Aramark (NYSE:ARMK) Given New $46.00 Price Target at Truist Financial

Aramark (NYSE:ARMK) had its price objective upped by Truist Financial from $42.00 to $46.00 in a report published on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also recently weighed in on ARMK. StockNews.com raised shares of Aramark from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. UBS Group lifted their target price on Aramark from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group increased their price target on Aramark from $38.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Bank of America boosted their price objective on Aramark from $36.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, Robert W. Baird raised their target price on Aramark from $38.00 to $44.00 and gave the company a “neutral” rating in a research note on Tuesday. Three 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 stock currently has an average rating of “Moderate Buy” and a consensus target price of $42.23.

Aramark Stock Down 1.7 %

ARMK stock opened at $38.03 on Tuesday. The company has a market capitalization of $10.02 billion, a P/E ratio of 38.41 and a beta of 1.62. The firm has a 50 day simple moving average of $38.15 and a 200-day simple moving average of $35.10. The company has a current ratio of 0.96, a quick ratio of 0.86 and a debt-to-equity ratio of 1.71. Aramark has a twelve month low of $25.92 and a twelve month high of $42.04.

Aramark (NYSE:ARMK) last released its earnings results on Monday, November 11th. The company reported $0.54 EPS for the quarter, hitting 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 return on equity of 14.09% and a net margin of 1.93%. Aramark’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 EPS. On average, equities research analysts predict that Aramark will post 1.55 earnings per share for the current fiscal year.

Aramark Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Monday, December 2nd will be issued a dividend of $0.001 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.00 annualized dividend and a yield of 0.01%. Aramark’s payout ratio is 38.38%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ARMK. CIBC Asset Management Inc boosted its holdings in shares of Aramark by 3.6% during the third quarter. CIBC Asset Management Inc now owns 7,621 shares of the company’s stock worth $295,000 after purchasing an additional 265 shares during the period. Bradley Foster & Sargent Inc. CT grew its holdings in shares of Aramark by 0.4% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 69,987 shares of the company’s stock valued at $2,381,000 after acquiring an additional 310 shares in the last quarter. Industrial Alliance Investment Management Inc. raised its holdings in shares of Aramark by 3.3% during the first quarter. Industrial Alliance Investment Management Inc. now owns 10,660 shares of the company’s stock worth $347,000 after acquiring an additional 340 shares in the last quarter. Huntington National Bank boosted its position in Aramark by 100.3% during the third quarter. Huntington National Bank now owns 681 shares of the company’s stock valued at $26,000 after purchasing an additional 341 shares during the last quarter. Finally, Twin Tree Management LP grew its stake in Aramark by 32.0% in the first quarter. Twin Tree Management LP now owns 1,424 shares of the company’s stock valued at $46,000 after purchasing an additional 345 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.