Aramark (NYSE:ARMK) Hits New 1-Year High at $38.61

Aramark (NYSE:ARMK)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $38.61 and last traded at $38.61, with a volume of 5459 shares trading hands. The stock had previously closed at $38.29.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ARMK. UBS Group lifted their price objective on shares of Aramark from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. StockNews.com lowered Aramark from a “hold” rating to a “sell” rating in a research report on Friday, September 13th. JPMorgan Chase & Co. raised their price objective on Aramark from $39.00 to $41.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Bank of America raised their price target on shares of Aramark from $36.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Aramark from a “hold” rating to a “buy” rating and increased their target price for the stock from $36.00 to $39.00 in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Aramark has a consensus rating of “Moderate Buy” and a consensus price target of $37.36.

Aramark Stock Down 1.3 %

The firm has a market cap of $10.01 billion, a P/E ratio of 16.00, a P/E/G ratio of 2.04 and a beta of 1.62. The business’s fifty day moving average price is $35.23 and its two-hundred day moving average price is $33.34. The company has a current ratio of 0.96, a quick ratio of 0.86 and a debt-to-equity ratio of 1.71.

Aramark (NYSE:ARMK) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. The company had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.31 billion. Aramark had a return on equity of 14.09% and a net margin of 1.93%. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.36 earnings per share. As a group, equities research analysts anticipate that Aramark will post 1.57 EPS for the current year.

Aramark Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were issued a dividend of $0.095 per share. The ex-dividend date was Monday, August 19th. This represents a $0.38 annualized dividend and a yield of 1.00%. Aramark’s dividend payout ratio (DPR) is presently 15.97%.

Institutional Trading of Aramark

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC raised its holdings in Aramark by 199.7% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 20,727 shares of the company’s stock worth $582,000 after acquiring an additional 13,812 shares during the period. Quadrant Capital Group LLC increased its stake in shares of Aramark by 44.0% in the fourth quarter. Quadrant Capital Group LLC now owns 2,716 shares of the company’s stock worth $76,000 after purchasing an additional 830 shares during the period. Norges Bank acquired a new position in shares of Aramark during the 4th quarter worth about $68,309,000. Trexquant Investment LP bought a new stake in Aramark during the 4th quarter valued at approximately $5,375,000. Finally, Dai ichi Life Insurance Company Ltd grew its holdings in Aramark by 49.2% in the 4th quarter. Dai ichi Life Insurance Company Ltd now owns 247,440 shares of the company’s stock valued at $6,953,000 after buying an additional 81,540 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.