Aramark (NYSE:ARMK) Given New $45.00 Price Target at Robert W. Baird

Aramark (NYSE:ARMK) had its price target upped by Robert W. Baird from $44.00 to $45.00 in a report issued on Thursday,Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

Several other equities research analysts have also commented on the company. UBS Group upped their price target on Aramark from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. StockNews.com upgraded shares of Aramark from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Royal Bank of Canada raised shares of Aramark from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $36.00 to $42.50 in a research note on Tuesday, September 17th. Truist Financial upped their price target on shares of Aramark from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, Morgan Stanley boosted their price objective on Aramark from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $42.59.

Aramark Stock Performance

Shares of ARMK opened at $40.38 on Thursday. The company has a market capitalization of $10.66 billion, a price-to-earnings ratio of 40.79 and a beta of 1.63. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.72 and a current ratio of 0.81. Aramark has a 1 year low of $26.58 and a 1 year high of $42.49. The company’s 50 day simple moving average is $39.17 and its 200 day simple moving average is $36.30.

Aramark (NYSE:ARMK) last issued its quarterly earnings results on Monday, November 11th. The company reported $0.54 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.54. The firm had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.46 billion. Aramark had a return on equity of 14.06% and a net margin of 1.51%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the company earned $0.64 EPS. On average, sell-side analysts predict that Aramark will post 1.92 EPS 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 issued a $0.001 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.00 annualized dividend and a yield of 0.01%. Aramark’s dividend payout ratio is presently 42.42%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its holdings in shares of Aramark by 173.9% in the 3rd quarter. Blue Trust Inc. now owns 5,697 shares of the company’s stock valued at $221,000 after acquiring an additional 3,617 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Aramark by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,732,661 shares of the company’s stock valued at $67,106,000 after purchasing an additional 14,839 shares during the last quarter. Anthracite Investment Company Inc. bought a new position in shares of Aramark in the 3rd quarter worth about $3,524,000. Leeward Investments LLC MA acquired a new position in shares of Aramark in the 2nd quarter valued at about $9,263,000. Finally, Quest Partners LLC grew its position in shares of Aramark by 3,617,700.0% during the 3rd quarter. Quest Partners LLC now owns 36,178 shares of the company’s stock valued at $1,401,000 after buying an additional 36,177 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.