Aramark (NYSE:ARMK) Given New $46.00 Price Target at Truist Financial

Aramark (NYSE:ARMK) had its price objective lifted by Truist Financial from $42.00 to $46.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts also recently commented on ARMK. UBS Group raised their price objective on shares of Aramark from $40.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. The Goldman Sachs Group raised their price objective on shares of Aramark from $38.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Royal Bank of Canada upgraded shares of Aramark from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $36.00 to $42.50 in a research report on Tuesday, September 17th. Robert W. Baird raised their target price on shares of Aramark from $38.00 to $44.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft raised shares of Aramark from a “hold” rating to a “buy” rating and raised their target price for the company from $36.00 to $39.00 in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.23.

Aramark Stock Performance

NYSE:ARMK traded down $0.31 during mid-day trading on Tuesday, reaching $38.37. The company’s stock had a trading volume of 54,298 shares, compared to its average volume of 2,215,129. Aramark has a 12-month low of $26.58 and a 12-month high of $42.04. The firm’s fifty day moving average price is $38.24 and its two-hundred day moving average price is $35.17. The company has a current ratio of 0.81, a quick ratio of 0.86 and a debt-to-equity ratio of 1.42. The stock has a market cap of $10.11 billion, a P/E ratio of 39.08 and a beta of 1.62.

Aramark (NYSE:ARMK) last released its quarterly earnings results on Monday, November 11th. The company reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. Aramark had a net margin of 1.51% and a return on equity of 14.06%. The business had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.46 billion. During the same period last year, the firm earned $0.64 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. On average, equities analysts forecast that Aramark will post 1.92 EPS for the current fiscal year.

Aramark Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Monday, December 2nd will be issued a $0.001 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.00 annualized dividend and a dividend yield of 0.01%. Aramark’s dividend payout ratio is currently 38.38%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. CIBC Asset Management Inc raised its position in Aramark by 3.6% during the third quarter. CIBC Asset Management Inc now owns 7,621 shares of the company’s stock worth $295,000 after acquiring an additional 265 shares during the period. Bradley Foster & Sargent Inc. CT raised its holdings in Aramark by 0.4% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 69,987 shares of the company’s stock valued at $2,381,000 after acquiring an additional 310 shares in the last quarter. Industrial Alliance Investment Management Inc. raised its holdings in Aramark by 3.3% during the first quarter. Industrial Alliance Investment Management Inc. now owns 10,660 shares of the company’s stock worth $347,000 after purchasing an additional 340 shares in the last quarter. Huntington National Bank grew its position in shares of Aramark by 100.3% during the third quarter. Huntington National Bank now owns 681 shares of the company’s stock worth $26,000 after acquiring an additional 341 shares during the last quarter. Finally, Twin Tree Management LP grew its position in shares of 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 acquiring an additional 345 shares during 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.