JPMorgan Chase & Co. Issues Positive Forecast for Aramark (NYSE:ARMK) Stock Price

Aramark (NYSE:ARMK) had its target price raised by JPMorgan Chase & Co. from $41.00 to $45.00 in a research report sent to investors on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other analysts also recently issued reports on the stock. StockNews.com raised shares of Aramark from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Truist Financial upped their price target on Aramark from $37.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Deutsche Bank Aktiengesellschaft upgraded Aramark from a “hold” rating to a “buy” rating and boosted their price objective for the company from $36.00 to $39.00 in a research report on Wednesday, August 7th. Robert W. Baird increased their target price on Aramark from $38.00 to $44.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, The Goldman Sachs Group boosted their price target on shares of Aramark from $38.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.23.

Aramark Price Performance

Shares of ARMK opened at $38.03 on Tuesday. The business’s 50-day moving average is $38.15 and its two-hundred day moving average is $35.10. The company has a market capitalization of $10.02 billion, a P/E ratio of 38.41 and a beta of 1.62. Aramark has a fifty-two week low of $25.92 and a fifty-two week high of $42.04. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.86 and a current ratio of 0.96.

Aramark (NYSE:ARMK) last posted its earnings results on Monday, November 11th. The company reported $0.54 EPS for the quarter, hitting the consensus estimate of $0.54. Aramark had a return on equity of 14.09% and a net margin of 1.93%. The firm had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same period last year, the company earned $0.64 earnings per share. Aramark’s revenue for the quarter was up 5.2% compared to the same quarter last year. Research analysts predict that Aramark will post 1.55 earnings per share for the current year.

Aramark Cuts Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ARMK. Blue Trust Inc. boosted its stake in Aramark by 173.9% during the third quarter. Blue Trust Inc. now owns 5,697 shares of the company’s stock worth $221,000 after buying an additional 3,617 shares during the last quarter. Leeward Investments LLC MA purchased a new stake in shares of Aramark in the second quarter valued at about $9,263,000. Public Employees Retirement Association of Colorado increased its position in Aramark by 19.1% during the first quarter. Public Employees Retirement Association of Colorado now owns 810,174 shares of the company’s stock worth $26,347,000 after purchasing an additional 129,939 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in Aramark by 63.6% during the third quarter. Asset Management One Co. Ltd. now owns 140,432 shares of the company’s stock worth $5,439,000 after purchasing an additional 54,580 shares during the period. Finally, Comerica Bank boosted its holdings in Aramark by 14.9% in the 1st quarter. Comerica Bank now owns 126,658 shares of the company’s stock valued at $4,119,000 after purchasing an additional 16,423 shares during the last quarter.

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.