Robert W. Baird Issues Positive Forecast for Aramark (NYSE:ARMK) Stock Price

Aramark (NYSE:ARMK) had its price objective increased by Robert W. Baird from $38.00 to $44.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other research analysts have also weighed in on the stock. JPMorgan Chase & Co. raised their price objective 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. Morgan Stanley lifted their price objective on shares of Aramark from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Truist Financial boosted their price target on shares of 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 raised Aramark from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $36.00 to $42.50 in a report on Tuesday, September 17th. Finally, Deutsche Bank Aktiengesellschaft raised Aramark from a “hold” rating to a “buy” rating and increased their price objective for the stock from $36.00 to $39.00 in a report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $42.23.

Aramark Trading Down 0.8 %

NYSE ARMK traded down $0.31 on Tuesday, hitting $38.37. The company’s stock had a trading volume of 54,298 shares, compared to its average volume of 2,215,129. The company has a quick ratio of 0.86, a current ratio of 0.81 and a debt-to-equity ratio of 1.42. Aramark has a 1-year low of $26.58 and a 1-year high of $42.04. The company’s 50-day moving average is $38.24 and its 200 day moving average is $35.17. The firm has a market cap of $10.11 billion, a PE ratio of 39.08 and a beta of 1.62.

Aramark (NYSE:ARMK) last posted its quarterly earnings data on Monday, November 11th. The company reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. The company had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.46 billion. Aramark had a net margin of 1.51% and a return on equity of 14.06%. Aramark’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.64 earnings per share. As a group, analysts predict that Aramark will post 1.92 earnings per share for the current fiscal year.

Aramark Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Monday, December 2nd will be given a $0.001 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.00 dividend on an annualized basis 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 made changes to their positions in the company. BNP Paribas Financial Markets raised its stake in Aramark by 54.9% during the first quarter. BNP Paribas Financial Markets now owns 29,636 shares of the company’s stock valued at $964,000 after buying an additional 10,505 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Aramark by 36.3% in the first quarter. Janney Montgomery Scott LLC now owns 16,020 shares of the company’s stock worth $521,000 after purchasing an additional 4,265 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of Aramark in the first quarter worth $245,000. Swiss National Bank increased its position in Aramark by 0.6% during the first quarter. Swiss National Bank now owns 492,000 shares of the company’s stock valued at $16,000,000 after acquiring an additional 2,800 shares during the last quarter. Finally, Sei Investments Co. increased its position in Aramark by 15.2% during the first quarter. Sei Investments Co. now owns 93,574 shares of the company’s stock valued at $3,043,000 after acquiring an additional 12,342 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.