Aramark (NYSE:ARMK) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Aramark (NYSE:ARMK) from a sell rating to a hold rating in a research report report published on Saturday.

A number of other research firms have also recently commented on ARMK. Bank of America lifted their target price on Aramark from $36.00 to $39.00 and gave the stock a buy rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price target on Aramark from $39.00 to $41.00 and gave the stock an overweight rating in a research report on Monday, September 9th. Truist Financial boosted their price objective on Aramark from $37.00 to $42.00 and gave the company a buy rating in a research note on Thursday, September 12th. Robert W. Baird raised their target price on shares of Aramark from $37.00 to $38.00 and gave the stock a neutral rating in a research report on Wednesday, August 7th. Finally, Oppenheimer upped their price target on shares of Aramark from $36.00 to $39.00 and gave the company an outperform rating in a research report on Wednesday, June 12th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $37.36.

Aramark Stock Performance

Shares of Aramark stock opened at $37.26 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.96 and a debt-to-equity ratio of 1.71. Aramark has a 52 week low of $23.95 and a 52 week high of $38.99. The firm’s 50 day moving average is $35.57 and its two-hundred day moving average is $33.53. The firm has a market capitalization of $9.80 billion, a P/E ratio of 15.66, a P/E/G ratio of 2.04 and a beta of 1.62.

Aramark (NYSE:ARMK) last posted its earnings results on Tuesday, August 6th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. Aramark had a net margin of 1.93% and a return on equity of 14.09%. The firm had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.31 billion. During the same period last year, the firm posted $0.36 EPS. The company’s revenue was up 8.0% on a year-over-year basis. Research analysts forecast that Aramark will post 1.57 EPS for the current fiscal year.

Aramark Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were given a dividend of $0.095 per share. The ex-dividend date was Monday, August 19th. This represents a $0.38 dividend on an annualized basis and a yield of 1.02%. Aramark’s payout ratio is currently 15.97%.

Institutional Investors Weigh In On Aramark

A number of hedge funds have recently added to or reduced their stakes in ARMK. Souders Financial Advisors increased its position in Aramark by 2.9% during the 2nd quarter. Souders Financial Advisors now owns 105,732 shares of the company’s stock worth $3,597,000 after purchasing an additional 2,949 shares during the period. Truist Financial Corp boosted its stake in shares of Aramark by 20.1% in the second quarter. Truist Financial Corp now owns 8,961 shares of the company’s stock valued at $305,000 after buying an additional 1,497 shares in the last quarter. Algert Global LLC acquired a new position in Aramark during the second quarter worth $854,000. Susquehanna International Group Ltd. purchased a new position in Aramark in the second quarter worth $319,000. Finally, Millennium Management LLC lifted its holdings in Aramark by 822.3% in the second quarter. Millennium Management LLC now owns 1,677,629 shares of the company’s stock valued at $57,073,000 after acquiring an additional 1,495,737 shares during the period.

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.