Aramark (NYSE:ARMK) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

Aramark (NYSE:ARMK) has received an average rating of “Moderate Buy” from the fifteen brokerages that are covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $68.82.

ARMK has been the subject of a number of research reports. New Street Research set a $70.00 target price on Aramark in a report on Thursday, August 13th. UBS Group cut their price objective on Aramark from $71.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday. Royal Bank Of Canada raised their price target on shares of Aramark from $60.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 19th. Truist Financial raised their target price on Aramark from $58.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Finally, JPMorgan Chase & Co. boosted their price objective on Aramark from $55.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th.

Aramark Price Performance

Aramark stock traded down $0.04 during mid-day trading on Friday, hitting $53.84. 3,819,876 shares of the company were exchanged, compared to its average volume of 3,406,731. The business’s 50 day simple moving average is $55.18 and its two-hundred day simple moving average is $50.75. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.28 and a quick ratio of 1.14. The company has a market capitalization of $14.19 billion, a P/E ratio of 37.65, a PEG ratio of 0.79 and a beta of 1.10. Aramark has a 12-month low of $35.07 and a 12-month high of $62.65.

Hedge Funds Weigh In On Aramark

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in shares of Aramark in the 2nd quarter valued at approximately $1,411,586,000. Jupiter Topco LLC bought a new stake in shares of Aramark during the second quarter worth $1,041,407,000. Bank of New York Mellon Corp bought a new stake in Aramark during the 2nd quarter worth about $140,853,000. Bank of America Corp DE acquired a new position in Aramark in the second quarter valued at approximately $137,742,000. Finally, PointState Capital LP bought a new position in shares of Aramark in the 2nd quarter worth $135,077,000.

Aramark Company Profile

Aramark provides food and facilities management services to organizations around the world. Its clients include schools and universities, hospitals and other healthcare providers, businesses, sports and entertainment venues, and correctional institutions. The company plans and operates dining programs, including meal preparation, catering, concessions, and retail food services. It also provides facilities services such as maintenance, cleaning, and related operational support tailored to client needs.