Truist Financial Increases Aramark (NYSE:ARMK) Price Target to $35.00

Aramark (NYSE:ARMKGet Free Report) had its price target lifted by equities researchers at Truist Financial from $33.00 to $35.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 19.01% from the company’s current price.

A number of other research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Aramark from $47.00 to $35.00 and set an “overweight” rating for the company in a report on Monday, October 16th. Morgan Stanley reduced their price target on shares of Aramark from $27.00 to $26.00 and set an “equal weight” rating for the company in a report on Wednesday, November 15th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $33.00 price target on shares of Aramark in a report on Wednesday. Stifel Nicolaus reduced their price target on shares of Aramark from $45.00 to $33.00 and set a “buy” rating for the company in a report on Tuesday, November 7th. Finally, StockNews.com initiated coverage on shares of Aramark in a report on Thursday, December 7th. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $33.32.

View Our Latest Research Report on ARMK

Aramark Trading Up 1.8 %

ARMK opened at $29.41 on Wednesday. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.27 and a quick ratio of 0.92. The company has a market cap of $7.71 billion, a price-to-earnings ratio of 12.31, a price-to-earnings-growth ratio of 1.20 and a beta of 1.47. The firm has a 50 day simple moving average of $28.28 and a 200 day simple moving average of $31.16. Aramark has a fifty-two week low of $23.55 and a fifty-two week high of $31.94.

Aramark (NYSE:ARMKGet Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.05. The business had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.29 billion. Aramark had a net margin of 3.37% and a return on equity of 13.45%. Aramark’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.41 earnings per share. On average, sell-side analysts anticipate that Aramark will post 1.53 earnings per share for the current year.

Insiders Place Their Bets

In other Aramark news, COO Marc A. Bruno sold 27,884 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $26.67, for a total transaction of $743,666.28. Following the sale, the chief operating officer now directly owns 225,653 shares of the company’s stock, valued at approximately $6,018,165.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.92% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of Aramark by 102.9% during the 1st quarter. BlackRock Inc. now owns 24,774,397 shares of the company’s stock valued at $886,923,000 after acquiring an additional 12,562,434 shares during the period. Morgan Stanley lifted its position in shares of Aramark by 1,042.8% during the 4th quarter. Morgan Stanley now owns 12,850,218 shares of the company’s stock valued at $531,228,000 after acquiring an additional 11,725,727 shares during the period. State Street Corp lifted its position in shares of Aramark by 63.3% during the 1st quarter. State Street Corp now owns 7,929,211 shares of the company’s stock valued at $283,866,000 after acquiring an additional 3,074,389 shares during the period. Norges Bank acquired a new position in shares of Aramark during the 4th quarter valued at $95,987,000. Finally, Hudson Bay Capital Management LP acquired a new position in shares of Aramark during the 1st quarter valued at $71,600,000.

Aramark Company Profile

(Get Free Report)

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.

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