Aramark (NYSE:ARMK) Given New $45.00 Price Target at Robert W. Baird

Aramark (NYSE:ARMK) had its price target boosted by Robert W. Baird from $44.00 to $45.00 in a research report report published on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

ARMK has been the subject of several other research reports. 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 note on Wednesday, October 16th. JPMorgan Chase & Co. upped their target price on Aramark from $41.00 to $45.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Truist Financial lifted their price target on Aramark from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Morgan Stanley increased their price objective on Aramark from $38.00 to $40.00 and gave the company an “equal weight” rating in a report on Tuesday, November 12th. Finally, Royal Bank of Canada raised shares of Aramark from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $36.00 to $42.50 in a report on Tuesday, September 17th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.59.

Aramark Trading Down 0.9 %

NYSE ARMK opened at $40.38 on Thursday. The firm has a 50 day simple moving average of $39.17 and a 200-day simple moving average of $36.30. The firm has a market cap of $10.66 billion, a price-to-earnings ratio of 40.79 and a beta of 1.63. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.72 and a current ratio of 0.81. Aramark has a one year low of $26.58 and a one year high of $42.49.

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

Aramark Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Monday, December 2nd were given a $0.001 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.00 dividend on an annualized basis and a yield of 0.01%. Aramark’s payout ratio is currently 42.42%.

Hedge Funds Weigh In On Aramark

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. CIBC Asset Management Inc boosted its position in shares of Aramark by 3.6% during the 3rd quarter. CIBC Asset Management Inc now owns 7,621 shares of the company’s stock worth $295,000 after purchasing an additional 265 shares in the last quarter. Bradley Foster & Sargent Inc. CT boosted its holdings in Aramark by 0.4% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 69,987 shares of the company’s stock worth $2,381,000 after buying an additional 310 shares in the last quarter. Huntington National Bank grew its holdings in shares of Aramark by 100.3% in the 3rd quarter. Huntington National Bank now owns 681 shares of the company’s stock worth $26,000 after acquiring an additional 341 shares during the period. Cadent Capital Advisors LLC increased its position in shares of Aramark by 4.7% in the third quarter. Cadent Capital Advisors LLC now owns 7,711 shares of the company’s stock valued at $299,000 after buying an additional 349 shares in the last quarter. Finally, HighTower Advisors LLC increased its holdings in Aramark by 2.5% during the 3rd quarter. HighTower Advisors LLC now owns 16,504 shares of the company’s stock valued at $643,000 after acquiring an additional 395 shares in the last quarter.

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.