnings ratio of 29.09 and a beta of 1.62. The company’s fifty day simple moving average is $36.64 and its two-hundred day simple moving average is $34.03. Aramark has a 1 year low of $25.28 and a 1 year high of $38.99. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.96 and a quick ratio of 0.86.

Aramark (NYSE:ARMK) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. Aramark had a return on equity of 14.09% and a net margin of 1.93%. The company had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same period in the previous year, the company posted $0.36 EPS. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, analysts anticipate that Aramark will post 1.55 earnings per share for the current year.

Aramark Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th were issued a $0.095 dividend. The ex-dividend date was Monday, August 19th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.00%. Aramark’s payout ratio is 29.01%.

Hedge Funds Weigh In On Aramark

Institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC grew its stake in shares of Aramark by 131.8% during the first quarter. SG Americas Securities LLC now owns 97,167 shares of the company’s stock valued at $3,160,000 after buying an additional 55,249 shares during the last quarter. Public Sector Pension Investment Board purchased a new position in Aramark in the 4th quarter worth approximately $75,477,000. Vanguard Group Inc. increased its stake in Aramark by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 25,584,242 shares of the company’s stock worth $718,917,000 after purchasing an additional 139,693 shares during the period. Leeward Investments LLC MA bought a new stake in Aramark in the second quarter valued at approximately $9,263,000. Finally, Perpetual Ltd boosted its stake in shares of Aramark by 3.0% during the first quarter. Perpetual Ltd now owns 1,404,905 shares of the company’s stock valued at $45,041,000 after purchasing an additional 40,520 shares during the period.

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.