Aramark (NYSE:ARMK) Sets New 1-Year High at $38.61

Aramark (NYSE:ARMK)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $38.61 and last traded at $38.61, with a volume of 5459 shares trading hands. The stock had previously closed at $38.29.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Oppenheimer lifted their price target on Aramark from $36.00 to $39.00 and gave the company an “outperform” rating in a research note on Wednesday, June 12th. Truist Financial boosted their price objective on Aramark from $37.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Royal Bank of Canada upgraded Aramark from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $36.00 to $42.50 in a research report on Tuesday. StockNews.com lowered shares of Aramark from a “hold” rating to a “sell” rating in a report on Friday. Finally, Robert W. Baird upped their price objective 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Aramark currently has an average rating of “Moderate Buy” and an average price target of $37.36.

Aramark Stock Up 1.1 %

The stock has a market capitalization of $10.18 billion, a price-to-earnings ratio of 16.08, a price-to-earnings-growth ratio of 2.04 and a beta of 1.62. The business’s 50-day moving average is $34.99 and its two-hundred day moving average is $33.25. 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 (NYSE:ARMK) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. The firm had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.31 billion. Aramark had a net margin of 1.93% and a return on equity of 14.09%. Aramark’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.36 earnings per share. Equities analysts anticipate that Aramark will post 1.57 EPS for the current year.

Aramark Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 19th were given a dividend of $0.095 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.38 dividend on an annualized basis and a yield of 0.98%. Aramark’s payout ratio is presently 15.97%.

Hedge Funds Weigh In On Aramark

A number of institutional investors have recently bought and sold shares of ARMK. Rise Advisors LLC purchased a new position in Aramark during the first quarter worth about $25,000. Scarborough Advisors LLC purchased a new position in Aramark during the fourth quarter worth about $34,000. Twin Tree Management LP raised its stake in Aramark by 32.0% during the first quarter. Twin Tree Management LP now owns 1,424 shares of the company’s stock worth $46,000 after purchasing an additional 345 shares during the period. GAMMA Investing LLC raised its stake in Aramark by 319.3% during the second quarter. GAMMA Investing LLC now owns 1,677 shares of the company’s stock worth $57,000 after purchasing an additional 1,277 shares during the period. Finally, Versant Capital Management Inc raised its stake in Aramark by 44,750.0% during the second quarter. Versant Capital Management Inc now owns 1,794 shares of the company’s stock worth $61,000 after purchasing an additional 1,790 shares during the period.

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.