Brokerages Set Aramark (NYSE:ARMK) Target Price at $33.04

Shares of Aramark (NYSE:ARMK) have been assigned an average rating of “Moderate Buy” from the fourteen ratings firms that are presently covering the stock, MarketBeat reports. One equities research 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 updated their coverage on the stock in the last year is $33.32.

ARMK has been the topic of a number of research reports. Morgan Stanley increased their price objective on Aramark from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Robert W. Baird increased their price objective on Aramark from $35.00 to $37.00 and gave the company a “neutral” rating in a report on Wednesday. Royal Bank of Canada reissued a “sector perform” rating and issued a $33.00 price objective on shares of Aramark in a report on Wednesday, February 7th. The Goldman Sachs Group initiated coverage on Aramark in a research note on Wednesday, January 17th. They issued a “buy” rating and a $33.00 target price on the stock. Finally, Truist Financial upped their target price on Aramark from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th.

Aramark Trading Up 3.6 %

Shares of NYSE:ARMK opened at $31.87 on Friday. The business’s 50-day moving average is $31.66 and its 200 day moving average is $29.55. Aramark has a 1 year low of $23.95 and a 1 year high of $33.04. The firm has a market capitalization of $8.36 billion, a P/E ratio of 13.33, a P/E/G ratio of 1.24 and a beta of 1.47. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.27 and a quick ratio of 1.12.

Aramark (NYSE:ARMK) last announced its earnings results on Tuesday, February 6th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.05. The company had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.29 billion. Aramark had a return on equity of 13.45% and a net margin of 3.37%. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.41 EPS. On average, research analysts predict that Aramark will post 1.56 earnings per share for the current fiscal year.

Aramark Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Monday, May 13th will be given a $0.095 dividend. The ex-dividend date is Friday, May 10th. This represents a $0.38 annualized dividend and a dividend yield of 1.19%. Aramark’s dividend payout ratio (DPR) is presently 15.90%.

Hedge Funds Weigh In On Aramark

Hedge funds and other institutional investors have recently made changes to their positions in the company. Rise Advisors LLC purchased a new position in shares of Aramark in the first quarter valued at approximately $25,000. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Aramark in the fourth quarter valued at approximately $28,000. EverSource Wealth Advisors LLC increased its holdings in shares of Aramark by 2,269.4% in the third quarter. EverSource Wealth Advisors LLC now owns 1,161 shares of the company’s stock valued at $40,000 after purchasing an additional 1,112 shares during the last quarter. CWM LLC increased its stake in Aramark by 67.0% during the third quarter. CWM LLC now owns 1,196 shares of the company’s stock worth $42,000 after acquiring an additional 480 shares during the last quarter. Finally, Scarborough Advisors LLC acquired a new stake in Aramark during the fourth quarter worth $34,000.

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.