Aramark (NYSE:ARMK) Reaches New 12-Month High – Here’s Why

Aramark (NYSE:ARMK) shares hit a new 52-week high during trading on Monday . The stock traded as high as $39.95 and last traded at $39.88, with a volume of 31719 shares. The stock had previously closed at $39.67.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ARMK shares. Truist Financial raised their price target on shares of Aramark from $37.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Robert W. Baird boosted their target price on Aramark from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Bank of America increased their price target on Aramark from $36.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. StockNews.com cut shares of Aramark from a “hold” rating to a “sell” rating in a research note on Tuesday, October 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of Aramark from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Aramark presently has a consensus rating of “Moderate Buy” and an average target price of $39.68.

Aramark Trading Up 0.4 %

The company has a current ratio of 0.96, a quick ratio of 0.86 and a debt-to-equity ratio of 1.71. The stock has a market capitalization of $10.47 billion, a P/E ratio of 16.67 and a beta of 1.62. The business’s fifty day simple moving average is $37.28 and its two-hundred day simple moving average is $34.36.

Aramark (NYSE:ARMK) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 14.09% and a net margin of 1.93%. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.36 earnings per share. As a group, analysts forecast that Aramark will post 1.55 earnings per share for the current year.

Aramark Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 19th were paid a $0.095 dividend. The ex-dividend date was Monday, August 19th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 0.95%. Aramark’s payout ratio is 15.97%.

Institutional Investors Weigh In On Aramark

Institutional investors have recently bought and sold shares of the business. UMB Bank n.a. lifted its holdings in shares of Aramark by 360.1% during the 3rd quarter. UMB Bank n.a. now owns 773 shares of the company’s stock worth $30,000 after acquiring an additional 605 shares during the period. Twin Tree Management LP grew its position in Aramark by 32.0% during the 1st quarter. Twin Tree Management LP now owns 1,424 shares of the company’s stock worth $46,000 after acquiring an additional 345 shares during the last quarter. Friedenthal Financial acquired a new position in shares of Aramark during the third quarter worth approximately $52,000. GAMMA Investing LLC grew its stake in shares of Aramark by 319.3% during the second quarter. GAMMA Investing LLC now owns 1,677 shares of the company’s stock valued at $57,000 after purchasing an additional 1,277 shares during the last quarter. Finally, Versant Capital Management Inc increased its holdings in shares of Aramark by 44,750.0% in the second quarter. Versant Capital Management Inc now owns 1,794 shares of the company’s stock valued at $61,000 after purchasing an additional 1,790 shares in the last quarter.

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.