Royal Bank of Canada Reiterates Outperform Rating for Aramark (NYSE:ARMK)

Aramark (NYSE:ARMK)‘s stock had its “outperform” rating reissued by stock analysts at Royal Bank of Canada in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $47.00 target price on the stock. Royal Bank of Canada’s target price suggests a potential upside of 23.47% from the company’s previous close.

ARMK has been the subject of a number of other research reports. Truist Financial increased their target price on Aramark from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Stifel Nicolaus lifted their price objective on shares of Aramark from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. StockNews.com downgraded shares of Aramark from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Robert W. Baird lifted their price target on shares of Aramark from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. Finally, The Goldman Sachs Group upped their price objective on shares of Aramark from $38.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $43.00.

Aramark Stock Up 0.1 %

Shares of ARMK opened at $38.07 on Thursday. Aramark has a fifty-two week low of $28.51 and a fifty-two week high of $42.49. The company’s fifty day moving average is $38.61 and its two-hundred day moving average is $37.70. The firm has a market cap of $10.08 billion, a PE ratio of 38.45 and a beta of 1.64. The company has a quick ratio of 0.72, a current ratio of 0.81 and a debt-to-equity ratio of 1.42.

Aramark (NYSE:ARMK) last issued its earnings results on Tuesday, February 4th. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. Aramark had a return on equity of 14.06% and a net margin of 1.51%. The firm had revenue of $4.55 billion for the quarter, compared to analysts’ expectations of $4.61 billion. During the same quarter last year, the firm earned $0.41 earnings per share. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. Analysts forecast that Aramark will post 1.93 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ARMK. Truist Financial Corp boosted its holdings in shares of Aramark by 20.1% in the second quarter. Truist Financial Corp now owns 8,961 shares of the company’s stock valued at $305,000 after acquiring an additional 1,497 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in Aramark by 19.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 58,500 shares of the company’s stock valued at $2,266,000 after purchasing an additional 9,500 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Aramark by 97.2% during the 3rd quarter. GAMMA Investing LLC now owns 3,307 shares of the company’s stock valued at $128,000 after purchasing an additional 1,630 shares during the period. Diversified Trust Co bought a new stake in shares of Aramark in the 3rd quarter worth $474,000. Finally, CWM LLC lifted its holdings in shares of Aramark by 112.6% in the third quarter. CWM LLC now owns 1,822 shares of the company’s stock valued at $71,000 after buying an additional 965 shares during the period.

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.