JPMorgan Chase & Co. Increases Aramark (NYSE:ARMK) Price Target to $39.00

Aramark (NYSE:ARMK) had its target price hoisted by stock analysts at JPMorgan Chase & Co. from $35.00 to $39.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 15.62% from the company’s current price.

Several other analysts have also recently commented on the company. UBS Group lifted their price target on Aramark from $35.00 to $40.00 and gave the company a “buy” rating in a report on Friday, June 21st. Oppenheimer lifted their price target on Aramark from $36.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, June 12th. Robert W. Baird lifted their price target on Aramark from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft upgraded Aramark from a “hold” rating to a “buy” rating and lifted their price target for the company from $36.00 to $39.00 in a report on Wednesday. Finally, Royal Bank of Canada boosted their target price on Aramark from $33.00 to $36.00 and gave the stock a “sector perform” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Aramark presently has an average rating of “Moderate Buy” and a consensus price target of $35.70.

Aramark Stock Performance

NYSE:ARMK traded up $0.51 during midday trading on Wednesday, reaching $33.73. The stock had a trading volume of 1,328,228 shares, compared to its average volume of 2,325,305. Aramark has a 12-month low of $23.95 and a 12-month high of $35.23. The company has a quick ratio of 1.11, a current ratio of 1.25 and a debt-to-equity ratio of 2.03. The firm has a fifty day simple moving average of $33.21 and a two-hundred day simple moving average of $31.96. The stock has a market cap of $8.87 billion, a P/E ratio of 14.27, a P/E/G ratio of 1.77 and a beta of 1.59.

Aramark (NYSE:ARMK) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.01. The business had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.31 billion. Aramark had a return on equity of 13.82% and a net margin of 3.43%. The business’s revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.36 EPS. On average, equities analysts expect that Aramark will post 1.57 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Choreo LLC acquired a new position in shares of Aramark during the 2nd quarter valued at about $229,000. Los Angeles Capital Management LLC acquired a new position in shares of Aramark during the 2nd quarter valued at about $211,000. Arizona State Retirement System increased its holdings in shares of Aramark by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 69,825 shares of the company’s stock valued at $2,375,000 after acquiring an additional 1,345 shares during the last quarter. CIBC Asset Management Inc grew its holdings in Aramark by 7.7% in the 2nd quarter. CIBC Asset Management Inc now owns 7,356 shares of the company’s stock valued at $250,000 after buying an additional 523 shares during the last quarter. Finally, Natixis Advisors LLC grew its holdings in Aramark by 110.5% in the 2nd quarter. Natixis Advisors LLC now owns 135,632 shares of the company’s stock valued at $4,614,000 after buying an additional 71,189 shares during the last quarter.

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.