Aramark (NYSE:ARMK) Price Target Increased to $40.00 by Analysts at UBS Group

Aramark (NYSE:ARMK) had its target price boosted by UBS Group from $35.00 to $40.00 in a research report released on Friday, Benzinga reports. UBS Group currently has a buy rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Robert W. Baird raised their price objective on shares of Aramark from $35.00 to $37.00 and gave the stock a neutral rating in a research report on Wednesday, May 8th. Oppenheimer increased their target price on shares of 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 increased their target price on shares of Aramark from $35.00 to $37.00 and gave the stock a buy rating in a research note on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $34.89.

Aramark Price Performance

Aramark stock opened at $33.91 on Friday. Aramark has a 12-month low of $23.95 and a 12-month high of $34.23. The stock has a market cap of $8.92 billion, a P/E ratio of 14.25, a PEG ratio of 1.35 and a beta of 1.56. The company has a 50-day moving average price of $32.41 and a 200 day moving average price of $30.71. The company has a current ratio of 1.25, a quick ratio of 1.11 and a debt-to-equity ratio of 2.03.

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

Aramark Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ARMK. Janney Montgomery Scott LLC purchased a new position in Aramark in the third quarter worth approximately $405,000. DekaBank Deutsche Girozentrale lifted its stake in Aramark by 11.8% in the third quarter. DekaBank Deutsche Girozentrale now owns 27,186 shares of the company’s stock worth $938,000 after acquiring an additional 2,878 shares during the last quarter. Korea Investment CORP lifted its stake in Aramark by 1.0% in the third quarter. Korea Investment CORP now owns 53,458 shares of the company’s stock worth $1,855,000 after acquiring an additional 546 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Aramark by 451.3% in the third quarter. Envestnet Asset Management Inc. now owns 107,062 shares of the company’s stock worth $3,715,000 after acquiring an additional 87,641 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Aramark by 82.6% in the third quarter. Invesco Ltd. now owns 961,603 shares of the company’s stock worth $33,368,000 after acquiring an additional 434,842 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.