Aramark (NYSE:ARMK) Receives $33.04 Consensus Target Price from Analysts

Aramark (NYSE:ARMK) has been assigned an average rating of “Moderate Buy” from the thirteen research firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $33.04.

A number of brokerages have weighed in on ARMK. Royal Bank of Canada reiterated a “sector perform” rating and set a $33.00 target price on shares of Aramark in a research report on Wednesday, February 7th. Truist Financial increased their target price on Aramark from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Morgan Stanley lifted their price target on Aramark from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. Finally, The Goldman Sachs Group started coverage on Aramark in a research note on Wednesday, January 17th. They issued a “buy” rating and a $33.00 target price for the company.

Aramark Price Performance

Shares of NYSE ARMK opened at $31.62 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.12 and a debt-to-equity ratio of 2.08. The stock has a fifty day simple moving average of $31.63 and a two-hundred day simple moving average of $29.51. Aramark has a 1-year low of $23.95 and a 1-year high of $33.04. The firm has a market cap of $8.30 billion, a price-to-earnings ratio of 13.23, a price-to-earnings-growth ratio of 1.24 and a beta of 1.47.

Aramark (NYSE:ARMK) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.05. Aramark had a return on equity of 13.45% and a net margin of 3.37%. The company had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the prior year, the company earned $0.41 EPS. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. Analysts anticipate that Aramark will post 1.56 earnings per share for the current year.

Aramark Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Monday, May 13th will be given a dividend of $0.095 per share. The ex-dividend date is Friday, May 10th. This represents a $0.38 annualized dividend and a yield of 1.20%. Aramark’s payout ratio is presently 15.90%.

Institutional Trading of Aramark

Institutional investors and hedge funds have recently made changes to their positions in the stock. Rise Advisors LLC bought a new position in Aramark in the first quarter valued at $25,000. Benjamin F. Edwards & Company Inc. bought a new position in shares of Aramark during the 4th quarter valued at about $28,000. EverSource Wealth Advisors LLC raised its holdings in shares of Aramark by 2,269.4% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,161 shares of the company’s stock valued at $40,000 after buying an additional 1,112 shares in the last quarter. CWM LLC lifted its position in Aramark by 67.0% in the 3rd quarter. CWM LLC now owns 1,196 shares of the company’s stock worth $42,000 after buying an additional 480 shares during the last quarter. Finally, Scarborough Advisors LLC purchased a new stake in Aramark in the fourth quarter worth approximately $34,000.

About Aramark

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.