Aramark (NYSE:ARMK) PT Raised to $43.00 at Deutsche Bank Aktiengesellschaft

Aramark (NYSE:ARMKGet Rating) had its price target raised by Deutsche Bank Aktiengesellschaft from $40.00 to $43.00 in a research report sent to investors on Wednesday morning, The Fly reports.

Several other research firms have also issued reports on ARMK. StockNews.com initiated coverage on shares of Aramark in a research report on Wednesday, October 12th. They set a hold rating on the stock. Morgan Stanley increased their price target on shares of Aramark from $37.00 to $38.00 and gave the stock an equal weight rating in a research report on Tuesday, September 27th. Royal Bank of Canada reduced their price target on shares of Aramark from $41.00 to $38.00 and set a sector perform rating on the stock in a research report on Thursday, October 13th. Finally, Jefferies Financial Group restated a hold rating and issued a $36.00 target price on shares of Aramark in a research report on Tuesday, October 25th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Aramark presently has a consensus rating of Hold and a consensus price target of $42.00.

Aramark Stock Up 0.9 %

Shares of ARMK opened at $40.64 on Wednesday. Aramark has a 12 month low of $28.74 and a 12 month high of $41.20. The firm’s 50 day moving average is $35.58 and its 200-day moving average is $34.24. The stock has a market capitalization of $10.47 billion, a PE ratio of 53.47, a P/E/G ratio of 0.77 and a beta of 1.66. The company has a current ratio of 1.25, a quick ratio of 1.05 and a debt-to-equity ratio of 2.77.

Aramark (NYSE:ARMKGet Rating) last posted its quarterly earnings results on Tuesday, November 15th. The company reported $0.49 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.49. The business had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.11 billion. Aramark had a net margin of 1.19% and a return on equity of 10.70%. The firm’s revenue for the quarter was up 23.6% on a year-over-year basis. During the same quarter last year, the business posted $0.21 EPS. Equities research analysts forecast that Aramark will post 1.9 EPS for the current year.

Aramark Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 5th. Stockholders of record on Tuesday, November 22nd will be issued a dividend of $0.11 per share. The ex-dividend date is Monday, November 21st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.08%. Aramark’s dividend payout ratio (DPR) is presently 57.90%.

Hedge Funds Weigh In On Aramark

A number of hedge funds have recently modified their holdings of ARMK. PointState Capital LP acquired a new position in shares of Aramark during the third quarter worth $61,807,000. Goldman Sachs Group Inc. raised its stake in Aramark by 110.0% during the first quarter. Goldman Sachs Group Inc. now owns 3,402,426 shares of the company’s stock worth $127,931,000 after buying an additional 1,782,146 shares during the last quarter. Bank of Montreal Can raised its stake in Aramark by 4,311.6% during the third quarter. Bank of Montreal Can now owns 1,547,979 shares of the company’s stock worth $49,828,000 after buying an additional 1,512,890 shares during the last quarter. Balyasny Asset Management LLC bought a new position in Aramark during the third quarter worth $32,702,000. Finally, Canada Pension Plan Investment Board raised its stake in Aramark by 125.2% during the third quarter. Canada Pension Plan Investment Board now owns 1,438,956 shares of the company’s stock worth $44,895,000 after buying an additional 799,990 shares during the last quarter.

Aramark Company Profile

(Get Rating)

Aramark engages in the provision of food, facilities, and uniform services. It operates through the following segments: Food and Support Services United States (FSS United States), Food and Support Services International (FSS International), and Uniform. The FSS United States segment offers food, hospitality and facility services for school districts, colleges and universities, healthcare facilities, businesses, sports, entertainment and recreational venues, conference and convention centers, national and state parks, and correctional institutions.

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