Aramark (NYSE:ARMK) Given Consensus Recommendation of “Moderate Buy” by Analysts

Aramark (NYSE:ARMK) has earned a consensus recommendation of “Moderate Buy” from the eleven research firms that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $42.23.

A number of equities analysts have issued reports on the company. Bank of America increased their price objective on Aramark from $36.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Royal Bank of Canada raised shares of Aramark from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $36.00 to $42.50 in a research report on Tuesday, September 17th. Truist Financial upped their price objective on shares of Aramark from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. UBS Group lifted their target price on shares of Aramark from $40.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, Morgan Stanley upped their price target on Aramark from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 12th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ARMK. Massachusetts Financial Services Co. MA increased its holdings in Aramark by 70.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,329,917 shares of the company’s stock worth $322,618,000 after buying an additional 3,430,131 shares in the last quarter. Millennium Management LLC grew its stake in shares of Aramark by 822.3% in the second quarter. Millennium Management LLC now owns 1,677,629 shares of the company’s stock worth $57,073,000 after acquiring an additional 1,495,737 shares during the period. Farallon Capital Management LLC grew its stake in shares of Aramark by 5.5% in the first quarter. Farallon Capital Management LLC now owns 17,822,937 shares of the company’s stock worth $579,602,000 after acquiring an additional 923,683 shares during the period. Janus Henderson Group PLC lifted its position in Aramark by 6.0% during the third quarter. Janus Henderson Group PLC now owns 15,714,443 shares of the company’s stock valued at $608,619,000 after purchasing an additional 896,288 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Aramark by 18.0% in the second quarter. Dimensional Fund Advisors LP now owns 4,731,963 shares of the company’s stock worth $160,977,000 after purchasing an additional 720,738 shares during the last quarter.

Aramark Stock Up 0.9 %

Shares of NYSE ARMK opened at $42.22 on Wednesday. The firm has a fifty day simple moving average of $38.46 and a two-hundred day simple moving average of $35.63. The firm has a market capitalization of $11.14 billion, a PE ratio of 42.65 and a beta of 1.62. The company has a current ratio of 0.81, a quick ratio of 0.72 and a debt-to-equity ratio of 1.42. Aramark has a 12 month low of $26.58 and a 12 month high of $42.41.

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

Aramark Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Monday, December 2nd will be issued a $0.001 dividend. This represents a $0.00 dividend on an annualized basis and a dividend yield of 0.01%. The ex-dividend date is Monday, December 2nd. Aramark’s payout ratio is 42.42%.

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.