Aramark (NYSE:ARMK) Given Average Recommendation of “Moderate Buy” by Brokerages

Aramark (NYSE:ARMK) has earned an average recommendation of “Moderate Buy” from the thirteen research firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $33.04.

Several brokerages have recently issued reports on ARMK. Morgan Stanley lifted their target price on Aramark from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $33.00 target price on shares of Aramark in a report on Wednesday, February 7th. The Goldman Sachs Group started coverage on Aramark in a report on Wednesday, January 17th. They issued a “buy” rating and a $33.00 target price for the company. Finally, Truist Financial lifted their target price on Aramark from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th.

Aramark Price Performance

NYSE:ARMK opened at $32.53 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 1.27 and a debt-to-equity ratio of 2.08. The business’s 50-day simple moving average is $31.02 and its two-hundred day simple moving average is $29.04. The stock has a market cap of $8.54 billion, a PE ratio of 13.61, a P/E/G ratio of 1.29 and a beta of 1.48. Aramark has a 52 week low of $23.95 and a 52 week high of $33.04.

Aramark (NYSE:ARMK) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.05. The business had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.29 billion. Aramark had a return on equity of 13.45% and a net margin of 3.37%. The business’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period last year, the firm earned $0.41 earnings per share. As a group, analysts forecast that Aramark will post 1.56 EPS for the current fiscal year.

Aramark Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th were paid a $0.095 dividend. The ex-dividend date was Tuesday, February 13th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.17%. Aramark’s payout ratio is 15.90%.

Institutional Trading of Aramark

A number of hedge funds have recently modified their holdings of ARMK. Quarry LP raised its holdings in Aramark by 148.4% in the 4th quarter. Quarry LP now owns 954 shares of the company’s stock worth $27,000 after purchasing an additional 570 shares during the period. Benjamin F. Edwards & Company Inc. acquired a new position in Aramark in the 4th quarter worth about $28,000. S.A. Mason LLC acquired a new position in Aramark in the 3rd quarter worth about $38,000. EverSource Wealth Advisors LLC raised its holdings in Aramark by 2,269.4% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,161 shares of the company’s stock worth $40,000 after purchasing an additional 1,112 shares during the period. Finally, CWM LLC raised its holdings in Aramark by 67.0% in the 3rd quarter. CWM LLC now owns 1,196 shares of the company’s stock worth $42,000 after purchasing an additional 480 shares during the period.

About Aramark

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.