Aramark (NYSE:ARMK) Receives Average Rating of “Moderate Buy” from Brokerages

Aramark (NYSE:ARMK) has earned a consensus rating of “Moderate Buy” from the fourteen brokerages that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $34.89.

Several research firms have recently issued reports on ARMK. UBS Group raised their price target on Aramark from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday. Truist Financial raised their target price on Aramark from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Oppenheimer boosted their target price on Aramark from $36.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 12th. Finally, Robert W. Baird increased their price target on shares of Aramark from $35.00 to $37.00 and gave the company a “neutral” rating in a research report on Wednesday, May 8th.

Hedge Funds Weigh In On Aramark

Several hedge funds have recently made changes to their positions in ARMK. Farallon Capital Management LLC boosted its holdings in Aramark by 5.5% during the first quarter. Farallon Capital Management LLC now owns 17,822,937 shares of the company’s stock worth $579,602,000 after purchasing an additional 923,683 shares during the last quarter. Strategic Wealth Partners Ltd. lifted its position in Aramark by 10.4% during the 1st quarter. Strategic Wealth Partners Ltd. now owns 191,966 shares of the company’s stock worth $6,243,000 after buying an additional 18,154 shares in the last quarter. iA Global Asset Management Inc. boosted its stake in shares of Aramark by 12.9% during the 1st quarter. iA Global Asset Management Inc. now owns 995,279 shares of the company’s stock worth $32,366,000 after buying an additional 113,354 shares during the last quarter. Comerica Bank grew its holdings in shares of 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 acquiring an additional 16,423 shares in the last quarter. Finally, Tidal Investments LLC increased its position in shares of Aramark by 21.5% in the first quarter. Tidal Investments LLC now owns 42,585 shares of the company’s stock valued at $1,385,000 after acquiring an additional 7,549 shares during the last quarter.

Aramark Price Performance

Shares of ARMK stock opened at $33.91 on Friday. The firm has a market cap of $8.92 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 1.35 and a beta of 1.56. Aramark has a 12 month low of $23.95 and a 12 month high of $34.23. The company has a quick ratio of 1.11, a current ratio of 1.25 and a debt-to-equity ratio of 2.03. The stock has a 50-day moving average price of $32.41 and a 200 day moving average price of $30.73.

Aramark (NYSE:ARMK) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.29 earnings per share for the quarter, beating 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 business had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.25 billion. Research analysts expect that Aramark will post 1.57 EPS for the current year.

Aramark Announces Dividend

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

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.