Morgan Stanley Boosts Aramark (NYSE:ARMK) Price Target to $43.00

Aramark (NYSE:ARMK) had its price objective lifted by equities research analysts at Morgan Stanley from $40.00 to $43.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 7.05% from the company’s previous close.

Other analysts have also issued reports about the stock. The Goldman Sachs Group upped their price target on shares of Aramark from $38.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. StockNews.com upgraded Aramark from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. UBS Group boosted their target price on shares of Aramark from $40.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Stifel Nicolaus boosted their price objective on shares of Aramark from $43.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, Royal Bank of Canada raised shares of Aramark from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $36.00 to $42.50 in a report on Tuesday, September 17th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.59.

Aramark Trading Down 0.6 %

Aramark stock opened at $40.17 on Thursday. The company has a market cap of $10.60 billion, a price-to-earnings ratio of 40.58 and a beta of 1.63. The firm has a 50-day moving average of $39.22 and a 200-day moving average of $36.36. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.81 and a quick ratio of 0.72. Aramark has a one year low of $27.05 and a one year high of $42.49.

Aramark (NYSE:ARMK) last posted its quarterly earnings results on Monday, November 11th. The company reported $0.54 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.54. Aramark had a return on equity of 14.06% and a net margin of 1.51%. The firm had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same period last year, the company earned $0.64 earnings per share. The business’s revenue was up 5.2% compared to the same quarter last year. On average, equities analysts expect that Aramark will post 1.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Aramark

Institutional investors and hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its holdings in Aramark by 25.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 9,239 shares of the company’s stock worth $314,000 after acquiring an additional 1,883 shares during the last quarter. Blue Trust Inc. increased its holdings in Aramark by 225.5% in the second quarter. Blue Trust Inc. now owns 2,080 shares of the company’s stock valued at $68,000 after purchasing an additional 1,441 shares during the period. Franklin Street Advisors Inc. NC bought a new position in Aramark during the 2nd quarter worth $272,000. Leeward Investments LLC MA acquired a new position in Aramark during the 2nd quarter worth about $9,263,000. Finally, Riverwater Partners LLC bought a new stake in shares of Aramark in the 2nd quarter valued at about $512,000.

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.