Truist Financial Forecasts Strong Price Appreciation for Aramark (NYSE:ARMK) Stock

Aramark (NYSE:ARMK) had its target price lifted by equities researchers at Truist Financial from $42.00 to $46.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price target would indicate a potential upside of 17.65% from the company’s previous close.

A number of other equities research analysts have also weighed in on the company. Bank of America boosted their price objective on Aramark from $36.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. UBS Group boosted their price objective on Aramark from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Royal Bank of Canada upgraded Aramark from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $36.00 to $42.50 in a research report on Tuesday, September 17th. The Goldman Sachs Group boosted their price objective on Aramark from $38.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. boosted their price objective on Aramark from $41.00 to $45.00 and gave the stock an “overweight” rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.23.

Aramark Price Performance

Aramark stock opened at $39.10 on Tuesday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.86 and a current ratio of 0.81. Aramark has a 52 week low of $25.92 and a 52 week high of $42.04. The stock has a market capitalization of $10.30 billion, a P/E ratio of 39.49 and a beta of 1.62. The stock has a fifty day moving average of $38.24 and a 200-day moving average of $35.17.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Trust Inc. lifted its stake 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 purchasing an additional 3,617 shares during the period. Leeward Investments LLC MA acquired a new position in Aramark during the 2nd quarter worth approximately $9,263,000. Public Employees Retirement Association of Colorado raised its stake in Aramark by 19.1% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 810,174 shares of the company’s stock worth $26,347,000 after buying an additional 129,939 shares during the period. Asset Management One Co. Ltd. raised its stake in shares of Aramark by 63.6% in the third quarter. Asset Management One Co. Ltd. now owns 140,432 shares of the company’s stock worth $5,439,000 after purchasing an additional 54,580 shares during the last quarter. Finally, Comerica Bank raised its stake in shares of Aramark by 14.9% in the first quarter. Comerica Bank now owns 126,658 shares of the company’s stock worth $4,119,000 after purchasing an additional 16,423 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.