Aramark (NYSE:ARMK) Sets New 52-Week High After Analyst Upgrade

Aramark (NYSE:ARMKGet Free Report)’s share price hit a new 52-week high during mid-day trading on Monday after UBS Group raised their price target on the stock from $35.00 to $40.00. UBS Group currently has a buy rating on the stock. Aramark traded as high as $34.32 and last traded at $34.32, with a volume of 143 shares changing hands. The stock had previously closed at $33.91.

A number of other research analysts have also recently weighed in on the stock. Robert W. Baird raised their price objective on shares of Aramark from $35.00 to $37.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 8th. Truist Financial raised their price objective on shares of Aramark from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Finally, Oppenheimer raised their price objective on shares of Aramark from $36.00 to $39.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.89.

Read Our Latest Analysis on Aramark

Institutional Investors Weigh In On Aramark

Several hedge funds have recently made changes to their positions in ARMK. Janney Montgomery Scott LLC bought a new position in shares of Aramark during the 3rd quarter valued at $405,000. Envestnet Asset Management Inc. grew its stake in Aramark by 451.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 107,062 shares of the company’s stock valued at $3,715,000 after buying an additional 87,641 shares during the last quarter. Invesco Ltd. grew its stake in Aramark by 82.6% in the 3rd quarter. Invesco Ltd. now owns 961,603 shares of the company’s stock valued at $33,368,000 after buying an additional 434,842 shares during the last quarter. Stifel Financial Corp grew its stake in Aramark by 41.3% in the 3rd quarter. Stifel Financial Corp now owns 52,384 shares of the company’s stock valued at $1,818,000 after buying an additional 15,301 shares during the last quarter. Finally, Northern Trust Corp grew its stake in Aramark by 0.5% in the 3rd quarter. Northern Trust Corp now owns 2,146,885 shares of the company’s stock valued at $74,497,000 after buying an additional 10,570 shares during the last quarter.

Aramark Stock Up 0.4 %

The business’s 50 day moving average is $32.46 and its 200-day moving average is $30.80. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.11 and a current ratio of 1.25. The firm has a market capitalization of $8.96 billion, a price-to-earnings ratio of 14.31, a price-to-earnings-growth ratio of 1.35 and a beta of 1.56.

Aramark (NYSE:ARMKGet Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.03. The company had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.25 billion. Aramark had a net margin of 3.43% and a return on equity of 13.82%. Equities analysts anticipate that Aramark will post 1.57 EPS for the current fiscal year.

Aramark Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Monday, May 13th were issued a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date was Friday, May 10th. Aramark’s payout ratio is 15.97%.

About Aramark

(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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