Nomura upgraded shares of Aramark (NYSE:ARMK) from a neutral rating to a buy rating in a report issued on Monday morning, BenzingaRatingsTable reports. They currently have $50.00 price objective on the stock, up from their previous price objective of $28.00.
A number of other brokerages have also weighed in on ARMK. Stifel Nicolaus upgraded Aramark from a hold rating to a buy rating and boosted their price target for the stock from $36.00 to $49.00 in a research note on Monday. Morgan Stanley set a $34.00 price target on Aramark and gave the stock a hold rating in a research note on Wednesday, May 8th. Robert W. Baird lowered Aramark from an outperform rating to a neutral rating and boosted their price target for the stock from $38.00 to $40.00 in a research note on Wednesday, August 7th. ValuEngine upgraded Aramark from a sell rating to a hold rating in a research note on Thursday, May 30th. Finally, TheStreet upgraded Aramark from a c+ rating to a b- rating in a research note on Friday, July 5th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Aramark presently has a consensus rating of Buy and a consensus target price of $43.23.
Shares of ARMK stock opened at $39.96 on Monday. Aramark has a fifty-two week low of $25.49 and a fifty-two week high of $43.70. The firm has a market capitalization of $9.72 billion, a price-to-earnings ratio of 17.98, a PEG ratio of 2.25 and a beta of 0.91. The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.04 and a current ratio of 1.22. The stock’s 50-day simple moving average is $36.77 and its 200-day simple moving average is $33.14.
Aramark (NYSE:ARMK) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.08. Aramark had a return on equity of 17.39% and a net margin of 3.33%. The business had revenue of $4.01 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same quarter in the previous year, the firm earned $0.48 earnings per share. The company’s revenue was up 1.0% on a year-over-year basis. As a group, equities analysts forecast that Aramark will post 2.03 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Thursday, August 15th will be given a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $0.44 dividend on an annualized basis and a yield of 1.10%. Aramark’s dividend payout ratio is currently 22.11%.
In related news, insider Keith Bethel sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $37.40, for a total value of $280,500.00. Following the sale, the insider now owns 43,692 shares in the company, valued at $1,634,080.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.30% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its position in shares of Aramark by 55.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,707,484 shares of the company’s stock worth $78,432,000 after acquiring an additional 969,260 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Aramark by 4.7% during the 4th quarter. Geode Capital Management LLC now owns 2,491,849 shares of the company’s stock worth $72,143,000 after acquiring an additional 112,911 shares in the last quarter. Raymond James Trust N.A. acquired a new stake in shares of Aramark during the 1st quarter worth approximately $261,000. Oakbrook Investments LLC acquired a new stake in shares of Aramark during the 1st quarter worth approximately $287,000. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in Aramark in the first quarter valued at approximately $376,000. Hedge funds and other institutional investors own 93.82% of the company’s stock.
Aramark provides food, facilities management, and uniform services to education, healthcare, business and industry, sports, leisure, and corrections clients in North America and internationally. It operates in three segments: Food and Support Services United States, Food and Support Services International, and Uniform and Career Apparel.
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